₦airaland Forum

Please I am about embarking on an academic project to try and predict the exchange rate of the Naira against the Dollar on the parallel and black market. I want someone to kindly explain to me what exactly determines the official exchange rate, the exchange rate on the parallel market and the exchange rate on the black market. I know it has to do with imports, exports and demand for the dollar but Economics is not my major, I am in the physical sciences and my knowledge of this is pretty vague. If possible, you can give me real world examples of how the exchange rates were determined in June 2015 and January 2016. Please I won’t mind if you direct me to literature that may explain to me in more detail, not something too technical. Also, if possible also include where I can get accurate data to embark on this.

cc @Jarus

MonsieurCoder:
Please I am about embarking on an academic project to try and predict the exchange rate of the Naira against the Dollar on the parallel and black market. I want someone to kindly explain to me what exactly determines the official exchange rate, the exchange rate on the parallel market and the exchange rate on the black market. I know it has to do with imports, exports and demand for the dollar but Economics is not my major, I am in the physical sciences and my knowledge of this is pretty vague. If possible, you can give me real world examples of how the exchange rates were determined in June 2015 and January 2016. Please I won’t mind if you direct me to literature that may explain to me in more detail, not something too technical. Also, if possible also include where I can get accurate data to embark on this.

cc @Jarus

Google will simply answer your question without typing all this epistle.

adekennis:
Google will simply answer your question without typing all this epistle.

This was not very helpful.