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Shocking Revelation Of The Naira Among Other African Currency - Politics (2) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Shocking Revelation Of The Naira Among Other African Currency (3319 Views)

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Re: Shocking Revelation Of The Naira Among Other African Currency by pedrilo: 6:45pm On Oct 15, 2017
Who amongst the economists here can explain who is responsible for fixing exchange rates world wide and the criteria
Re: Shocking Revelation Of The Naira Among Other African Currency by olawalepopoola: 8:06pm On Oct 15, 2017
It is currently happening to me in China. There are some things we get in Nigeria that are very cheap but costly here when converted to Nigerian naira.
Example: telecommunications SIM card in Nigeria is almost free but you need RMB 180 to get one in China. At the rate of N50 to 1RMB a SIM card in China is N9000. What a price.
Agbaletu:
It does not work that way. Most of the currencies above cannot be exchanged with Naira directly, it is either you buy Dollar, Euro or Pound Sterling and take them to these countries to get the local currencies.
You will discover that Naira is more valuable than most of them when you want to buy anything in the countries you mentioned.

Re: Shocking Revelation Of The Naira Among Other African Currency by cutieme(m): 10:17pm On Oct 15, 2017
olawalepopoola:
It is currently happening to me in China. There are some things we get in Nigeria that are very cheap but costly here when converted to Nigerian naira.
Example: telecommunications SIM card in Nigeria is almost free but you need RMB 180 to get one in China. At the rate of N50 to 1RMB a SIM card in China is N9000. What a price.
Is china currency higher than naira?Na waooo,naira why u dey fall my hand now

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