Aboki Naira To Dollar Black Market Rate Today 26th January 2025

On this Sunday, the 26th of January 2025, the Nigerian Naira’s exchange rate against the US Dollar in the black market has shown slight fluctuations, reflecting the ongoing volatility in Nigeria’s foreign exchange market.

According to recent updates, the buying rate for the US Dollar stands at approximately ₦1,665, with the selling rate hovering around ₦1,675 per US Dollar.

This minor adjustment comes amidst a broader context of economic challenges in Nigeria, where the black market, often referred to as the “Aboki” market, remains a key indicator of the Naira’s real-time value due to its sensitivity to local economic conditions, government policies, and global financial trends.

The Central Bank of Nigeria (CBN) has continued its efforts to stabilize the Naira through various foreign exchange policies, but the black market rates continue to diverge significantly from the official rates, highlighting the complexities within Nigeria’s dual exchange rate system. The official exchange rate does not always reflect the day-to-day reality of currency exchange on the streets, leading to this disparity.

Economic analysts have pointed out that several factors contribute to this ongoing trend, including government debt, fluctuating oil revenues, and the broader economic policies at play. The black market rate today reflects a temporary stabilization; however, the market’s inherent unpredictability means that swift changes could occur.

For Nigerians and businesses that rely on the black market for foreign exchange, these rates are critical for daily transactions. It’s advised to consult multiple sources for the most accurate picture of the day’s trading environment. Individuals and companies are encouraged to navigate these rates with caution, considering the potential for rapid changes.

Disclaimer: The Central Bank of Nigeria does not recognize the parallel market (black market) and advises individuals interested in foreign exchange to contact their banks for official transactions.

Note: Rates are based on the latest available data and are subject to change.