The Nigerian naira remained under pressure this week as continued volatility in the foreign exchange market unsettled businesses and consumers.
Currency traders said demand for the United States dollar remained strong, while supply conditions continued to fluctuate across market segments.
The latest movement has renewed concern among importers who rely heavily on foreign exchange for raw materials, machinery and finished goods.
Economists noted that exchange rate instability often feeds inflation by increasing the local cost of imported products and services.
Small businesses have also expressed concern, saying unstable pricing makes planning difficult and reduces profit margins.
Financial analysts said stronger foreign inflows, improved confidence and policy consistency will be important to achieving lasting stability.
Despite the pressure, experts maintain that long-term reforms could still strengthen the naira if properly sustained.
