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We Compared Nigerian Naira To Other African Currencies, The Result Is Shocking - Business - Nairaland

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We Compared Nigerian Naira To Other African Currencies, The Result Is Shocking by emmatuxz(m): 5:19pm On Oct 12, 2017
I felt only a few African countries could have stronger currencies than the naira but I was shocked and ashamed with what I found out.

Different denominations of the naira  (Naij.)
I wanted to do an online transaction with an online fashion brand abroad. Of course, I always make sure I check the exchange rate before I place an order, to know how much I would be spending in naira.
As usual, after calculating the exchange rate, what I wanted to get was on the high side. I just became humble and cancelled the transaction.

I started thinking if the disparity between dollar and naira is so insane, what will be the exchange rate of the naira to the currencies of other African countries. I picked 25 random African countries and compared their currencies with the naira.

Before I started my findings, I felt only a few African countries could have stronger currencies than the naira but boy I was shocked and ashamed with what I came up with.

Check out the latest exchange rate of the Nigerian naira compared to some random African countries' currencies.

1. South Africa - 1 Rand = 26.28 Naira

2. Ethiopia - 1 Birr = 13.30 Naira

3. Ghana - 1 Cedi = 81.96 Naira

4. Gambia - 1 Dalasi = 7.60 Naira

5. Kenya - 1 Shilling = 3.48 Naira

6. Liberia - 1 Dinar = 3.05 Naira

7. Swaziland - 1 Lilangeni = 26.55 Naira

8. Tunisia - 1 Dinar = 145.90 Naira

9. Zambia - 1 kwacha = 36.7 Naira

10. Angola - 1 kwanza = 2.17 Naira

11. Lesotho - 1 Loti = 26.55 Naira

12. Libya - 1 Dinar = 262.77 Naira

13. Morrocco - 1 Dirham = 38.32 Naira

14. Madagascar - 1 Ariary = 0.12 Naira

15. Mauritius - 1 Rupee = 10.5 Naira

16. Malawi - 1 kwacha = 0.50 Naira

17. Mozambique - 1 Metical = 5.8 Naira

18. Namibia - 1 Dollar = 26.55 Naira

19. Seychelles - 1 Rupee = 26.38 Naira

20. Sudan - 1 pound = 53.89 Naira

21. Botswana - 1 Pula = 34.60 Naira

22. Cape Verde - 1 Escudo = 3.82 Naira

23. Algeria - 1 Dinar =  3.18 Naira

24. Egypt - 1 Pound =  20.45 Naira

25. Eritrea - 1 Nakata =  23.52 Naira

The currencies of some worse economies in Africa have better value than the naira.

So the question is - Do you think Nigeria's naira is the weakest currency in Africa and the world at large and what is the way forward to strengthen the naira.
Re: We Compared Nigerian Naira To Other African Currencies, The Result Is Shocking by jessejunior(m): 5:23pm On Oct 12, 2017
The giant of Africa we are claiming is only by population, the remaining na publicity stunt

1 Like

Re: We Compared Nigerian Naira To Other African Currencies, The Result Is Shocking by GavelSlam: 5:26pm On Oct 12, 2017
The figure used in purchasing a currency has no relevance to its strength.

What matters truly is how much effort is required to make the equivalent across board.

Also, take a look at this :

1 Ghanaian Cedi = 25.54 Japanese Yen.

The yen must really be a terrible currency in that case.

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Re: We Compared Nigerian Naira To Other African Currencies, The Result Is Shocking by Nobody: 5:26pm On Oct 12, 2017
jessejunior:
The giant of Africa we are claiming is only by population, the remaining na publicity stunt
Re: We Compared Nigerian Naira To Other African Currencies, The Result Is Shocking by agarawu23(m): 5:32pm On Oct 12, 2017
GavelSlam:
The figure used in purchasing a currency has no relevance to its strength.

What matters truly is how much effort is required to make the equivalent across board.

Also, take a look at this :

1 Ghanaian Cedi = 25.54 Japanese Yen.

The yen must really be a terrible currency in that case.
Re: We Compared Nigerian Naira To Other African Currencies, The Result Is Shocking by MrSea(m): 5:36pm On Oct 12, 2017
Shame to Naira....
1 Biafra pound = 1225.81 Naira [b][/b][color=#550000][/color]

1 Like

Re: We Compared Nigerian Naira To Other African Currencies, The Result Is Shocking by hoesaintloyal(m): 6:18pm On Oct 12, 2017
lalasticlala
Re: We Compared Nigerian Naira To Other African Currencies, The Result Is Shocking by Nobody: 9:10pm On Oct 12, 2017
if you take a good look at most of the countries listed above. you will notice that they are tourist haven to the Westerners. it used to be like that in Nigeria too back in the late 60's. then our currency was stable and valuable even in Europe and other parts of the world, until we (our leaders ) started their I too sabi mentality.
Re: We Compared Nigerian Naira To Other African Currencies, The Result Is Shocking by Nobody: 9:11pm On Oct 12, 2017
if you take a good look at most of the countries listed above. you will notice that they are tourist haven to the Westerners. it used to be like that in Nigeria too back in the late 60's. then our currency was stable and valuable even in Europe and other parts of the world, until we (our leaders ) started their I too sabi mentality. u can never know more than your teacher, or else he fails you.
Re: We Compared Nigerian Naira To Other African Currencies, The Result Is Shocking by emmatuxz(m): 11:03pm On Oct 12, 2017
It is well
Re: We Compared Nigerian Naira To Other African Currencies, The Result Is Shocking by Mynd44: 7:06am On Oct 13, 2017
Nonsense comparism
Re: We Compared Nigerian Naira To Other African Currencies, The Result Is Shocking by SokoDobo: 8:14am On Oct 13, 2017
hmm
Re: We Compared Nigerian Naira To Other African Currencies, The Result Is Shocking by emmatuxz(m): 10:29am On Oct 13, 2017
.
Re: We Compared Nigerian Naira To Other African Currencies, The Result Is Shocking by IVORY2009(m): 10:57am On Oct 13, 2017
Mynd44:
Nonsense comparism

How sir? shocked

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