'The so-called currency swap is not significant enough to move the needle as far as our trade relationship with China is concerned,' Muda Yusuf said. exchangerate nairadepreciation
Nigerian economic experts have said the country’s five-year-old currency swap agreement with China has not eased the pressure against the Nigerian currency. According to one expert, implementation of the swap arrangement is being held back by the size of the trade imbalance between Nigeria and ChinaAccording to experts on the Nigerian economy, the country’s five-year-old currency swap agreement with China has failed to ease the pressure on the naira.
Reports of the currency swap arrangement’s failures came at a time when several countries have or are seeking to establish similar arrangements with China.
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