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Dollar Vs Naira: Exchange Rate Update For December 16, 2025
According to Ireporter Online, the naira continued to face pressure against the United States dollar at the parallel market on Monday, December 15, 2025, as the local currency weakened further amid persistent foreign exchange challenges. Market checks revealed that the dollar was sold for as high as ₦1,485, while buyers purchased the greenback at approximately ₦1,480 at the Lagos parallel market, commonly referred to as the black market. Currency dealers at various Bureau De Change outlets confirmed the rates, noting ongoing volatility driven by demand pressures.
Meanwhile, the Central Bank of Nigeria’s official exchange window recorded lower rates for the dollar against the naira. Data from the apex bank showed that the official exchange rate ranged between ₦1,450 at the lowest end and ₦1,455 at the highest end for the same trading period. Despite the disparity between the official and parallel markets, the CBN has consistently reiterated that it does not recognize transactions conducted at the black market and has advised individuals and businesses seeking foreign exchange to channel their requests through authorized banks.
Analysts caution that foreign exchange rates may vary slightly across markets, as buying and selling prices are influenced by location, demand, and prevailing market conditions at the point of transaction.
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