Economists care much about the health and how nation’s manage five mechanisms around their currency stability; that is, devaluation,revaluation,depreciation, appreciation and redenomination. For instance, a decrease in a currency’s value relative to other major currency benchmark’s is called depreciation (this happened through floating exchange transaction or market forces); likewise, an increase in the currency’s value is called appreciation. On the other hand, altering the face value of a currency without reducing its exchange rate is redenomination. Meanwhile,revaluation is the opposite of devaluation, that is a change in the exchange rate…
In Defence of the Naira as CBN fight back By Adefolarin A Olamilekan
