The Nigerian foreign exchange market opened this week with the Naira exhibiting mixed stability across both the official window and the parallel market on Tuesday, December 16, 2025.
Nigerian Foreign Exchange Market (NFEM) Rate
According to real-time data from the official Nigerian Foreign Exchange Market (NFEM), the Naira closed the early trading session at a rate of ₦1,452.27 per US Dollar.
This figure is indicative of the central bank’s ongoing efforts to stabilise the official rate, maintaining it within a narrow band compared to recent weeks. Trading activity on the NFEM was recorded within the range of approximately ₦1,451.19 and ₦1,452.57 during the opening hours.
Parallel Market (Black Market) Rate
Information gathered from Bureau De Change (BDC) operators and street traders, who constitute the parallel market, showed a slight deviation from the official rate.
The parallel market saw the US Dollar trading at an average of approximately ₦1,465 to ₦1,475 today for cash transactions. This rate reflects the persistent demand-supply imbalance in the unofficial segment of the market, driven largely by foreign exchange needs for small businesses and individuals not fully met by the NFEM. The slight premium in the black market remains a point of concern for market watchers.
Market Outlook
Currency analysts attribute the relative stability in the official window to a combination of increased liquidity injections by the Central Bank and a general slowdown in corporate FX demand towards the end of the year. However, the premium held by the parallel market suggests that underlying structural challenges and speculative trading continue to exert pressure on the Naira.
The market remains cautious as participants monitor future policy decisions by the monetary authorities aimed at unifying the exchange rates and tackling inflationary pressures.
The post Dollar to Naira exchange rate today, December 16, 2025 appeared first on Vanguard News.
