The Nigerian naira has maintained its volatility against the United States dollar in the parallel market today, Sunday, August 10, 2025.
According to findings from Bureau De Change (BDC) operators in Lagos, traders in the black market, also known as the Aboki FX market, are buying the dollar at ₦1,550 and selling at ₦1,540.
It is crucial to note that the Central Bank of Nigeria (CBN) does not officially recognize the black market. The CBN has repeatedly emphasized that all legitimate foreign exchange transactions should be conducted through authorized financial institutions, such as commercial banks.
Dollar to Naira Black Market Rates
- Buying: ₦1,550
- Selling: ₦1,540
Dollar to Naira CBN Rates – August 10, 2025
- Highest Rate: ₦1,536
- Lowest Rate: ₦1,532
Why the Rates Differ
The discrepancy between the black market and the official CBN rates is often attributed to factors such as supply and demand pressures, foreign exchange scarcity, and market speculation. While the CBN works to stabilize the naira through official channels, the parallel market usually reflects more immediate market realities, operating outside regulatory oversight.
Important Advisory
Exchange rates can vary significantly based on location, timing, and the individual dealer. Rates are subject to rapid fluctuations influenced by global oil prices, international market trends, and Nigeria’s foreign reserve levels.
