The dollar traded higher against the naira on Monday, December 1, 2025, as year-end demand for foreign currency nudged parallel-market prices up while the official Nigerian Foreign Exchange Market (NFEM) rate remained steadier.
On the NFEM — the Central Bank of Nigeria’s (CBN) volume-weighted average price and the day’s official benchmark — the naira traded around ₦1,440–₦1,446 to $1, according to market data aggregators and the CBN’s published NFEM table.
In the parallel (black) market, bureaux-de-change operators in Lagos, Abuja and Port Harcourt quoted the dollar at about ₦1,455 for buying and ₦1,465 for selling on Monday, up slightly from last week as importers and holiday travelers stepped up demand.
Analysts said the mixed moves reflected two forces: constrained official FX liquidity that keeps some transactions routed through the parallel market, and a broadly stable policy stance at the CBN after recent monetary adjustments aimed at bringing down inflation. The central bank has signalled a cautious approach to rate cuts, a factor market participants say supports a narrower official trading band even as informal rates react to seasonal demand.
Read Also;
Dollar to Naira exchange rate today, November 29, 2025
What it means for consumers and businesses
Importers and firms with dollar-denominated obligations face slightly higher costs if they source dollars from the parallel market, while remittance recipients and small traders may still find some relief from the more stable official window if they can access it. Market commentators say the naira’s near-term trajectory will hinge on CBN interventions in official windows, oil receipts and remittance flows through December.
