The Nigerian Naira opened trading today, Tuesday, December 9, 2025, with a mix of stability and mild slippage as the currency recorded slight movement across both the official and parallel foreign exchange markets.
Fresh market data shows that the ongoing convergence between the official Nigerian Foreign Exchange Market (NAFEM) rate and the street market rate is holding firm—an outcome analysts link to recent monetary policy adjustments and improved FX liquidity.
Official Market Holds Firm
In the official window, the Naira is currently exchanging at an average of ₦1,450.92 per dollar, based on updates from the FMDQ and major trading platforms such as Xe. This continues the currency’s multi-week run of relative stability within the ₦1,450–₦1,460 range.
Market watchers say the steady performance is no coincidence. They point to increased foreign inflows and the US Federal Reserve’s dovish shift in late 2025, which has weakened the dollar globally and allowed emerging-market currencies—including the Naira—to regain some strength.
Parallel Market Records Mild Decline
At the parallel market—often called the black market—dealers in Lagos and Abuja are selling the dollar for about ₦1,490 and buying at ₦1,475 today.
Tracking platforms such as Aboki Forex show that the long-standing gap between the official and unofficial rates has now shrunk to roughly ₦40, a development many economists describe as a sign of “greater market efficiency” and “reduced arbitrage space” compared to previous years.
Outlook: More Stability Ahead?
Financial analysts say the Central Bank of Nigeria’s ongoing reforms—coupled with a recent buildup in foreign reserves—are helping stabilize the Naira. Additionally, expectations of another US Fed rate cut later this month continue to lift investor confidence in Nigerian assets, muting exchange-rate volatility as the year winds down.
While the Naira has shown resilience, traders caution that sustained stability will depend on continued FX inflows, disciplined monetary policy, and global economic conditions.
