The Nigerian Naira continued its downward trend against the US dollar, falling to a new low of N1,385 per dollar in the parallel market yesterday. This represents a further depreciation from Tuesday’s rate of N1,380 per dollar. The exchange rate decline indicates increased pressure on the Naira. This information was reported by Vanguard News. The parallel market rate differs from the official exchange rate, often reflecting demand for dollars outside official channels. The continued depreciation raises concerns about import costs and potential inflationary pressures within the Nigerian economy. No specific reasons for the decline were provided in the report.