Nigeria’s currency extended its downward trend in the parallel market on Thursday, with the naira depreciating to N1,410 per US dollar, down from N1,405/$1 recorded a day earlier.
The five-naira decline underscores the continued volatility in the foreign exchange market, despite ongoing efforts by monetary authorities to stabilise the currency.
The latest movement reflects persistent demand pressures in the unofficial market, where the naira continues to face fluctuations amid concerns over foreign exchange supply.
