The Nigerian Naira opened the week with mixed performance in both the official and parallel foreign exchange markets on Tuesday, December 16, 2025.

Official Exchange Rate (NFEM)

Data from the Nigerian Foreign Exchange Market (NFEM) showed that the Naira closed the early trading session at ₦1,452.27 per US Dollar. Trading activity remained narrow, ranging between ₦1,451.19 and ₦1,452.57, reflecting the Central Bank’s continued efforts to stabilize the official rate. Analysts attribute this stability to increased liquidity injections by the Central Bank and a slowdown in corporate FX demand as the year comes to a close.

Parallel (Black Market) Rate

In the parallel market, also known as the black market, the US Dollar traded at an average of ₦1,465 to ₦1,475. The slight premium over the official rate highlights persistent demand-supply imbalances, largely driven by individuals and small businesses unable to access dollars through official channels.

Market Outlook

While the official rate demonstrates relative steadiness, the parallel market indicates ongoing structural FX challenges and speculative trading pressures. Market participants continue to watch for future Central Bank policies aimed at unifying exchange rates and addressing inflationary pressures in the economy.