Naira Stables Across Markets on Dec 15

The naira maintained its strength against the U.S. dollar on Monday, December 15, across both the parallel market and the Nigerian Foreign Exchange Market (NAFEM).

Currency dealers in Abuja told Economic Confidential that the naira traded at ₦1,480/$1 for buying and ₦1,490/$1 for selling, unchanged from Friday’s closing rates.

At the official window, the naira also remained stable at ₦1,451/$1, up from weekend’s trading rate at ₦1,454/$1.

Analysts noted that the steady performance across both markets underscores persistent pressure within Nigeria’s foreign exchange environment. They attributed ongoing volatility to speculative trading and lingering uncertainty surrounding the policy direction of the Central Bank of Nigeria (CBN).