Aboki Naira to Dollar Black Market Exchange Rate Today, 17th May 2026

In major Nigerian cities including Lagos, Abuja, and Kano, the black market exchange rate for the US dollar remained largely stable today, with dealers quoting around ₦1,395 for selling and ₦1,385 for buying one American dollar. This reflects a modest daily adjustment amid ongoing demand pressures in the parallel market, where currency traders known locally as Aboki continue to set rates based on real-time supply and buyer activity.

Market participants reported a spread of roughly ₦10 between buy and sell prices, indicating relatively tight trading conditions compared to more volatile periods earlier in the year. The parallel rate sits slightly above the Central Bank of Nigeria’s official figure, which hovered near ₦1,370, highlighting the persistent gap driven by import needs and limited forex liquidity in formal channels.

Analysts attribute the current stability to a combination of factors, including recent monetary policy measures and inflows from diaspora remittances and oil revenues. However, broader economic challenges such as elevated inflation—recently climbing to 15.69 percent in April—continue to influence sentiment, with food prices exerting particular strain on households.

Business owners and travelers exchanging currency today noted brisk activity at key spots, though volumes appeared moderate as many awaited clearer signals from upcoming policy announcements. Currency experts advise caution, recommending verification of rates at trusted points before transactions, given the informal nature of the black market.

As Nigeria navigates its forex dynamics, stakeholders will be watching developments in global oil prices and domestic reforms that could narrow the divide between official and parallel rates in the coming weeks. For now, the naira demonstrates resilience in the face of these pressures, offering a measure of predictability for those reliant on dollar dealings.