The study looked at how different exchange rate systems affect Nigeria's economy. By analyzing data from 1970 to 2020, the researchers found that exchange rate movements can impact inflation rates. They also discovered that certain exchange rate systems can lead to trade surpluses or deficits. Interestingly, the type of exchange rate movement (depreciation or appreciation) matters for trade balance. Overall, the study suggests that an intermediate exchange rate system based on depreciation is best for promoting trade surpluses in Nigeria.