The Nigerian Naira has fallen again against the US dollar, marking its second consecutive day of depreciation. This continued slide comes as pressure remains high in the foreign exchange market. Traders and forex watchers say demand for the dollar has continued to rise, while supply remains tight, pushing the currency further down.

Market reports indicate that the Naira lost more value at both the official and parallel markets. At the official window, the local currency weakened as traders struggled to meet import and business dollar demands. Meanwhile, in the black-market segment, exchange rates also climbed higher, leaving many Nigerians worried about rising costs of goods and services.

Analysts have linked the Naira’s latest fall to renewed dollar demand from importers and investors. They also note that foreign inflows remain low, making it difficult for the Central Bank to hold the currency steady. Economic experts warn that if the pressure continues unchecked, prices of food, fuel, and other essential items may further increase.

The depreciation has sparked fresh calls for stronger monetary policies and more aggressive interventions. Some experts believe boosting local production, attracting foreign investments, and reducing over-dependence on imports could help stabilize the currency in the long run. Others are urging the government to increase transparency in the forex market to restore investor confidence.

Meanwhile, Nigerians continue to feel the impact of the rising exchange rate on daily expenses. From transport fares to household items, many citizens hope for quick and effective action to strengthen the Naira and ease the financial burden on households and businesses across the country.