The Nigerian naira recorded mild fluctuations against the United States dollar on Christmas Eve, Tuesday, December 24, 2025, as trading opened across the official and parallel foreign exchange markets.
Findings from the Nigerian Foreign Exchange Market (NFEM) and checks across major Bureau De Change hubs showed that the local currency remained largely stable despite heightened seasonal demand traditionally associated with the festive period.
At the official trading window, the naira exchanged at an average rate of ₦1,453.70 to the dollar, reflecting a slight appreciation from the ₦1,461.50 recorded at the close of trading on Tuesday.
Market data indicated that the currency initially weakened to a high of ₦1,460.75/$ during early morning trades before firming up as liquidity conditions improved later in the session.
Naija News reports that the Central Bank of Nigeria’s reference “mean rate” hovered around the ₦1,454 mark, underscoring relative calm in the official segment of the market.
According to Vanguard, a currency trader in Lagos noted that the official window had shown resilience despite increased demand for travel allowances and corporate payments.
“Normally, this period comes with serious pressure, but consistent interventions and inflows, especially from diaspora remittances, have helped stabilise the market,” the trader said.
Meanwhile, the parallel market continued to trade at a premium to the official rate, though the gap remained relatively narrow.
Findings at BDC locations in Lagos and Abuja revealed that the dollar was bought at rates ranging between ₦1,465 and ₦1,475, while selling prices stood between ₦1,480 and ₦1,490 per dollar.
Operators attributed the sustained demand in the informal market to retail buyers seeking quick access to foreign currency for holiday-related expenses.
Analysts say the limited disparity between the official and parallel markets reflects the impact of ongoing foreign exchange reforms and convergence policies implemented by financial authorities.
They also observed that the stability recorded in the final week of 2025 marks a significant shift from the sharp volatility experienced during previous festive seasons.
According to financial experts, improved transparency in price discovery under the NFEM and a more balanced supply-demand structure have helped calm speculative pressures on the naira.
As the year draws to a close, market participants expect the naira to remain within the ₦1,450 to ₦1,500 range, barring any major global economic disruptions or sudden shocks to oil prices and capital flows.
For now, the naira appears set to end the year on a steadier footing, offering cautious optimism to businesses and investors alike.
