Slowaxie
A naira to a rand is 23naira

However, a naira to a dollar is above 300..

Did you knw why a Rand to a naira is low? because we dnt demand for it!

Did u knw why a Rand to a dollar is low? because they dnt demand for it that much...


What sane country spends dollar as if it's her currency?

dont8:
South Africa’s economy regained the position of Africa’s largest in dollar terms more than two years after losing it to Nigeria as the value of the nations’ currencies moved in opposite directions.

Based on gross domestic product at the end of 2015 published by the International Monetary Fund, the size of South Africa’s economy is $301 billion at the rand’s current exchange rate, while Nigeria’s GDP is $296 billion. That’s after the rand gained more than 16 percent against the dollar since the start of 2016, and Nigeria’s naira lost more than a third of its value after the central bank bank removed a currency peg in June.


[img]http://assets.bwbx.io/business/public/images/favicons/apple-touch-icon-57x57-b572ef8093.png[/img]
[img]http://imp.admarketplace.net/imp?type=adtag&tid=&err=no_prop.bloomberg.com&rid=&tracer_id=&sub2=&v=2.27&rnd=588689361289466839[/img]



Both nations face the risk of a recession after contracting in the first quarter of the year. The Nigerian economy shrank by 0.4 percent in the three months through March from a year earlier amid low oil prices and output and shortage of foreign currency. That curbed imports, including fuel. In South Africa, GDP contracted by 0.2 percent from a year earlier as farming and mining output declined.

“More than the growth outlook, in the short term the ranking of these economies is likely to be determined by exchange rate movements,” Alan Cameron, an economist at Exotix Partners LLP, said in e-mailed responses to questions on Aug. 2. Although Nigeria is unlikely to be unseated as Africa’s largest economy in the long run, “the momentum that took it there in the first place is now long gone.”


Both nations face the risk of a recession after contracting in the first quarter of the year. The Nigerian economy shrank by 0.4 percent in the three months through March from a year earlier amid low oil prices and output and shortage of foreign currency. That curbed imports, including fuel. In South Africa, GDP contracted by 0.2 percent from a year earlier as farming and mining output declined.

“More than the growth outlook, in the short term the ranking of these economies is likely to be determined by exchange rate movements,” Alan Cameron, an economist at Exotix Partners LLP, said in e-mailed responses to questions on Aug. 2. Although Nigeria is unlikely to be unseated as Africa’s largest economy in the long run, “the momentum that took it there in the first place is now long gone.”


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The South African rand rallied as investors turned to emerging markets with liquid capital markets to seek returns after Britain voted to leave the European Union on June 23, even as the central bank forecast the economy won’t expand this year and the nation risks losing its investment-grade credit rating. The ruling African National Congress’s lowest support since 1994 in the Aug. 3 local government vote led to further gains on speculation that it will pressure the party to introduce economic reforms that will boost growth and cut unemployment.

In Nigeria, investors didn’t flock to buy naira-based assets after authorities removed the peg of 197-199 naira per dollar. The Central Bank of Nigeria raised its benchmark interest rate to a record in July to lure foreign money, even as the IMF forecast the economy will contract 1.8 percent this year.

Nigeria was assessed as the continent’s largest economy in April 2014 when authorities in the West African nation overhauled their GDP data for the first time in two decades. The recalculation saw the Nigerian economy in 2013 expand by three-quarters to an estimated 80 trillion naira.

The rand gained 1 percent to 13.2805 per dollar at 4:03 p.m. in Johannesburg on Wednesday. The naira weakened 2.7 percent to 320 per dollar.



http://www.bloomberg.com/news/articles/2016-08-10/south-africa-s-economy-regains-rank-as-africa-s-biggest-on-rand

Pavarottii:
Only a fool(zombie) won't av expected this news. Just that it came quite early.

All the gains of GEJ, going away under Cassandra in one year.

Oluwabusobomi:
Nothing good can come out of this skull

activeguy:
Hausa/Fulanis and yorubas are killing all of us softly in this country.
That combo is always a disaster for Nigeria right from independence.
By the time these folks finish with us heh.....



Pls do anyone know a drug one can take to sleep and wake up in 2019..??

activeguy:
Hausa/Fulanis and yorubas are killing all of us softly in this country.
That combo is always a disaster for Nigeria right from independence.
By the time these folks finish with us heh.....



Pls do anyone know a drug one can take to sleep and wake up in 2019..??