The Nigerian naira remained relatively stable against the United States dollar on Wednesday, December 18, 2025, as trading activities in both the official and parallel markets reflected sustained demand for foreign exchange ahead of the year-end.
At the official Nigerian Foreign Exchange Market (NFEM), the naira opened trading at about ₦1,453.25 to the dollar. This represents a slight improvement from the previous day’s closing rate of ₦1,458.02. During early trading hours, the currency moved within a narrow range, hitting a high of ₦1,460.75 and a low of ₦1,453.07, showing mild volatility as businesses and importers rushed to settle year-end transactions.
Market watchers attribute the naira’s relative stability to continued interventions by the Central Bank of Nigeria (CBN), which has supplied foreign exchange through authorised channels to ease pressure on the market, especially during the festive season when demand typically rises.
In the parallel market, however, the dollar continued to trade at a much higher rate. Bureau De Change operators in cities such as Lagos, Abuja, and Kano quoted exchange rates between ₦1,720 and ₦1,735 per dollar. The growing gap between the official and black market rates remains a concern, driven largely by increased retail demand for travel allowances and holiday-related imports.
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Analysts say several factors are influencing the current exchange rate movement, including higher import demand ahead of the holidays, ongoing liquidity injections by the CBN, and relatively stable global oil prices, which have helped support Nigeria’s foreign reserves.
Looking ahead, experts expect the naira to trade within the ₦1,450–₦1,465 range at the official window in the coming days, while the parallel market could experience slight further weakening if demand continues to outstrip supply.
