An Analysis On The Persistent Depreciation Of The Naira In The Foreign Exchange Markets Causes, Effects And Solutions

NTRODUCTION1.1 BACKGROUND OF THE STUDY          Foreign exchange is the means of payment for international transactions and it is made up of convertible currencies that are generally acceptable for the settlement of international trade and other external obugations.        The foreign exchange market is an arrangement or medium of interaction between the sellers and buyers of foreign exchange in a bid to negotiate a mutually acceptable price for the settlement of international transactions (ile 1999: 325) Afolabi (1999) defined exchange ra…