Emmanuel OchayiThe Nigerian naira remained stable in the parallel market, trading at N1,570 per US dollar from Wednesday through Friday, December 14, 2025. This followed fluctuations earlier in the week as foreign exchange pressures continued to shape the market.
A Bureau De Change (BDC) operator in Wuse Zone 4, Abuja, confirmed that the exchange rate remained steady, indicating a possible temporary halt in depreciation. “We have seen the naira trade at N1,570 per dollar since Wednesday. Buyers and sellers are observing the market to see what will happen next,” he said.
Join our WhatsApp ChannelOfficial data from the Central Bank of Nigeria (CBN) showed that the naira closed at N1,513.00/$1 on Wednesday before depreciating slightly to N1,515.00/$1 on Thursday. By Friday, CBN figures revealed a rate of N1,506.87/$1 for buying and N1,507.87/$1 for selling, suggesting relative stability in the official market.
Naira’s Performance Against Other Currencies
The naira also saw mixed movements against the British pound and the euro in the parallel market over the past week.
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- On February 13, the pound hit N2,000 before declining to N1,985 on February 14.
- The euro remained relatively stable, trading between N1,595 and N1,620.
An Abuja-based forex trader explained the market trends: “The demand for the dollar is still strong, but we are not seeing as much volatility as in previous weeks. This could be due to increased dollar inflows from exporters and remittances.”
Factors Influencing the Naira
Economic analysts point to various factors affecting the naira’s stability, including dollar supply from autonomous sources, remittance flows, and CBN policies. The apex bank has taken steps to improve dollar liquidity and curb speculative activities.
A financial expert at a Lagos-based investment firm commented: “The CBN’s recent efforts to boost forex reserves and regulate Bureau De Change operations have had some impact. However, the long-term outlook for the naira depends on sustained dollar inflows and policy direction.”
Despite recent stabilisation, the naira has lost about 70% of its value against the US dollar since 2023, when authorities loosened foreign exchange controls.
The market will continue to react to economic policies, global currency trends, and domestic demand for foreign exchange as Nigeria navigates ongoing forex challenges.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
