The Nigerian Naira opened the Christmas Eve trading session with slight fluctuations against the United States Dollar across both the official and informal markets.
As of the morning of December 24, 2025, data from the Nigerian Foreign Exchange Market (NFEM) and various Bureau De Change (BDC) hubs show the local currency maintaining a relatively stable range despite increased seasonal demand for foreign exchange.
Official Market Performance (NFEM)
In the official window, the Naira is currently trading at an average of 1,453.70 per Dollar. Early morning trades recorded a high of 1,460.75 before settling lower as market liquidity improved. This represents a minor appreciation compared to the closing rate of 1,461.50 recorded at the end of Tuesday’s session.
The Central Bank of Nigeria (CBN) continues to monitor the market closely, with the “Mean” or simple average rate hovering around the 1,454 mark. Traders note that while the festive season usually triggers a surge in corporate and personal travel demand, the official window has remained resilient due to consistent interventions and improved inflows from diaspora remittances.
Parallel Market (Black Market) Trends
In the parallel market, popularly known as the black market, the Dollar is being exchanged at a premium. Independent sources and BDC operators in Lagos and Abuja report buying rates between 1,465 and 1,475, while selling rates are currently pegged between 1,480 and 1,490 per Dollar.
The gap between the official and parallel market rates remains narrow, a trend that analysts attribute to the ongoing convergence policies led by the financial authorities. However, the informal market continues to see higher activity as retail buyers seek quick access to cash for holiday transactions.
Economic Outlook
The relative stability of the Naira in the final week of 2025 is a departure from the extreme volatility seen in previous years. Financial experts suggest that the steady rates are a result of balanced supply-demand dynamics and a more transparent price discovery mechanism in the NFEM.
As the year draws to a close, market participants expect the exchange rate to hold within the 1,450 to 1,500 corridor, barring any significant global economic shifts.
