have. Nigeria is highly dependent on imports, with everything from the petrol in pumps to the rice in supermarkets coming from abroad. Australian Dollar, bitcoin, brazilian Real, british Pound, bulgarian Lev. other effects of a rising dollar and falling Naira is on Nigerian stock markets, SMEs collapsing on the long run etc. If investors could be sure of the nairas stability, they might start bringing in the dollars the country so sorely needs. Higher importation and lower exportation is not good for any economy, Nigeria included.
The supply of dollars began drying up when the price of oil, Nigeria s main export, collapsed in 2014. More than three decades later forex dissertation topics Mr Buhari is back in office, elected this time, and the issue of who gets access to foreign currency, and what they can do with it, remains as contentious as ever. You can check the CBN exchange rates in Nigeria today as it stands at the moment. The Nigerian central bank has imposed new foreign exchange controls to try to stem the flow of dollars out of the country. New Zealand Dollar, norwegian Krone, pakistan Rupee, philippine Peso.