THE EFFECT OF FLUCTUATING FOREIGN EXCHANGE RATE ON NIGERIA CURRENCY.
(A CASE STUDY OF CENTRAL BANK OF NIGERIA, ENUGU BRANCH)
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COMPLETE MATERIAL COST N2,500 Or $10. FRESH PROJECT MATERIAL COST 50,000 NAIRA FOR UNDERGRADUATE, OTHERS 100,000 -200,000 NAIRA.
THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE
Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
Account Number: 0117780667.
Swift Code: GTBINGLA
Dollar conversion rate for Naira is 175 per dollar.
ATM CARD: YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANK SECURITY FOR GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY.
OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.
form>DELIVERY PERIOD FOR BANK PAYMENT IS LESS THAN 24 HOURS
CALL OUR CUSTOMERS CARE OKEKE CHIDI C ON : 08074466939,08063386834.
AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO
08074466939 or 08063386834, YOUR PROJECT TITLE YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.
WE HAVE SECURITY IN OUR BUSINESS.
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.
TABLE OF CONTENT
3.0 RESEARCH METHODOLOGY
QUESTIONNAIRES
5.0 SUMMARY, RECOMMENTIONS CONCLUSION
BIBLIOGRAPHY
APPENDIX
CHAPTER ONE
1.1 BACKGROUND OF THE STUDY
The inter-bank market in foreign exchange is used for trading in foreign currencies – main vehicle for generating autonomous inflow of foreign exchange into the banking system. La licensed banks, development banks and the central bank are active traders the market. These banks intermediate for their corporate and individual customers that engage in international trade and investment. The are always prepared to buy form or sell foreign currencies to their customers in both the spot and forward markets. In addition, authorized dealers open and maintain foreign currency domiciliary accounts for their customers, especially the exporting customers.
Exchange rates ruling in the inter-bank market fluctuate in response to the forces of supply and demand for foreign currencies, subject to a maximum spread of one percent between the buying and selling rates. Al the authorized dealer banks are required by CBN to display their buying and selling rates for spot transactions, but are allowed to negotiate with customers in respect of forward transactions within the one per cent allowable spread or margin. Authorized dealers are expected to make delivery of transactions of foreign currency to customers within three days from the day payment is made. The overall supervision of the market falls to the Central Bank of Nigeria which may, with the approval of the minister of Finance, intervene in the market from time to time to prescribe guidelines and give new directives. The Central Bank of Nigeria intervenes at a biding session in order to minimize any large fluctuations in the niara exchange rates.
For example, in 1986, the Central Bank of Nigeria intervened at the 6th session and at the 12th session.
In practice, the usual sources of foreign exchange to the market include the Central Bank of Nigeria auction, inflow to banks through autonomous sources, non-oil exports via dormiciliary foreign currency accounts, invisible trade items and other miscellaneous sources. For example in December 1986, the value of foreign exchange flowing in form these sources were: CBN auction $237.99 million, banks $28.99 and other miscellaneous sources $48.98million.
It is interesting to note that the introduction of the Second-tier Foreign Exchange Market (SFEM) in September 1986, coupled with the dismantling of exchange controls have increased the inflow of foreign exchange from autonomous sources. For exchange, the inflow of foreign exchange from private sources between October 1986 and May 1987 was put at $706 million (or about N2.6 billion).
1.2 STATEMENT OF THE PROBLEM
Apart from the purely technical question of ensuring the steady appreciation of naira, one of the primary functions of determinants of exchange rate (CBN) is to sustain the value of the naira during fluctuation.
There are, however, other major problems falling our currency and it’s management.
The persistent geometric progression in depreciation and arithmetic progression in appreciation of naira have discouraged foreign investors due to they cannot make it. There appears to be no evidence more convincing about the need to central foreign exchange rate fluctuation, than the ever public outcry at the rate our money in falling and rising at the foreign market.
Many citiz
(A CASE STUDY OF CENTRAL BANK OF NIGERIA, ENUGU BRANCH)
Download our android mobile app for more materials
ORDER NOW
COMPLETE MATERIAL COST N2,500 Or $10. FRESH PROJECT MATERIAL COST 50,000 NAIRA FOR UNDERGRADUATE, OTHERS 100,000 -200,000 NAIRA.
THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE
MAKE YOUR PAYMENT INTO ANY OF THE FOLLOWING BANKS:
GTBANK
Account Name : Host Link Global Services Ltd
ACCOUNT NUMBER: 0138924237
Account Name : Host Link Global Services Ltd
ACCOUNT NUMBER: 0138924237
First Bank:
Account Name: Chi E-Concept Int’l
Account Name: 3059320631
Account Name: Chi E-Concept Int’l
Account Name: 3059320631
Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
Account Number: 0117780667.
