The exchange rate between the Nigerian Naira and the British Pound Sterling demonstrated a mixed performance on Monday, December 15, 2025, across the official and the parallel markets.

In the official Nigerian Foreign Exchange Market, the Pound Sterling was trading at an average rate of ₦1,936.86 per Pound as the early trading hours concluded.

This specific rate represents the prevailing value used by investors and exporters accessing the formal foreign exchange window.

Market data for early trading indicated a marginal depreciation of the Naira against the Pound when compared to the closing figures of the previous trading day. Market participants are keeping a close watch on the NFEM, hoping for improvements in liquidity and potential intervention actions from the Central Bank of Nigeria.

Simultaneously, the parallel market, commonly referred to as the black market, quoted a higher exchange rate for the Pound Sterling. Dealers in major urban centers such as Lagos and Abuja were reportedly buying the Pound at an approximate range of ₦1,940, ₦1,950 and selling it at an average rate of ₦1,970 per Pound.

The substantial gap between the official NFEM rate and the parallel market rate continues to exist. This persistent disparity highlights the ongoing pressure from foreign exchange demand that is not being adequately satisfied through formal banking channels. The higher rate observed in the parallel market is frequently a primary factor impacting the total cost of imported goods and services within the country.

Today’s specific exchange rate movements are taking place against a backdrop of global economic uncertainty and domestic monetary policy adjustments. According to financial analysts, the rate movement is being influenced by various factors, including fluctuations in crude oil prices, the current level of the nation’s foreign reserves, and the continuous efforts by the CBN aimed at stabilizing the Naira and unifying the multiple existing exchange windows.