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?
If you see the price of Dollar/Naira to have climbed to 1,490 then this could be as a result of different implementation by the Nigerian government to regulate price of dollar so it doesn't surge too often. The price of Naira is going up which is not really good for the country because it's going to increase inflation and make price of food to skyrocket.
You might be happy seeing the price of Naira going up because you want to exchange your dollar to Naira, hoping to get paid high amount so that could solve the things you want to use it for. How I wish the price of Naira to dollar could fall to 700 from the current price so inflation can be reduced drastically and people will be able to afford regular things.