Aboki Naira to Dollar Black Market Exchange Rate Today, 31st May 2026

The Nigerian naira maintained a relatively stable position in the black market on Saturday, with the parallel exchange rate for the US dollar hovering around ₦1,385 for selling and ₦1,375 for buying, according to dealers and market aggregators.

Currency traders in major hubs like Lagos, Abuja, and Kano reported brisk activity amid ongoing demand for foreign exchange, though volumes remained moderate as the weekend approached. The slight premium over the Central Bank of Nigeria’s official rate of approximately ₦1,375.41 reflected persistent supply constraints in the formal window, even as authorities continue efforts to boost liquidity through various interventions.

Analysts attribute the current equilibrium to a combination of improved oil export receipts and cautious optimism following recent policy adjustments aimed at narrowing the gap between official and unofficial rates. However, many businesses and individuals still turn to the parallel market for immediate needs, citing faster transactions and better availability of cash dollars.

“Rates have been quite steady this week, with minimal fluctuations,” said a Bureau de Change operator in Ikeja who preferred anonymity. “Demand is there from importers and travelers, but we’re not seeing the wild swings of previous months.”

Economists warn that sustained stability will depend on broader factors, including foreign investor inflows, inflation trends, and global commodity prices. For now, the naira’s performance in the black market offers a snapshot of resilience, even as everyday Nigerians grapple with the real-world impact of exchange rate volatility on prices of imported goods and services.

As the new week begins, market watchers will be keen to see whether fresh CBN measures or external developments bring further convergence or renewed pressures on the currency.