Exchange rate policy in nigeria pdf

18 Oct 2010 Key words: Nigeria manufacturing sector, exchange rate, fluctuations. INTRODUCTION. Following the fluctuation of the Naira in 1986, a policy. In particular, there is a significant divide between policy-makers and economists regarding the impact of foreign exchange policies on growth. Whereas laymen  Abstract. The discussion on exchange rate policy is dominated by the so-called “ impossible trinity”. the exchange rate policy of Slovenia before its EMU membership. Available at: http://www.unescap.org/drpad/projects/fin_dev/ bofinger.pdf.

Exchange rate policy also determines the mechanism for channelling foreign exchange to end-users and therefore, reflects the institutional framework, system of exchange rate determination and allocation of foreign exchange as well as the policy options for managing the exchange rate. Foreign Exchange Rate Management in Nigeria The main objectives of exchange rate policy in Nigeria are to preserve the value of the domestic currency, maintain a favourable external reserves position and ensure external balance without compromising the need for internal balance and the overall goal of macroeconomic stability. Exchange Rate Movement The average AFEM Exchange rate is the price of the currency of one country expressed in terms of the currency of another. For example, the Nigeria Naira has exchange rate against the U.S. dollar and many other currencies. It may be expressed as nominal exchange rate or real exchange rate. exchange rate on economic growth in Nigeria over a period of 28 years (1986 – 2013). Empirical Review Of Exchange Rate And Economic Growth Exchange rate is the price of one country’s currency in relation to another country. It is the required amount of units of a currency that can buy another amount of units of another currency. The first Ease of the Nigerian exchange rate policy began in 1959 with the establishment of the Central Bank of Nigeria (CBN). The CBN was specifically set up to manage the country's currency with the objective of attaining a sound and stable national currency. The pegged exchange rate system was the first exchange rate regime adopted in Nigeria. This decision marked a major shift in exchange rate policy and in the manage- ment of foreign exchange resources. To appraise the effectiveness of this change, it is necessary to document the institutional reforms and their particular implications for the allocation of FOREX and the determination of the rate of exchange of the naira. Interest and Exchange Rates Management in Nigeria: A Macroeconomic Implications By Tony Elumelu Economic theory is replete with definitions and types of interest rates. It is however, not the intention of this paper to dwell on this. What is important here is that interest rates, like other

Exchange Rate Fluctuation and the Nigeria Economic Growth. Based on these findings, this paper recommends that the Central bank for policy purposes should ensure that stern foreign exchange control policies are put in Full Text: PDF

In the diversity of exchange-rate regimes in Sub-Saharan policy Nigeria were subject to frequent policy interventions, with the consequence of unsustainable. In Nigeria, the exchange rate policy has undergone substantial transformation from the immediate post- independence period when the country maintained a fixed  In Nigeria, the exchange rate policy has undergone substantial transformation from the immediate post-independence period when the country maintained a fixed  The Nigerian economy appears prone to external balance disequilibrium1. During its periods of fixed exchange-rate regime between 1960 and 1986, it recorded 

Impact of Exchange Rate Fluctuation on Nigeria’s Economic Growth 1981-2015, full project materials. Exchange rate fluctuation on Nigeria economic growth is an important economy metric as it reflects underlying strength and competitiveness with world economies (Asinya and Takon, 2014; Akonji, 2013).

13 Mar 2019 both the policy and decision makers in the energy sector as it Nigeria. 1980 to 2010. OLS. Exchange rate volatility has a positive Available online: http://repec. org/esFEAM04/up.29293.1080736850.pdf (accessed on 7  30 Jul 2011 depreciation can bring about an increase in inflation rate in Nigeria. regime, a case for policy of flexible exchange rate was suggested as an 

Exchange Rate Fluctuation and the Nigeria Economic Growth. Based on these findings, this paper recommends that the Central bank for policy purposes should ensure that stern foreign exchange control policies are put in Full Text: PDF

tender in Nigeria. Section from refusing to accept the naira as a means of monetary policy involves how money in circulation. This could be done using various tools such as interest rates, exchange rates, printing of more money and controlling how much money is available to banks even out of . Fiscal policy on the Nigeria's Exchange Rate against USD averaged 306.455 (NGN/USD) in Feb 2020, compared with 306.459 NGN/USD in the previous month. Nigeria's Exchange Rate against USD data is updated monthly, available from Jan 1957 to Feb 2020. The data reached an all-time high of 309.230 in Aug 2016 and a record low of 0.530 in Nov 1980. CEIC calculates monthly average Exchange Rate against USD from daily

In Nigeria, the exchange rate policy has undergone substantial transformation from the immediate post- independence period when the country maintained a fixed 

that depreciation of the exchange rate has a positive effect on trade balance in the long Trade promotion in Nigeria has been one of the major policy objectives since Publication, available at: www.banrep.gov.co/docum/ftp/ borra120.pdf.

The main objectives of exchange rate policy in Nigeria are to preserve the value of the domestic currency, maintain a favourable external reserves position and ensure external balance without compromising the need for internal balance and the overall goal of macroeconomic stability. Exchange Rate Movement The average AFEM