The Nigerian Naira has weakened again in the parallel market, now trading at N1,390 to one US dollar. This latest drop shows the local currency losing more value against the dollar in recent days. Many people who buy and sell foreign currency outside the official banks are feeling the change immediately.

This depreciation means that anyone needing dollars for business, travel, or imports will now pay more naira to get the same amount of foreign money. The parallel market rate is often higher than the official one because it is driven by demand and supply on the streets.

The gap between the two markets continues to worry many Nigerians.

Ordinary citizens are already seeing the effect in everyday life. Prices of imported goods like food items, fuel, spare parts, and medicines are likely to rise soon. Families and small businesses that depend on foreign items are finding it harder to cope with the increasing costs.

The development has added pressure on the economy at a time when many households are already struggling with high living expenses. Traders and importers say the unstable exchange rate makes planning difficult and affects their ability to stock goods.

As the naira continues to face challenges, experts hope that stronger measures will be taken to stabilise the currency. For now, the latest rate of N1,390 to the dollar in the parallel market is a clear sign that the pressure on the naira remains high. Many Nigerians are watching closely to see what happens next.