LEANING AGAINST THE WIND OF EXCHANGE RATE

 LEANING AGAINST THE WIND OF EXCHANGE RATE

The monetary policy on foreign currency exchange rate hasn't found a veritable platform to rest on, at the time the country is recession. The Nigerian monetarist hasn't found a lasting solution to the present situation rocking the giant economy, The central bank of Nigeria, with their concessional policy are holding the economy back.

Leaning against the wind, means the central bank should intervene and reduce the short-term fluctuation in exchange rate, and leave the long-term exchange rate fluctuation to be adjusted by the market force. with this type of exchange rate wind Nigeria can never go out of recession.

Pumping out a enough dollar at the expenses of the masses to BDCs is good step so to say, some people find it difficult to access dollar from the bank rather than the bureau de change. The influx of foreign currency in the circulation will reduce the level of hardship among the poor masses.