NewsOnline Nigeria brings you the latest update on the Dollar to Naira exchange rate in the black market (also known as the Aboki FX rate) for Friday, 1st August 2025.
If you’re searching for the dollar to naira black market rate today, here’s everything you need to know, including verified parallel market rates and the official CBN dollar rate.
According to Lagos-based Bureau De Change (BDC) sources and real-time data gathered by NewsOnline Nigeria, the dollar opened at the following rates in the black market today:
Buying Rate: ₦1,580 per $1
Selling Rate: ₦1,585 per $1
This rate is subject to change throughout the day due to high volatility and demand-driven forex dynamics in Nigeria’s parallel market.
The black market rate is typically higher than the official Central Bank of Nigeria (CBN) rate.
It fluctuates based on forex availability, demand, and economic sentiment.
Rates may differ by location, volume, and dealer.
If you’re looking for the official dollar to naira rate, here’s what the Central Bank of Nigeria (CBN) published:
Buying Rate: ₦1,575 per $1
Selling Rate: ₦1,580 per $1
⚠️ Note: The CBN warns against engaging in black market forex trading and encourages all transactions to be conducted through authorized financial institutions.
| Market | Buying Rate (₦) | Selling Rate (₦) |
|---|---|---|
| Black Market (Aboki FX) | ₦1,580 | ₦1,585 |
| CBN Official Rate | ₦1,575 | ₦1,580 |
If you must transact in the black market, here are key safety tips:
Deal with reputable and verified BDC operators.
Always confirm real-time rates before exchanging.
Avoid large transactions without due diligence.
Ask for written receipts and record all dealings.
Several factors can cause fluctuations in the dollar-naira rate on the black market, including:
Foreign exchange scarcity
Market speculation and demand
Political and economic conditions in Nigeria and the U.S.
Global oil price trends, which affect Nigeria’s revenue
CBN monetary policy changes
The exchange rates provided in this article are for informational purposes only. Rates may vary based on location, dealer, and time of transaction. Always verify rates from reliable sources before making financial decisions.
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