Naira Opens Last Week of 2025 Strong Against US Dollar, CBN Releases New Exchange Rates
- The naira opened the last week of 2025 stronger, appreciating against the US dollar in both the official and parallel markets
- Latest data from the CBN shows gains in the NAFEM window, with the naira closing at N1,442.51/$1 on Monday, December 29
- Finance Minister Wale Edun has allayed economic fears associated with President Donald Trump's air strike against terrorists in northern Nigeria
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The naira resumed from the Christmas holiday on Monday, December 29, with an 87 kobo, or 0.06% gain against the U.S. dollar in the Nigerian Foreign Exchange Market (NFEM), selling for N1,442.51/$1, compared with last Wednesday’s price of N1,443.38/$1.
Source: Getty Images
Similarly, the naira strengthened against the pound sterling in the official market, rising by N3.91 to close at N1,945.66/£1, up from N1,949.57/£1 in the previous session. It also gained N4.25 against the euro, ending at N1,697.40/€1 compared with the prior session’s N1,701.65/€1.
At the GTBank FX counter, the naira appreciated by N8 against the U.S. dollar, closing at N1,457/$1, up from N1,465/$1 the day before.
In the parallel market, also known as the black market, it was the same story for the naira against the US dollar.
Traders who spoke to Legit.ng confirmed that the dollar appreciated against the Nigerian currency.
Abudullahi, a trader said:
"We sold the dollar at N1,470/$1 on Monday compared with the N1,480/$1 it was exchanged last week."
Why naira appreciated
The naira performance on Monday was supported by reassurances from Finance Minister and Coordinating Minister of the Economy, Wale Edun, who told investors and international partners that Nigeria’s economy remains stable and resilient, despite a joint Nigerian-U.S. security operation in Sokoto on Christmas Day.
Legit.ng reports that the December 25 operation targeted ISIS-linked camps in Sokoto, with no civilian casualties reported. U.S. President Donald Trump described the strikes as “powerful and deadly” actions against “ISIS terrorist scum,” aimed at protecting Christian communities.
Ahead of the market reopening after the Christmas break, Edun stressed that Nigeria is “not at war with itself, nor with any nation,” while taking decisive action against terrorism in partnership with trusted international allies.
Combined with last week’s $150 million intervention by the Central Bank of Nigeria (CBN), these measures helped relieve pressure on the naira.
Analysts expect the naira to remain relatively stable in the near term, supported by policy measures and rising market confidence.
Source: Getty Images
Snapshot of naira rates in the official market:
- CFA: N2.59
- Yuan/Renminbi: N205.87
- Danish Krona: N227.25
- Euro: N1,697.40
- Yen: N9.23
- Riyal: N384.59
- South African Rand: N86.59
- Swiss Franc: N1,826.43
- Pounds Sterling: N1,945.66
- US Dollar: N1,442.51
Rewane releases naira to USD exchange rate projection for 2026
Earlier, Legit.ng reported that leading Nigerian economist and CEO of Financial Derivatives Company (FDC), Bismarck Rewane, has projected a stronger and more stable naira in 2026.
According to him, the currency would trade within the N1,450 to N1,500 per US dollar band, an improvement from his 2025 prediction of N1,600 and N1,650.
The economist disclosed this in a presentation at the Parthian Economic Discourse 2025 held in Lagos recently.
Source: Legit.ng
