Naira to Dollar official & black market rates today, December 8
The Naira Dollar exchange rate moved into the new week with a calm tone on Monday, as the Naira Dollar exchange rate held firm across the official window and the parallel market.
Market watchers also noted that the Naira Dollar exchange rate showed no major swings in early trading, while the Naira Dollar exchange rate stayed within familiar bands seen last week.
Overall, the Naira Dollar exchange rate opened the week with quiet movement and steady demand patterns.
Official Window Shows Stability
Data from the Nigerian Foreign Exchange Market on Monday morning placed the indicative rate at N1449.84 per dollar.
This figure reflects similar numbers recorded at the end of the previous week.
Analysts believe recent monetary moves by the Central Bank of Nigeria are helping the market maintain this stable position.
They added that liquidity remains tight, yet the rate continues to withstand pressure from importers and other dollar buyers.
Parallel Market Maintains Its Premium
In the parallel market, traders in cities such as Lagos and Abuja quoted prices between N1480 and N1490 per dollar.
This familiar gap between both markets remains a major concern for businesses that depend on foreign exchange.
Observers warn that the difference between official and informal rates continues to affect investor confidence.
They also expect close monitoring of the market as the year-end approaches, especially if any major policy updates or fresh dollar inflows occur.
