Dollar to Naira Exchange Rate Today: Bank Rates, Black Market Price and CBN FX Rate

The Nigerian naira remained largely stable against the United States dollar on Monday, December 15, 2025, with minimal movement recorded across both the official foreign exchange market and the parallel market. The calm trading session reflects ongoing efforts by monetary authorities to maintain stability in the foreign exchange environment amid economic pressures.

At the official Nigerian Foreign Exchange Market, the naira traded at ₦1,448.68 per dollar during early trading hours. This represents a slight change from the previous close of ₦1,452.57, indicating marginal appreciation and continued price consolidation around the ₦1,450 level. Market activity at the official window remains cautious as liquidity conditions stay tight and regulatory oversight remains strong.

The Central Bank of Nigeria continues to manage foreign exchange supply through targeted interventions, aiming to reduce volatility and improve confidence among investors and market participants. These efforts have contributed to the narrow trading range observed in recent sessions.

In the parallel market, the dollar exchanged at approximately ₦1,449.56, placing it almost at par with the official rate. The difference between the two markets stood at less than ₦1, highlighting an unusual level of convergence that reflects improved market alignment and tighter enforcement against speculative trading.

Currency dealers note that the shrinking gap between the official and unofficial markets suggests increasing reliance on formal banking channels for foreign exchange transactions. This trend aligns with regulatory measures designed to strengthen transparency and limit excessive demand pressure outside the official system.

Over the past week, the naira has traded within a narrow band, fluctuating between a high near ₦1,459 and a low around ₦1,447 at the official market. This relative stability comes despite broader macroeconomic challenges affecting emerging markets.

Several economic factors continue to influence the naira’s performance in December 2025. The Central Bank of Nigeria’s Monetary Policy Rate remains elevated at 27.00 percent, a stance aimed at curbing inflation and attracting foreign portfolio inflows. Nigeria’s inflation rate stood at 16.05 percent as of October 2025, reinforcing the need for tight monetary conditions.

Global crude oil prices also remain a critical determinant of foreign exchange inflows, as Nigeria’s external earnings are heavily dependent on oil exports. Any sustained movement in oil prices could directly impact dollar supply in the domestic market.

Looking ahead, increased demand for foreign exchange linked to year-end business activities, international trade settlements and personal travel expenses may test the current stability. Market participants are closely monitoring liquidity levels and policy signals from the Central Bank to gauge the direction of the exchange rate in the coming days.

The dollar to naira exchange rate is expected to remain under close observation by investors, businesses and policymakers, with continued focus on foreign exchange supply management, inflation trends and global economic developments.