Aboki Naira To Dollar Black Market Rate Today 6th February 2025

The Nigerian Naira maintained a stable position against the US Dollar in the parallel market, commonly referred to as the “Aboki” market, on this day. According to various sources across the country, the buy rate for the dollar stood at approximately ₦1,580, while the sell rate was pegged at around ₦1,590.

This stability comes amidst fluctuating economic conditions and ongoing efforts by the Central Bank of Nigeria (CBN) to manage the currency’s valuation. Despite these efforts, the black market remains a significant indicator of the real-time value of the Naira, reflecting the supply and demand dynamics outside of the official banking channels.

Today’s rates suggest a slight appreciation of the Naira compared to recent trends, possibly influenced by recent policy adjustments or market sentiments. However, the black market’s inherent volatility means these rates could shift rapidly.

Economic analysts point out that factors such as government debt, oil revenue fluctuations, and broader economic policies continue to exert pressure on the Naira’s value. The disparity between the official and black market rates highlights the challenges within Nigeria’s dual exchange rate system, where the official rate often does not reflect the street-level reality of currency exchange.

Today’s figures underscore the ongoing economic challenges for Nigerians and businesses reliant on these black market rates for foreign exchange transactions. The need for vigilance in currency dealings remains paramount, with many consulting multiple sources to ensure they are getting the best available rate.

Disclaimer: The Central Bank of Nigeria does not recognize transactions in the parallel market. It advises individuals and businesses to conduct foreign exchange dealings through official banking channels for more regulated and secure transactions.