The Nigerian currency, the naira continues its free fall as it slumped to N1,040 in the parallel market.
Market watchers say the ongoing trend of demand surpassing supply seems to be a contributing factor.
According to Nairametrics, forex traders report inflow quotes ranging from N1,035 to N1,045 per dollar, indicating heightened scarcity.
Regardless of the parallel market performance, the official trade rate remains at N776.8/$1, highlighting a notable disparity between the experiences of Nigerians in official and unofficial channels.