alexa Efficiency of Foreign Exchange Markets: The Case of Nigeria

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Efficiency of Foreign Exchange Markets: The Case of Nigeria

The history of the foreign exchange market dating back to the biblical times, it was only in the 1800s that the development of a formal foreign exchange market came into existence. The obligation for a foreign exchange market mainly evolved due to the need for countries to trade between themselves. Since the espousal of formal foreign exchange markets, nations have attempted to set low exchange rates in comparison to other nations’ with an aim to attain a favourable trade position.

 
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