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?
Seeing the exchange rate, now dollar is now 1490 is actually a very serious case. So many people are actually wondering the same thing, will this dollar rate continue to go up and or is the federal government just trying to control the market for now, and it's getting so many of us concerned. But the actual truth why the value of naira is still dropping and will continue dropping, is that we import things alot, and we don't even produce valuable things in our local market, and as long as we still use dollar to buy things form abroad, dollar will continue to rise and rise and rise. Now your question is trying to increase the value of naira, while the price of good in this country are still very high, to me even if they have or have drawn out that kind of plan it will only look good on punch, News papers and the rest but the hardship in this country continues.