Dollar–Naira Exchange Rate Update For December 8, 2025

The naira continued to trade under pressure against the United States dollar at the parallel market on Sunday, December 7, 2025, as the exchange rate reflected persistent demand for foreign currency. According to Ireporter Online, the dollar was sold at ₦1,490 and bought at ₦1,475 by traders at the Lagos parallel market, popularly known as the black market.

Market checks revealed steady activity among Bureau De Change operators, as individuals seeking foreign exchange exchanged their dollars within the stated range, with slight variations depending on location and volume of transactions. Despite the widespread reliance on the parallel market, the Central Bank of Nigeria has consistently warned that it does not recognize this segment of the foreign exchange market and has advised Nigerians to conduct their forex transactions through licensed banks.

At the official window, data obtained showed that the dollar traded within a controlled range, with the highest rate recorded at ₦1,456 and the lowest at ₦1,448 for the day. Analysts note that the gap between the official and parallel market rates continues to reflect underlying pressure on foreign exchange supply.

Currency dealers also cautioned that exchange rates may vary slightly from place to place due to differences in demand, transaction size, and market volatility. Nigerians engaging in foreign exchange transactions have therefore been advised to verify rates before concluding any deals.