Dollar to Naira Today: Latest CBN Official Rate and Black Market Exchange on December 18, 2025

The Nigerian naira traded cautiously against the United States dollar on Thursday, December 18, 2025, as foreign exchange activity across both the official and parallel markets reflected sustained year-end demand by businesses and individuals.

At the official Nigerian Foreign Exchange Market, the naira opened trading at about ₦1,453.25 to the dollar, improving slightly from the previous closing rate of ₦1,458.02 recorded on Wednesday. Early transactions showed mild fluctuations, with the currency trading within a narrow band between ₦1,453.07 and ₦1,460.75 as importers and corporate firms moved to finalise end-of-year obligations.

Market watchers say the Central Bank of Nigeria has continued to play an active role through liquidity support and targeted interventions, helping to stabilise the naira despite increased pressure typically associated with the festive season. These interventions have so far prevented sharp depreciation at the official window, even as demand for dollars remains elevated.

In the parallel market, the naira continued to trade at a significant premium, with Bureau De Change operators in key cities such as Lagos, Abuja and Kano quoting rates between ₦1,720 and ₦1,735 per dollar. The persistent gap between the official and black market rates remains a concern, especially as demand for travel allowances, overseas school fees and holiday-related imports intensifies.

Analysts identify several factors shaping the current exchange rate movement. Increased year-end import activity has driven up dollar demand, particularly for consumer goods and raw materials. At the same time, recent foreign exchange injections by the Central Bank through authorised dealers have provided temporary relief, cushioning the naira from steeper losses. Stable global crude oil prices have also supported Nigeria’s foreign reserves, giving monetary authorities more flexibility to manage market volatility.

As the trading week approaches its close, financial experts expect the naira to remain relatively stable within the ₦1,450 to ₦1,465 range at the official market. However, the parallel market could experience further marginal depreciation if retail demand continues to exceed available dollar supply.

Currency traders and businesses are advised to closely monitor Central Bank policy signals and global economic trends, as these will play a critical role in shaping the naira’s performance in the coming weeks.