THE IMPACT OF EXCHANGE RATE FLUCTUATIONS IN THE NIGERIAN ECONOMY
Abstract
Abstract
This research work examined the relationship between exchange rate fluctuation and economic growth in Nigeria. The specific objectives of the study were to determine the relationship between exchange rate and Gross domestic product as well as to determine the relationship between exchange rate and per capita income. The study adopted historical data design from 1999 to 2021. Two hypotheses were formulated and tested using multiple regression analyses with the help of ordinary least square and the findings revealed that exchange rate fluctuation has a positive and significant relationship with economic growth of Nigeria. It was therefore recommended that, the government should encourage local industries to produce goods for massive exportation since most foreign countries will find it cheaper to buy from Nigeria owing to the fact that the Naira is devalued given the exchange rate.
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