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?
Inflation has always been a major wahala for the Nigerian economy and it doesn't really matter whether the rate of naira goes up or down, things will just continue to be expensive. Because I've come to understand that the price of things in the country isn't really influenced by the rate of dollar but the sellers themselves. Na sellers dey fix their own price since there's really no regulatory agencies saddled with the responsibility of regulating price.