Sunday, October 9, 2016

Will Import Be Cheaper if Naira Appreciate Next Week As Expected

The Naira is expected to appreciate next week as Bureaux De Change Operators confirm increase dollar supply. My question is will Import Be Cheaper if Naira Appreciate Next Week As Expected?

Nigerian consumers use to enjoy the fact that a dollar usually can buy a reasonable product online before, but since the raise of dollar against Naira, foreign import of goods to Nigeria is of low quantity in the sense that what you can actually buy with 2000 Naira will cost 5000 Naira now.

The Naira was quoted at 470 to the dollar on the black market on Friday compared to 473 on Thursday. If Naira actually raise against dollar as expected next week I believe import will be cheaper and quantity of import will increase.

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