Aboki Naira to Dollar Black Market Exchange Rate Today, 23rd May 2026

The Nigerian naira maintained a relatively steady position against the US dollar in the parallel market on Saturday, as currency traders in major cities like Lagos, Abuja, and Kano continued to navigate ongoing supply constraints and steady demand from businesses and individuals.

According to widely tracked Aboki forex sources, one US dollar was buying at approximately ₦1,390 and selling for around ₦1,395 to ₦1,400 in the black market. This reflects minimal movement from the previous trading session, with the spread remaining tight amid balanced trading activities.

Market participants noted that the parallel rate continues to hover above the official window, where the dollar traded closer to ₦1,370 levels. The premium in the black market highlights persistent challenges in forex liquidity, even as authorities work to stabilize the economy through various interventions.

Traders attributed the stability to a combination of improved dollar inflows from some diaspora remittances and cautious selling by exchangers wary of sudden policy shifts. However, demand for foreign currency remains strong for imports, school fees, and medical expenses, keeping rates elevated compared to historical averages.

Analysts observing the trend suggest that without significant boosts in oil production or non-oil exports, the naira could face renewed pressure in the coming weeks. For now, everyday Nigerians exchanging small amounts are advised to compare rates across trusted dealers to secure the best deals.

This situation underscores the dual nature of Nigeria’s foreign exchange market, where the black market often serves as a real-time indicator of grassroots economic realities.