EFFECT OF UNSTABLE RATE OF EXCHANGE ON PERFORMANCE OF QUOTED MANUFACTURING COMPANIES IN NIGERIA
Authors:
Adekola, Omotayo Ajibike & Olayinka, Segun Wale
Abstract:
The study examined the Impact of Fluctuating Exchange Rate on Manufacturing Performance in Nigeria. Various literature relevant to the study were examined in other to gain insights into the present situation of the study. The study, therefore, consolidated the gap in the literature to form the basis of research. Relevant data were gathered from the Central Bank of Nigeria Statistical Bulletin for the periods of 2010-2016 and analysed to determine how exchange rate fluctuation affects manufacturing performance. A dummy variable was used to explain the appreciation and depreciation of exchange rate over the periods of research and from the empirical result, it can be inferred that there is a considerable relationship between exchange rate and manufacturing performance. On the basis of the result of findings, it can be concluded that an effective exchange rate has a statistical significance on manufacturing performance in Nigeria.