Aboki Naira To Dollar Black Market Rate Today 14th February 2025

On this Valentine’s Day, the Nigerian Naira’s value in the black market, often referred to as the “Aboki” rate, has shown signs of stability amidst the country’s ongoing economic adjustments. According to multiple sources providing live exchange rates, the current black market exchange rate for the US Dollar to Naira today stands at:

• Buying Rate: ₦1,565
• Selling Rate: ₦1,575

This slight fluctuation from the previous days reflects the dynamic nature of Nigeria’s parallel market, where rates can vary based on demand, supply of foreign currency, and broader economic policies.

The black market, or parallel market, remains a significant indicator of the real-time street value of the Naira, especially when compared to the official rates set by the Central Bank of Nigeria (CBN). The CBN’s efforts to stabilize the Naira through various economic reforms, including tightening monetary policies and improving foreign exchange liquidity, remain a focal point of discussion among economic analysts.

Recent posts on social media platforms have highlighted the buying and selling rates, providing a snapshot of the market’s mood. These rates are particularly crucial for individuals and businesses engaging in transactions that require foreign currency outside the official banking system, where rates might not match the market demand.

Economists note that the black market rate often exceeds the official rate due to the high demand for dollars in Nigeria, driven by factors such as import needs, educational expenses abroad, medical tourism, and general dollarization of the economy. This discrepancy encourages using the parallel market despite the risks involved, including potential legal repercussions for those engaging in unlicensed currency trading.

The government under President Tinubu has set ambitious targets to reduce inflation and stabilize the Naira, aiming to bring inflation down from 34.6% to 15% by the end of 2025. Such goals, if achieved, could significantly influence both the black market and official exchange rates, potentially narrowing the gap between the two.

For those looking to convert currencies, it is advised to stay updated with the latest rates, consult reliable platforms, and be wary of the unregulated nature of the black market. While the black market offers better rates for those needing foreign currency, it also comes with its set of challenges, including the risk of fraud and rate volatility.

This Valentine’s Day, as Nigeria navigates through its economic landscape, the Naira’s performance on the black market continues to be a critical barometer for the nation’s economic health and the public’s confidence in its currency.