Aboki Naira To Dollar Black Market Rate Today 31st January 2025

As of the early hours of January 31, 2025, the Nigerian Naira against the US Dollar on the black market, commonly referred to as the “Aboki” market, has shown signs of marginal stability.

Sources indicate that the buying rate for a US Dollar stands at approximately ₦1,625, while the selling rate is around ₦1,635. This represents a slight shift from the rates reported just a day prior, suggesting a cautious stabilization in the parallel market’s exchange rate dynamics.

Many Nigerians continue to be focused on the black market rates, especially the disparity between these rates and the official rates set by the Central Bank of Nigeria (CBN). This gap highlights the challenges in managing currency stability in one of Africa’s largest economies, where informal trading sectors significantly influence the Naira’s valuation.

Economic analysts have pointed out that these rates are influenced by various factors, including government policy announcements, fluctuations in oil revenues, and the country’s overall economic health. Recent policies under President Bola Tinubu aim to curb inflation, which was reported at 34.6% with a target reduction to 15% by the end of 2025, potentially affecting the Naira’s valuation.

Despite these efforts, the black market remains volatile. Exchange rates can change rapidly based on daily economic developments, making it a critical area for those who depend on foreign currency for business, travel, or other transactions outside the regulated banking system.

For those looking to exchange currency, it is advised to consult multiple sources for the most accurate and current rates. The Central Bank of Nigeria does not recognize the parallel market for official transactions, recommending that individuals and businesses use formal banking channels for foreign exchange needs.

Current Rates

• Buying Rate: ₦1,625 per USD
• Selling Rate: ₦1,635 per USD

As the Nigerian economy navigates through these turbulent financial waters, the focus remains on how these black market rates will evolve in response to both domestic and international economic signals.