Swift Code: GTBINGLA
Dollar conversion rate for Naira is 175 per dollar.
ATM CARD: YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANK SECURITY FOR GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY.
OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.
form>DELIVERY PERIOD FOR BANK PAYMENT IS LESS THAN 24 HOURS
CALL OUR CUSTOMERS CARE OKEKE CHIDI C ON : 08074466939,08063386834.
AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO
08074466939 or 08063386834, YOUR PROJECT TITLE YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.
WE HAVE SECURITY IN OUR BUSINESS.
MONEY BACK GUARANTEE
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.
TABLE OF CONTENT
CHAPTER ONE
1.0 INTRODUCTION`
- BACKGROUND OF THE STUDY
- STATEMENT OF PROBLEM
- NEED FOR THE STUDY
- PURPOSE FO STUDY
- SCOPE AND LIMITATION OF THE STUDY
- RESEARCH PROBLME
- DEFINITION OF TERMS
CHAPTER TWO
- REVIEW OF RELATED LITERATURE
- AN OVERVIEW OF THE EFFECT OF FOREIGN EXCHANGE RATE FLUCTUATION ON NAIRA
- CONTROL MEASURES
CHAPTER THREE
3.0 RESEARCH METHODOLOGY
- DESIGN OF THE STUDY
- SELECTION OF DATA
- COLLECTION OF DATA
- DESIGN AND ADMINSTRATION OF
QUESTIONNAIRES
- SAMPLE SIZE DETERMINATION
- SAMPLING TECHNIQUE
- DATA ANALYSIS
CHAPTER FOUR
- DATA PRESENTATION,ANALYSIS AND
- INTERPRETATION
CHAPTER FIVE
5.0 SUMMARY, RECOMMENTIONS CONCLUSION
- SUMMARY
- RECOMMENDATION
- CONCLUSION
BIBLIOGRAPHY
APPENDIX
CHAPTER ONE
- INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The inter-bank market in foreign exchange is used for trading in foreign currencies – main vehicle for generating autonomous inflow of foreign exchange into the banking system. La licensed banks, development banks and the central bank are active traders the market. These banks intermediate for their corporate and individual customers that engage in international trade and investment. The are always prepared to buy form or sell foreign currencies to their customers in both the spot and forward markets. In addition, authorized dealers open and maintain foreign currency domiciliary accounts for their customers, especially the exporting customers.
Exchange rates ruling in the inter-bank market fluctuate in response to the forces of supply and demand for foreign currencies, subject to a maximum spread of one percent between the buying and selling rates. Al the authorized dealer banks are required by CBN to display their buying and selling rates for spot transactions, but are allowed to negotiate with customers in respect of forward transactions within the one per cent allowable spread or margin. Authorized dealers are expected to make delivery of transactions of foreign currency to customers within three days from the day payment is made. The overall supervision of the market falls to the Central Bank of Nigeria which may, with the approval of the minister of Finance, intervene in the market from time to time to prescribe guidelines and give new directives. The Central Bank of Nigeria intervenes at a biding session in order to minimize any large fluctuations in the niara exchange rates.
For example, in 1986, the Central Bank of Nigeria intervened at the 6th session and at the 12th session.
In practice, the usual sources of foreign exchange to the market include the Central Bank of Nigeria auction, inflow to banks through autonomous sources, non-oil exports via dormiciliary foreign currency accounts, invisible trade items and other miscellaneous sources. For example in December 1986, the value of foreign exchange flowing in form these sources were: CBN auction $237.99 million, banks $28.99 and other miscellaneous sources $48.98million.
It is interesting to note that the introduction of the Second-tier Foreign Exchange Market (SFEM) in September 1986, coupled with the dismantling of exchange controls have increased the inflow of foreign exchange from autonomous sources. For exchange, the inflow of foreign exchange from private sources between October 1986 and May 1987 was put at $706 million (or about N2.6 billion).
1.2 STATEMENT OF THE PROBLEM
Apart from the purely technical question of ensuring the steady appreciation of naira, one of the primary functions of determinants of exchange rate (CBN) is to sustain the value of the naira during fluctuation.
There are, however, other major problems falling our currency and it’s management.
The persistent geometric progression in depreciation and arithmetic progression in appreciation of naira have discouraged foreign investors due to they cannot make it. There appears to be no evidence more convincing about the need to central foreign exchange rate fluctuation, than the ever public outcry at the rate our money in falling and rising at the foreign market.
Many citiz
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