The Nigerian Naira continued its strong run on Wednesday, December 3, 2025, maintaining a narrow gap between the official Nigerian Foreign Exchange Market (NFEM) rate and the parallel market rate.
According to data from the FMDQ Securities Exchange, the Naira opened at ₦1,448.43 per dollar at the official window. Market sentiment has been cautiously positive all week, with the currency consistently hovering around the ₦1,450 region. This stability follows earlier reforms by the Central Bank of Nigeria (CBN), which improved transparency and boosted liquidity in the forex market.
Parallel Market Update
In the parallel market, the Naira traded between ₦1,455 and ₦1,460 to the dollar in Lagos and Abuja. With a gap of less than ₦15 between both markets, Nigeria is seeing one of its closest official–parallel market convergences in years. Many traders in Abuja’s Wuse Zone 4 reported that demand has normalised and volatility has reduced.
Economic Factors Supporting Stability
Nigeria’s external reserves have been rising steadily, now standing at $44.56 billion as of late November 2025 — the highest in over five years. This gives the CBN enough strength to support the Naira and address forex backlogs.
Inflation has also shown improvement. The National Bureau of Statistics reported a drop to 16.05% year-on-year in October 2025, the lowest level in more than three years. Better food supply from harvest season and a more stable exchange rate have both helped ease price pressures, attracting more foreign investment into Naira assets.
CBN Position
The Monetary Policy Committee recently maintained the benchmark interest rate at 27.00%. CBN Governor Olayemi Cardoso noted that the current exchange rate reflects “true market value” and that the bank will only intervene to manage sharp volatility, not to fix rates.
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Dollar to Naira exchange rate today, December 2, 2025
Outlook
Financial analysts expect the Naira to remain within the ₦1,445 – ₦1,465 range through the festive season. With oil output stable and Eurobond yields easing, the outlook for early 2026 remains positive.
Key Exchange Rates
Official NFEM Open: ₦1,448.43 / $1
Official NFEM Projected Close: ₦1,450.00 / $1
Parallel Market Buy: ₦1,452 / $1
Parallel Market Sell: ₦1,460 / $1
GBP (Black Market): ₦1,925 / £1
Euro (Black Market): ₦1,680 / €1
