As of 3rd December 2025, the Nigerian Naira displayed mixed movements against major currencies across official and parallel market segments, according to data from the Central Bank of Nigeria (CBN), LEMFI, and REMITLY.
In the Nigerian Autonomous Foreign Exchange Market (NAFEM), the naira strengthened marginally by 0.21% against the US dollar, closing at N1,447/$1 on 2nd December 2025, compared to N1,450.01/$1 on 1st November 2025, representing a gain of N3.01 per dollar.
In the parallel/black market, data from NgnRates.com and Abokiforex.app reveal, the naira was quoted for trading during the day at N1,460-N1,470 (Buy) and N1,475 (Sell).
In contrast, the International Money Transfer Operators (IMTO) segment, tracked via remittance platforms such as LEMFI and REMITLY, showed the naira weakening slightly by 0.07% against the US dollar, trading at N1,471/$1 on 3rd December, up from N1,470/$1 the previous day (a depreciation of N1.00).
Against other major currencies in the IMTO segment:
- The naira depreciated by 0.56% against the British Pound, moving from N1,948/£1 to N1,959/£1 (+N11.00).
- The naira weakened marginally by 0.12% against the Euro, rising from N1,704/€1 to N1,706/€1 (+N2.00).
- Similarly, the naira lost 0.19% against the Canadian Dollar, moving from N1,051/$1 to N1,053/$1 (+N2.00).
Meanwhile, Nigeria’s external reserves continued their gradual build-up, rising by 9.19% to $46.70 billion according to CBN governor Olayemi Cardoso, enough to cover 10.3 months of imports, supported by stable external conditions.
Overall, while the official NAFEM window recorded modest naira appreciation against the dollar, the IMTO rates, often seen as a closer reflection of parallel market dynamics, indicated slight depreciation across major currencies.
