Could it be as a result of importation of foreign goods or lack of local made goods by government of my country?
It's not just goods, Nigeria has a positive trade balance, normally that would mean more foreign currency enters the economy than is needed to ay for imports. The thing is that not only commerce matters but there is also a multitude of other factors, there are plenty of countries with a negative trade balance that are not having a problem keeping their currency up.
But the simple explanation is that there is more demand for $ than there is offer, so much for the so-called dedollarisation everyone prays for.
Seems like everyone hates the $ so much they want all of them stuffed in their pockets.
We creates our local goods and send them to our wider local markets let the foreigners come down to buy from us so that our currency will appreciates in value and increase production
Yeah, that's the plan but doing it as you can see it's a lot harder than talking about it.
