Devaluation: Meaning and Implications.
Devaluation refers to the reduction in the official value of a currency in relation to other currencies. Nigerian Naira relative to US Dollar is currently $1=N416.21 (Official rate) Nigerian Naira relative to US Dollar is currently $1= N570 (Parallel market) What a huge gap between both markets! This is a major rationale for arbitrage (purchase […]
Devaluation: Meaning and Implications. Read More »
