The Nigerian Naira recorded a mixed outcome against the US Dollar on Friday, December 12, 2025, with the official and parallel markets moving in slightly different directions. While the Nigerian Foreign Exchange Market (NFEM) remained stable within a narrow trading band, the parallel market posted a mild appreciation for the Naira, trimming the premium between both markets.
Official Market (NFEM / I&E Window)
Trading at the official NFEM showed minimal movement compared to Thursday’s close, reflecting ongoing liquidity management and stabilisation efforts by the Central Bank of Nigeria.
Closing Rate: ₦1,449.38 per US Dollar
Highest Intraday Rate: Approximately ₦1,452.50
Lowest Intraday Rate: Around ₦1,449.38
The tight spread highlights the CBN’s continued intervention to maintain stability for importers, exporters, and the formal business environment.
Parallel Market (Black Market)
Across the informal cash market, the Naira strengthened slightly after days of mild depreciation.
Buying Rate: ₦1,475.00 per US Dollar
Selling Rate: ₦1,485.00 per US Dollar
This places the parallel market premium at roughly ₦25.62 to ₦35.62 above the official closing rate.
Market Drivers
Several factors shaped today’s exchange rate movement:
Crude Oil Prices: Steady global oil prices continue to support Nigeria’s external reserves, enhancing the CBN’s intervention capacity.
Diaspora Remittances: The festive season has begun driving up remittance inflows, improving liquidity in the parallel market.
Monetary Policy Expectations: Investors are watching closely as the CBN signals potential further interest rate hikes to curb inflation and attract foreign portfolio investments.
