When I wanted to trade today, I saw naira has climbed to 1490 to a dollar in the exchange market. Will this continue or government are only doing market manipulation?
With what I am reading, analysts are predicting that dollar price will continue to increase but the price of what we are importing are not falling. Do you think increasing the value of naira while things are still expensive a good idea?
Op from the pitch of your written I can get a picture of how happy you are that naira is rising against the dollar. Your joy will melt reminiscing how much was the value of the naira to the dollar in the early 70s when 1 naira was valued above the dollar. You'll agree with me that with that there is nothing special to be joyful about.
What the government are doing now can be conceived as collateral damage to the naira and it's far bad that be it that the naira gains value against the dollar the prices of commodities imported and home grown still remains same or increases. Now nothing in the country drops in price soon as it goes up, this is to tell us that all this naira rising value against the dollar is all manipulative and not by market determinants.