The Nigerian Naira experienced movement in the unofficial exchange market yesterday, reaching N1,400 per US dollar. This represents a slight depreciation from Tuesday’s rate of N1,410 per dollar. The exchange occurred in the parallel market, indicating transactions outside of official channels. This fluctuation highlights ongoing instability in Nigeria’s foreign exchange rate. The reported figures come from Vanguard News, a Nigerian news outlet. The Naira’s performance in the parallel market often differs from the official exchange rate set by the Central Bank of Nigeria. Further monitoring is needed to assess the sustainability of this new rate and its potential impact on the economy.