FLUCTUATIONS OF EXCHANGE RATES AND LIVING STANDARD IN NIGERIA

FLUCTUATIONS OF EXCHANGE RATES AND LIVING STANDARD IN NIGERIA

Registration ID: IJNRD_210849

Published ID: IJNRD2312323

DOI: Click Here to Get

UKANGWA , ONYENZE

FLUCTUATIONS, EXCHANGE RATE, INFLATION RATE, INTEREST RATE, GDPPC, STATIONARITY, UNEMPLOYMENT, STANDARD OF LIVING

The study looked at how Nigeria's standard of life was affected by changes in currency rates. The explanatory variables included exchange rate (EXCR), inflation (INF), interest rate (INTR), and money supply; secondary data covering the years 1990–2021 was used. The variables measuring standard of living were gross domestic product per capita (GDPPC), per capital income, and unemployment proxied standard of living. The stationarity of the variables was determined using unit root tests, and the parameters were estimated using Autoregressive Distributed Lag (ARDL) as they were integrated in the sequence of 1 and 0. The results show that there is a substantial long- and short-term association between Nigeria's GDP per capita, per capita income, and unemployment rate and fluctuations in exchange rates. This implies that changes in the currency rate have a significant impact on the level of life in Nigeria. Because the productive sector is the main driver of the economy and provides the essential commodities needed to produce goods and services, the study advised, among other things, that the government should enhance this sector in order to lower unemployment and raise living standards. They ought to make an effort to implement constructive economic changes designed to improve economic performance and lessen the negative effects of exchange rate swings regarding the living standards in Nigeria.

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"FLUCTUATIONS OF EXCHANGE RATES AND LIVING STANDARD IN NIGERIA", IJNRD - INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT (www.IJNRD.org), ISSN:2456-4184, Vol.8, Issue 12, page no.d198-d218, December-2023, Available :https://ijnrd.org/papers/IJNRD2312323.pdf

Volume 8 Issue 12, December-2023

Pages : d198-d218

Paper Reg. ID: IJNRD_210849

Published Paper Id: IJNRD2312323

Downloads: 000121210

Research Area: Engineering

Country: -, -, India

Published Paper PDF: https://ijnrd.org/papers/IJNRD2312323.pdf

Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2312323

Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

ISSN: 2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar | ESTD YEAR: 2016

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