THE EFFECT OF FLUCTUATING FOREIGN EXCHANGE RATE ON NIGERIA CURRENCY.(A CASE STUDY OF CENTRAL BANK OF NIGERIA, ENUGU BRANCH)

ABSTRACT

The currency of a nation is made to appreciate.

Is this appreciation made at the expense of the foreign market determinant? Or is it as a result of the country’s effort?

          It is the aim of this research work to find out if Nigeria apply foreign exchange rate controls, is naira appreciation what we attain to achieve.  This research work has five chapters.

          Chapter one contains a general discussion of the foreign exchange rate fluction as seen by different people.  It went further to state the problem to be studied and why this study was carried out, the scope and limitation of the study and finally the propositions and the definition of terms.

          A number of past related literature examined by other studies as it relates to the fluctuation of exchange rate on naira, are highlighted in chapter two.

          Chapter three deals with the design of the study, the methods used in collecting relevant data.  It also deals with ways the questionnaires were carried out and treatment of data.

          The data gotten from the research survey were presented and analyzed in chapter four.

          Finally, the summary of findings, conclusion on the research and recommendations made by the researcher are all in chapter five.

          If the Nigeria would put the recommendations made in the study to use, there will be currency steady appreciation with controls applied.  Then, the negative effect on our currency by the fluctuating foreign exchange rate will become a thing of the past.