The Nigerian naira is undervalued against the US Dollar by a staggering 40.68 percent, according to a report by the Financial Derivatives Company (FDC).
This conclusion stems from a detailed analysis using purchasing power parity (PPP) as a basis for comparison.
To fully appreciate this claim, let us delve into the insights provided by Michael Todaro and Stephen Smith, two renowned development economists. In their work, they define PPP as "the number of units of a foreign country’s currency requi
To read more, subscribe here.
