This is in regards to Nigeria’s currency (Naira) weakening and causing the ‘dollar shortage’ in the country to deepen.
In: Economics
If people in a country don’t trust their native currency to hold value, they try to get currency that does hold value. The USD for better or worse is a sort of a global trade standard currency, so it is often desired. However, the Nigerian government can’t print USD, so only USD coming into the country via some other means can be circulated. It is possible to have more demand for the dollar than supply.
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