This Project shows the fluctuation in the exchange rate between the US Dollar (USD) and Nigerian Naira (N).
TOOL USED: EXCEL
DATA SOURCED From Naira_Rates
Over the month of January, there was a consistent rise in the value of the USD against Naira.
As of 31st January 2024, the exchange rate was 1 USD to N1,520. However, there has been a recent decrease in the USD rate, with the current exchange rate standing at 1 USD to N1,433.24.
Understanding the reasons behind these fluctuations would require an in-depth analysis of the economic and political situation in Nigeria and its interactions with the global economy.
To get the Percentage change = (End Rate - Start Rate)/Start Rate * 100
In January 2024, there was a 26.36% increase in Exchange rate.
This increase in the exchange rate is alarming & affecting the overall economy.
We hope for a change and a continued decrease in the USD Rate.