Impact of Currency Fluctuations on International Business and Cost Effectiveness in Nigeria

Authors

  • Oyegun Gbenga Wellspring University, Benin City, Edo State, Nigeria
  • Francis Ejime Wellspring University, Benin City, Edo State, Nigeria

Keywords:

Currency, Fluctuations, International Business, Cost Effectiveness

Abstract

The study looked at how currency fluctuations affected cost-effectiveness and global trade. The study's goal was to investigate how exchange rate fluctuations affected Nigeria's multinational enterprises' financial performance. The transaction cost theory is the foundation of this study. The use of secondary data sources was investigated while presenting the situation's facts. The secondary data were gathered from pertinent literature, the Statistical Bulletin of the Central Bank of Nigeria, and the annual reports of particular international corporations operating in Nigeria. The Ordinary Least Square Linear Regression model was used to test the data. The results demonstrate that the performance of multinational corporations in Nigeria is significantly impacted by exchange rate fluctuations. The study came to the conclusion that fluctuating exchange rates have an impact on how businesses in Nigeria conduct their business with other nations around the world. It was advised that multinational corporations create a solid framework for managing foreign exchange risk that would make explicit how they assess currency risk and implement their foreign exchange risk management plan. These tactics should be regularly monitored and modified.

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Published

2023-08-25

How to Cite

Gbenga, O. ., & Ejime, F. . (2023). Impact of Currency Fluctuations on International Business and Cost Effectiveness in Nigeria. Journal of Marketing and Emerging Economics, 3(8), 41–49. Retrieved from https://oajournals.net/index.php/jmee/article/view/2249

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