The exchange rate between the Naira and the US Dollar remained relatively stable across both the official and parallel markets on Wednesday, December 10, 2025, as the market continues to react to the Central Bank of Nigeria’s (CBN) recent structural overhaul of the Bureau de Change (BDC) segment.
NFEM (Official) Rate
Data from the Nigerian Foreign Exchange Market (NFEM), also known as the official window, shows the Naira trading at approximately ₦1,452.16 per Dollar today. The currency opened the day’s trading session at roughly ₦1,451.30, reflecting a slight intraday depreciation of less than 0.1%.
Throughout the week, the official rate has hovered within a tight band, with the CBN reporting a closing rate of ₦1,454.00 earlier in the week on Monday, December 8. The market has seen a “High” of around ₦1,457.00 and a “Low” of ₦1,450.25 in recent sessions, signaling improved liquidity and reduced volatility compared to previous quarters.
Parallel Market Rate
In the parallel (black) market, the Naira is trading closely with the official rate, exchanging hands between ₦1,460 and ₦1,478 per Dollar depending on the location and volume of transaction.
Market trackers indicate that the spread between the official and parallel market rates has narrowed significantly, now standing at less than ₦30. This convergence is widely attributed to the CBN’s aggressive regulatory actions taken late last month to curb speculation and illicit arbitrage.
Market Drivers and CBN Reforms
The relative stability in the foreign exchange market comes just days after the CBN concluded a major “market reset” involving the licensing of BDC operators. On Tuesday, reports confirmed that the apex bank has granted final approval to only 82 BDC operators under a new, stricter regulatory framework, while over 4,000 licenses remain revoked or non-compliant.
The new structure, which became effective recently, categorises operators into Tier 1 (requiring ₦2 billion capital) and Tier 2 (requiring ₦500 million capital). This move is designed to professionalise the sector, ensure higher capitalisation, and eliminate the “briefcase” BDCs that previously distorted market rates.
Analysts observe that while the Naira has not made significant gains against the Dollar in December, the reduction in volatility is a positive sign for importers and businesses planning for the upcoming fiscal year.
Outlook
Traders anticipate the Naira will maintain this range of ₦1,450 – ₦1,480 through the remainder of the week as the market digests the full impact of the BDC consolidations. However, observers remain cautious, monitoring global oil prices and Nigeria’s external reserve positions as key determinants for the currency’s performance heading into 2026.
The post Dollar to Naira exchange rate today, December 10, 2025 appeared first on Vanguard News.
