ABSTRACT

This study investigates the statistical analysis of the effect of dollar to naira exchange rise on the economy of Nigeria. Based on the average yearly series for the period 2010 to 2022, we employed a multi-faceted approach, combining scatter plot analysis, correlation analysis and regression analysis to investigate the effects of changes in exchange rates on Nigeria’s Economy through GDP. Using this analysis, we found a strong correlation between the exchange rate and GDP. The results show that a rise in the exchange rate is associated with a rise in the GDP. The findings suggest that the appreciation of dollar against the naira has had a positive impact on Nigeria’s economy, and highlight the importance of exchange rate management in promoting economic growth. The study’s results have implications for monetary policy and exchange rate management in Nigeria, contribute to the existing body of literature on the impact of exchange rate fluctuations on economic growth.