The Nigerian Naira is witnessing notable activity across the different segments of the foreign exchange market today, Wednesday, December 17, 2025.
Figures from the Nigerian Foreign Exchange Market (NFEM) and the parallel market show a slim but lingering disparity between official exchange rates and black-market prices as the year approaches its end.
At the official NFEM window, the Naira began trading with a marginal decline from the previous day’s close. Available data indicate that the US Dollar is exchanging at an average rate of 1,453.67 Naira. This comes after a volatile start to the week, during which the currency reached a daily peak of 1,454.97 Naira in early trading. Analysts link this pressure to increased demand from corporate organisations settling end-of-year financial commitments and import-related payments ahead of the festive season.
In contrast, the parallel market continues to trade at higher levels. Reports from major commercial centres including Lagos, Abuja and Kano show that the Dollar is being bought at about 1,475 Naira and sold for as much as 1,485 Naira.
Although this margin reflects relative stability compared to last week, the difference between official and street rates remains a concern, particularly for small importers and individual travellers.
The Central Bank of Nigeria (CBN) has sustained its policy of supporting liquidity in the NFEM to limit sharp fluctuations. Recent assessments suggest that the bank’s interventions have helped cushion the Naira from steeper depreciation, despite ongoing pressures from global oil price movements affecting Nigeria’s foreign reserves.
Meanwhile, other major currencies are also showing firm positions. The British Pound is trading at around 1,943 Naira in the official market, while the Euro stands at approximately 1,707 Naira. Rates in the parallel market are slightly higher, with the Pound approaching the 2,000 Naira threshold in some areas.