Aboki Naira To Dollar Black Market Rate Today 30th January 2025

As of today, January 30, 2025, the Nigerian Naira has experienced fluctuations in its value against the U.S. Dollar in the parallel market, commonly referred to as the “Aboki” market.

According to reports and updates from various sources, the exchange rate for buying a US Dollar in the black market is approximately N1,625, while selling stands at N1,635. This marks a slight appreciation of the Naira compared to recent days, where rates were reported at N1,640 for buying and N1,650 for selling.

The black market exchange rates are pivotal for many Nigerians, particularly due to the restrictions and delays often encountered in official banking channels for foreign exchange. The rates at the black market often exceed the official exchange rates due to the unregulated nature of these transactions, which are influenced by supply and demand dynamics, government policies, and global economic conditions.

Experts have noted that the current rates reflect a nuanced shift, with the Naira showing signs of marginal stabilization. However, the volatility in the black market persists, and the exchange rates can swiftly change based on new economic developments or policy announcements.

Recent economic policies under President Bola Tinubu aim to reduce inflation from 34.6% to 15% by the end of 2025, which could impact the Naira’s valuation. Despite these efforts, the gap between the official and parallel market rates remains significant, highlighting ongoing challenges in managing currency stability.

For those looking to engage in currency exchange, it’s advised to stay informed through multiple sources, including checking rates from various Bureau De Change (BDC) operators and being aware of the official rates published by the Central Bank of Nigeria (CBN).

The black market’s sensitivity to foreign currency availability continues to make it a critical barometer for Nigeria’s economic health, affecting everything from import costs to travel expenses.