The Nigerian naira opened trading on Christmas Eve with slight fluctuations against the United States dollar across the official and parallel foreign exchange markets, maintaining relative stability despite increased seasonal demand.
As of the morning of December 24, 2025, figures from the Nigerian Foreign Exchange Market showed the local currency trading at an average rate of ₦1,453.70 to the dollar at the official window.
Early trades recorded a high of about ₦1,460.75 before the rate moderated as liquidity improved, representing a marginal appreciation from the ₦1,461.50 closing rate recorded at the end of Tuesday’s session.
Market operators said the Central Bank of Nigeria continued to closely monitor activities at the official window, with the mean exchange rate hovering around the ₦1,454 mark.
They noted that although the festive season typically triggers increased demand for foreign exchange for travel, imports and personal expenses, the official market has remained largely resilient, supported by sustained interventions and improved foreign currency inflows, particularly from diaspora remittances.
At the parallel market, commonly referred to as the black market, the naira exchanged at weaker levels, reflecting higher retail demand for cash dollars during the holiday period.
Bureau De Change operators in Lagos and Abuja quoted buying rates ranging between ₦1,465 and ₦1,475 per dollar, while selling rates stood between ₦1,480 and ₦1,490.
Analysts observed that the gap between the official and parallel market rates remained relatively narrow, a development they linked to ongoing exchange rate convergence policies by monetary authorities.
However, they added that the informal market continued to record brisk activity, as individuals and small businesses sought quicker access to foreign currency to meet festive season obligations.
Overall, market watchers said the naira’s performance reflected cautious stability, with attention focused on how liquidity conditions and policy interventions would shape trading outcomes in the remaining days of the year.
