Aboki Naira To Dollar Black Market Rate Today 13th March 2025

As of March 13, 2025, the Nigerian naira weakens significantly against the U.S. dollar in the black market. According to data from Aboki Forex, the exchange rate currently hovers around ₦1,610 per dollar.

This decline follows a broader trend of naira depreciation in recent months. Just a week earlier, on March 6, 2025, reports indicated an average buying rate of ₦1,495 and a selling rate of ₦1,505 per U.S. dollar in key markets like Abuja and Lagos. This represents an approximate 7.5% depreciation within a week.

The growing gap between the Central Bank of Nigeria’s (CBN) official exchange rate and the black market rate highlights persistent challenges in the country’s foreign exchange market. With the official rate significantly lower, many individuals and businesses turn to the parallel market for foreign currency transactions.

Several factors contribute to this disparity, including dwindling foreign reserves, reduced oil revenues, and rising demand for U.S. dollars among importers and businesses. These economic pressures continue to weigh on the naira, raising concerns about inflation and the broader stability of Nigeria’s economy.

Financial experts advise individuals and businesses to exercise caution when dealing with currency exchanges and stay updated on market fluctuations. Consulting reliable financial sources and official channels can help navigate these volatile conditions.

Note: Exchange rates fluctuate rapidly. Refer to official financial institutions or trusted currency exchange platforms for the latest updates.