Why Nigeria FOREX Is Escalating - Business - Nairaland
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| Why Nigeria FOREX Is Escalating by Lawalemi(m): 7:11pm On Feb 15, 2016 |
I've queried why the Nigeria foreign exchange (dollar to naira) is escalating unabatedly. There appear to be a disconnection between the falling oil price and the varying dollar/naira rates. Thus I can't pin the widening difference to the falling oil price. Therefore, I want sound contributions on why this increasing difference and why CBN has not been able to arrest it |
| Re: Why Nigeria FOREX Is Escalating by mekaboy(m): 9:53pm On Feb 15, 2016 |
Lawalemi: Falling oil price means we don't get much forex. Less forex means less reserve. This means CBN can provide dollars for import school fees, travel etc. This means scarcity of forex as demand increases. 1 Like |
| Re: Why Nigeria FOREX Is Escalating by Lawalemi(m): 6:00am On Feb 16, 2016 |
mekaboy:Thanks bruv for the sound contribution |
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