Nigeria’s foreign exchange market continued to exhibit calm on Thursday, December 11, 2025, as the Naira maintained steady performance against the US Dollar across both official and parallel trading windows. Market analysts say this marks one of the most stable trading weeks for the currency in recent months.
Official Market Performance
Data from the FMDQ Securities Exchange revealed that the Naira traded at ₦1,451.86 per dollar in the Nigerian Foreign Exchange Market (NFEM). Since Monday, the currency has remained within the ₦1,450–₦1,452 range, reflecting low intraday volatility and improved dollar supply. Analysts attribute this trend to stronger foreign capital inflows, which have surpassed $20 billion in 2025, and the Central Bank of Nigeria’s (CBN) structural reforms of the Bureau de Change (BDC) segment.
Parallel Market Rates Also Steady
In the parallel market, the dollar sold for an average of ₦1,490 and bought for ₦1,475. Observers noted that the gap between official and black-market rates has narrowed to around ₦35–₦40, indicating reduced arbitrage opportunities and smoother market operations—key objectives of the CBN’s forex reforms.
Current Key Rates
- NFEM (Official) Rate: ₦1,451.86 / $1
- Parallel Market Buy: ₦1,475 / $1
- Parallel Market Sell: ₦1,490 / $1
- Pound Sterling (Parallel Market): ₦1,970 / £1
- Euro (Parallel Market): ₦1,725 / €1
Market Outlook
Nigeria’s external reserves, now at approximately $45.3 billion, continue to boost investor confidence. Experts believe the usual December surge in dollar demand is being cushioned by improved liquidity and tighter BDC regulations. Additionally, the market is monitoring the US Federal Reserve’s upcoming policy decisions, which could weaken the dollar globally and further support emerging market currencies, including the Naira.
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