The considerable depreciation of the Nigerian naira is intricately tied to a series of global economic shocks, most notably the reverberations of the COVID-19 pandemic in 2020 and the geopolitical tensions arising from the Russia-Ukraine war in 2022. These external forces set off a chain reaction, leading to unfavorable consequences such as heightened inflation, increased interest rates, and escalated costs of imports. Adding to the complexity, stringent domestic foreign exchange (FX) policies, characterized by import restrictions, compounded by limited dollar inflows in Nigeria, have......

https://ratecaptain.com/nigeria-fx-saga-nagviating-naira-valuation-paradox/