What Will Happen If The Naira Is Devalued? By A Curious Nigerian - Business - Nairaland
Nairaland Forum / Nairaland / General / Business / What Will Happen If The Naira Is Devalued? By A Curious Nigerian (720 Views)
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| What Will Happen If The Naira Is Devalued? By A Curious Nigerian by spartacusdove(m): 7:29pm On Feb 23, 2016 |
I need the help of well versed nairalanders in the aspect of economics as I am not a fan of economics. With the current state of naira ( fallen to its nadir in the international market) at the moment, what will happen if the Nigerian govt now decide to devalue the naira? are we looking at a scenario where 1 dollar = 1000 naira( or more). What will devaluing the naira actually mean to the economy? |
| Re: What Will Happen If The Naira Is Devalued? By A Curious Nigerian by Elosky20: 7:32pm On Feb 23, 2016 |
a spartacusdove:" Devaluation" means official lowering of the value of a country's currency within a fixed exchange rate system, by which the monetary authority formally sets a new fixed rate with respect to a foreign reference currency. |
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