Effect of Exchange Rate on Goods and Services in Nigeria
DOI:
https://doi.org/10.55927/ijbae.v3i3.9553Keywords:
Exchange Rate, Domestic Goods, Imported Goods, Price FluctuationAbstract
The study examined the effect of exchange rate on goods and services in Nigeria with the objectives to analyze the effect of exchange rate fluctuations on prices of domestic goods and to investigate the extent to which exchange rate change has affected the prices of imported goods and services. The primary data were collected through the administration of questionnaire to the respondents. It was found out that the exchange rate has a significant effect on the prices of domestic goods and services as the coefficient of the independent variable is positive showing 0.628; it was established that the exchange rate has an effect on the prices of imported goods and services, as the coefficient of the independent variable is positive (0.428) and the sig value is less than 0.01. It was recommended that the government should fund all the micro, small, and medium scale enterprises in Nigeria through the Bank of Industry in order to have more exports than imports.
Downloads
References
Adu, C.A, (2023). COVID-19 Pandemic and Ecobank’s Financial Performance in Lusada Ogun State Nigeria. African Scholars Multidisciplinary Journal 5,(1): 208-216.
Adu, C.A, Oke-Potefa, O.S and Adeleke, B.M (2023). Nigeria’s Currency Redesign: Cashless Policy and the Unbanked Vulnerables Sapientia International Journal of Arts, Humanities and Development Studies,6(3):15-21.
Adu, C.A (2014). Banking Sector Consolidation and Stock Market Performance, Applied Economics and Business Review 1(4):114-120.
Abdullina, Aida and Corina M. Haita ( 2006 )“Does a “hard-peg” exchange rate make a country more susceptible to banking crises?” Term Paper Spring Term, 2006, Budapest: Central European University.
Akanji, O. O. (2006), "The Achievement of Convergence in Nigeria Foreign Exchange Market", In The Dynamics of Exchange Rate in Nigeria, Central Bank of Nigeria Bullion, 30( 30): 10-16.
Akinlo, Anthony. Enisan. and Odusola, Ayodele. F. (2003). “Assessing the impact ofNigeria’s naira depreciation on Output and Inflation”. Applied Economics. 35:691 – 703.
Akpan, Patrick L. (2008). “Rethinking Economic Reforms and Foreign Exchange Behaviour in an Emerging Economy: Evidence from Nigeria”. Global Journal of Humanities. Vol. 7, No. 1 & 2. Pp. 71 – 83.
Balogun, E. D. (2007), "Effects of Exchange Rate Policy on Bilateral Exports Trade of WAMZ Countries", Munich Personal RePec Archive (MPRA) Paper No. 6234.
Bordo, D. Michael (2003).“Exchange Rate Regime Choice in Historical Perspective” NBER Working Paper 9654
IMF (2011), Balance of Payments and International Investment Position Manual, Sixth Edition, Washington DC, USA.
Mordi, N. O. (2006), "Challenges of Exchange Rate Volatility in Economic Management in Nigeria", In The Dynamics of Exchange Rate in Nigeria, Central Bank of Nigeria Bullion, 30(3,): 17-25.
Obadan, M. I. (2006), "Overview of Exchange Rate Management in Nigeria from 1986 to Date", In the Dynamics of Exchange Rate in Nigeria”, Central Bank of Nigeria Bullion, 30(3): 1-9.
Obaseki P. J. (2001), “Issues in Exchange Rate design and Management” Central Bank Economic and Financial Review Vol.39 No.2
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Adu, Cecilia Adurayemi
This work is licensed under a Creative Commons Attribution 4.0 International License.
