The Effect Of Exchange Rate Fluctuation On Imported Goods In Nigeria

THE EFFECT OF EXCHANGE RATE FLUCTUATION ON IMPORTED GOODS IN NIGERIA (A CASE STUDY OF TOYOTA NIGERIA LIMITED, LAGOS)

Over the years the Nigeria economy witnessed instability and all these can narrow down to the upheaval of the exchange rate. This led the Nigeria government into promulgating the structural adjustment degree 23 of July, 1986. Exchange rate policy was one of the policies embarked upon to turn around the economy. Ojo (1998:6) said that movement on the exchange rate are known to have ripple effect on other economic variables such as interest rate, unemployment, money supply import volume etc. these facts underscore the importance of exchange rate to the economy of every what opens its doors to International Trade in goods and services. In a market friendly economic environment, the exchange rate should respond to the market forces of demand for supply of foreign exchange. [Read more…]

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