Dollar to Naira Exchange Rate Today, December 4, 2025: Naira Holds Firm as Official and Parallel Rates Narrow

The Nigerian Naira displayed continued stability against the US Dollar in early trading on Thursday, December 4, 2025, with the gap between the official and parallel markets remaining tight as the year winds down.

Official Market (NFEM)

According to data from the Nigerian Foreign Exchange Market (NFEM), the Naira is currently trading at around ₦1,445.54 per Dollar. Intraday movements show the currency oscillating between ₦1,448.20 (high) and ₦1,444.90 (low), reflecting a steady trading pattern.

Analysts attribute the performance to the Central Bank of Nigeria’s ongoing rate-unification efforts and improved market liquidity under the Electronic Foreign Exchange Management System (EFEMS).

Parallel Market

In the parallel or black-market segment, the Naira trades at an average of ₦1,468 per Dollar, keeping the premium over the official rate relatively compressed compared to previous years. Traders report moderate demand and a stable range near the ₦1,470 level observed earlier in the week.

Economic Backdrop

The currency’s steadiness comes as key macroeconomic indicators continue to improve. One year after EFEMS was fully rolled out, the Naira has rebounded significantly from its 2024 lows.

Inflation Trend

The National Bureau of Statistics (NBS) recently announced that headline inflation eased to 16.05% in October 2025, marking the seventh consecutive month of decline. Analysts say this sustained moderation in prices has helped reinforce confidence in the Naira.

Monetary Policy

To maintain economic stability, the CBN’s Monetary Policy Committee (MPC) voted on November 25 to keep the Monetary Policy Rate (MPR) unchanged at 27%. The decision follows a slight reduction in September and signals the apex bank’s focus on containing inflation while supporting exchange-rate consolidation.

Market Outlook & Policy Changes

Investor sentiment remains cautiously upbeat, bolstered by steady foreign portfolio inflows that have lifted external reserves to about $44.66 billion.

Businesses and consumers are also preparing for the CBN’s newly introduced cash-management rules. Beginning January 1, 2026, stricter cash withdrawal limits will take effect — a policy aimed at reducing cash-handling costs, combating money laundering, and accelerating adoption of electronic payment channels. Analysts expect the reforms to support the Naira’s long-term stability.

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