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Dollar to Naira Black Market Exchange Rate – July 23
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CBN rates range from ₦1534 to ₦1537 across official platforms
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Traders advise forex rates may vary by city or transaction source
The dollar to naira exchange rate at the black market, also known as the parallel market or Aboki FX, remained relatively stable on Tuesday, July 23, 2025.
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EKO HOT BLOG reports that according to information gathered from traders at the Lagos Bureau De Change (BDC), the dollar was bought at ₦1535 and sold at ₦1540.
This rate reflects the ongoing gap between the official market and the black market, where demand for foreign currency continues to drive up the parallel exchange rate.
Black Market (Aboki FX) Exchange Rate – July 23, 2025:
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Buying Rate: ₦1535
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Selling Rate: ₦1540
Meanwhile, the official rate published by the Central Bank of Nigeria (CBN) ranged between ₦1534 and ₦1537.
CBN Official Rate – July 23, 2025:
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Highest Rate: ₦1537
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Lowest Rate: ₦1534
The Central Bank of Nigeria has repeatedly warned that it does not recognize the black market as an official channel for foreign exchange. It advises individuals and businesses to use authorized financial institutions for all forex transactions.
It’s important to note that forex prices may vary depending on location and the source of the transaction. Rates quoted in this report are based on information from traders and may differ slightly across different cities or trading platforms.
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