The naira strengthened against the dollar after Christmas, gaining ₦15 at the parallel market and improving slightly at the official window amid falling forex demand
Naira Appreciates After Christmas as Dollar Demand Drops
The naira strengthened notably against the United States dollar on Monday, buoyed by reduced demand in the foreign exchange market following the Christmas holidays.
Checks at the parallel market showed that the naira appreciated to ₦1,475 per dollar, improving from the ₦1,490 it traded before Christmas.
A Bureau De Change operator in Wuse Zone 4, Abuja, Abubakar Hassan, attributed the gain to lower pressure on dollar demand during the festive slowdown.
“It was due to drop in demand,” Hassan said.
The movement represents a ₦15 appreciation against the dollar in a single trading session, offering temporary relief to traders and consumers grappling with foreign exchange volatility.
The official foreign exchange market mirrored the positive trend. Data from the Central Bank of Nigeria (CBN) showed that the naira strengthened to ₦1,442.51 per dollar on Monday, up from ₦1,443.38 recorded on Wednesday, December 24, 2025.
At the official window, the local currency gained ₦0.87, marking a modest but symbolic improvement on Christmas Eve levels.
Market analysts link the currency’s improved performance to Nigeria’s rising external reserves, which recently grew by 7.28 per cent on a month-on-month basis, boosting confidence in the country’s foreign exchange position. Read More
