One of the effects of the devaluation of the Naira is that the

Assessment: JAMB UTME - Commerce - 1994 Subject: Commerce

Question 1 Report

One of the effects of the devaluation of the Naira is that the
Answer Details
When the Naira is devalued, it means that the value of the Nigerian currency has decreased relative to other currencies. This means that if you were to exchange one Naira for another currency, you would get less of that currency than you would have gotten before the devaluation. As a result, imports that can be bought with the Naira become costlier, because you need to spend more Naira to purchase the same amount of foreign goods. Therefore, the correct option is: "imports that can be bought with the naira have become costlier".
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