The British Pound Sterling recorded marginal movements against the Nigerian Naira on Thursday, December 4, 2025, reflecting a continued trend of convergence between the official and parallel market rates.

According to real-time data from the Nigerian Foreign Exchange Market, the official exchange rate for the Pound is currently trading at approximately ₦1,930.87 to the pound. This represents a slight decline of roughly 0.18% from the previous day’s rate of ₦1,933.07, highlighting a stable but cautious trading session in the official window.

Data from the FMDQ and authorised dealers indicates a tight trading range for the day. The Opening Rate was ₦1,909.61, the Daily High was ₦1,931.13, the Daily Low was ₦1,911.11, and the Close was ₦1,930.87. Commercial lenders are quoting rates within the ₦1,914.61 (Bid) and ₦1,931.27 (Offer) bandwidth, maintaining liquidity in the official channels.

In the parallel (black) market, the Naira is trading at near parity with the official rate, a signal of the reduced arbitrage opportunities that characterised previous years. Street traders and unauthorised dealers are exchanging the Pound at rates ranging between ₦1,927.00 and ₦1,935.00. Some digital money transfer operators such as Remitly are offering slightly higher promotional rates for inflows, peaking around ₦1,977.24, incentivising diaspora remittances.

Market analysts note a strengthening of the Naira compared to this time last year. On December 4, 2024, the GBP/NGN rate stood significantly higher at approximately ₦2,067.69. Today’s rate of roughly ₦1,930 represents a year-on-year appreciation of the Naira against the Pound by approximately 6.68%, attributed to sustained FX reforms and market stabilisation measures.

The Pound’s position against the Naira is also influenced by its performance against the US Dollar. With the NFEM USD/NGN rate hovering around ₦1,448 – ₦1,450, the current Pound rate aligns with the standard GBP/USD cross-rate of approximately 1.33.