Black Market Dollar To Naira Exchange Rate Today 11th April 2025

What is the dollar-to-naira exchange rate on the black market, like the Aboki Fx?

Are you searching for Aboki Dollar to Naira exchange rate today, April 11th, 2025? We’ve got you covered with the most recent black market rates, including the latest parallel market prices for the dollar, pound, and euro against the Nigerian naira.

In Nigeria, the Aboki FX rate (also referred to as the Bureau De Change or black market rate) has become the go-to source for many businesses and individuals seeking to trade foreign currency due to the unavailability or restrictions on official channels.

Let’s get into today’s detailed exchange rate figures.

The exchange rate for the US dollar (USD) to Nigerian Naira (NGN) in the parallel market, also known as black market, as of 11th April 2025, is N1,630 for 1 USD.

This rate is often sourced from the latest data provided by Bureau De Change (BDC) operators.

How much is a Dollar to Naira today in the Black Market?

What is the Dollar to Naira Exchange Rate at the Black Market, especially the Aboki Fx?

Because of the dynamics of supply and demand in the informal foreign exchange market, the Central Bank of Nigeria (CBN) official rates often differ significantly from those in the black market.

As of today, 11th April 2025, the black market buying rate for the US dollar is N1,620 while the selling rate is N1,630.

These rates change from time to time during the day, influenced by various factors including economic conditions, market speculation, and government policies.

The dollar-to-naira exchange rate in the black market has continued to fluctuate, reflecting the economic challenges and forex shortages in Nigeria.

In contrast to the black market, the Central Bank of Nigeria (CBN) maintains an official exchange rate. Today, the CBN rate for one dollar is N1,629.93.

The disparity between the official and black market rates highlights the pressure on the naira and the challenges in the country’s forex market.

Black Market Exchange Rate Today 

CBN Exchange Rate Today

CRYPTOCURRENCY

At the time of posting

BITCOIN

1 BTC: NGN129.3M

1 NGN = 0.000000078BTC

ETHEREUM

1 ETH: NGN 2.5M

1 NGN: 0.00000034ETH

Variations in Forex Rates

Forex rates in Nigeria vary across different markets and platforms. The black market, official CBN rates, and rates offered by commercial banks and international money transfer operators all differ.

This discrepancy creates arbitrage opportunities and poses challenges for businesses and individuals needing foreign currency for legitimate transactions.

50 Dollars to Naira Today Black Market

For people looking to exchange 50 US dollars today, the rate in the black market will be approximately N81,000 if obtained at the buying rate of N1,620 per dollar.

For those buying from retailers, it would cost N81,500 at the selling rate of N1,630 per dollar.

100 Dollars to Naira Today Black Market

Exchanging 100 US dollars today in the black market will get you N162,000 if sold at the current buying rate.

For those purchasing dollars, it will cost N163,000. This rate of increase no doubt affects businesses, travelers, and others who need dollars and other foreign currencies for overseas transactions.

500 Dollars to Naira Today Black Market

A larger transaction of 500 US dollars will result in N810,000 at the buying rate and N815,000 at the selling rate in the black market today.

The higher volumes reflect the ongoing need for dollars in the business community.

1,000 Dollars to Naira Today Black Market

For those who need up to 1000 US dollars, the black market will offer N1,620,000 at the buying rate and N1,630,000 at the selling rate.

How is the Dollar to Naira Exchange Rate in the Black Market Determined?

The black market exchange rate for the US dollar to Naira is influenced by factors such as:

• Demand and Supply: When the demand for foreign currencies exceeds supply, the rates tend to rise.

• Economic Conditions: Inflation, interest rates, and other macroeconomic factors in Nigeria can impact the exchange rate.

• Government Policies: Policies from the Central Bank of Nigeria (CBN) on foreign exchange allocation, restrictions, and interventions affect the black market rates.

• Market Speculation: Traders in the parallel market may adjust rates based on their expectations of future market conditions, creating further fluctuations.

The official exchange rate provided by CBN often differs from the rates in the black market due to Nigeria’s ongoing foreign exchange challenges, leading to a disparity in pricing for dollar transactions.

Black Market vs. CBN Exchange Rate

To highlight the difference between the black market and official exchange rates:

• Black Market Rate (Today):

  • Buying: ₦1,620 per $1

  • Selling: ₦1,630 per $1

• CBN Official Rate (Today):

  • Buying: ₦1,629.43 per $1

  • Selling: ₦1,629.93 per $1

While the CBN rate is slightly higher than the black market buying rate, it is still much lower than the selling rate in the parallel market, illustrating the ongoing challenges in Nigeria’s forex market.