By Peter.
The Nigerian Naira showed notable fluctuations in the foreign exchange markets on Wednesday, December 17, 2025, amid heightened year-end demand.
In the official Nigerian Foreign Exchange Market (NFEM), the Naira experienced mild depreciation, with the US Dollar averaging around ₦1,453.67. Intraday trading saw peaks up to ₦1,454.97, driven primarily by increased corporate forex needs for settling imports and holiday-related obligations.
Meanwhile, the parallel (black) market maintained elevated rates, with traders in key cities such as Lagos, Abuja, and Kano quoting buy rates near ₦1,475 and sell rates around ₦1,485 per Dollar. The spread between official and unofficial segments persists, though it remains narrower than earlier peaks in the year, posing challenges for retail importers and travelers.
The Central Bank of Nigeria (CBN) continues to prioritize market liquidity through targeted interventions, which have helped mitigate sharper declines despite ongoing pressures from global oil dynamics and reserve management.
For other key currencies:
- British Pound: Approximately ₦1,943 in the official market, approaching ₦2,000 in some parallel segments.
- Euro: Around ₦1,707 officially, with slight premiums in informal trading.
Market observers anticipate continued volatility into the festive period but note positive effects from recent reforms.
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