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Top Ten African Currencies Compared To US Dollar - Business (3) - Nairaland

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Re: Top Ten African Currencies Compared To US Dollar by FYsol: 11:24pm On May 11
It is redenomination, its not a big deal and its not a sign that an economy is doing well. It is $1 to 160 Japanese Yen.

2 Likes

Re: Top Ten African Currencies Compared To US Dollar by imaxx: 11:34pm On May 11
Zonefree:

What's Ghana doing here? undecided

About 5 pack of 80gram indomie noodles in Ghana is 55 Ghana Cedis, that's above $4.

While $4 in Nigeria can get you over 10 pack of same 80gram indomie noodles.


5,500 right now. I'm in ghana
Re: Top Ten African Currencies Compared To US Dollar by iLegendd(m): 11:37pm On May 11
Zonefree:

What's Ghana doing here? undecided

About 5 pack of 80gram indomie noodles in Ghana is 55 Ghana Cedis, that's above $4.

While $4 in Nigeria can get you over 10 pack of same 80gram indomie noodles.
Don't expose our Ghanian people nah. You too wicked.

2 Likes

Re: Top Ten African Currencies Compared To US Dollar by 360command: 11:37pm On May 11
Zambian currency was worse but was rebased

As of 2013, 1000 old zambian kwacha rebased to 1 new zambian kwacha.

1 Like

Re: Top Ten African Currencies Compared To US Dollar by iLegendd(m): 11:41pm On May 11
imaxx:



5,500 right now. I'm in ghana
5,500 for now many packs?
Re: Top Ten African Currencies Compared To US Dollar by Kukutente23: 12:12am On May 12
Throwback:


The Italian Lira was so low to the dollar when Naira was above the dollar.

Yet it did not mean because a N1 Pencil in Nigeria in the early 90s would cost about 300 Lire, that our economy was better than Italy that is a G8 member state.
You're right and also wrong. There's a lot if misinformation going on about currency value and its effect. The most important thing is currency stability. A stable currency has a more beneficial effect on the economy than an unstable one. The weakness of the so-called float is how it has rendered the naira volatile. It is what has led to speculation I'm the system. It is not only crypto traders that speculate. Even the average trader on the street is speculating in a bid to edge against loss.
Concerning the loss of value, you're right. But it's unfortunate that the issues that led to the loss of value are still with us and successive govts have done nothing to make a change in the fortune of our local currency. While the military boys took hard currencies and hid them in foreign countries, the politicians have not fared better. They have even gone as far as spending hard currency in Nigeria. All these battering is what has largely led to a comatose currency which has negatively affected our manufacturing capacity.

3 Likes

Re: Top Ten African Currencies Compared To US Dollar by Agapeunit(m): 12:20am On May 12
Beverlyjean:
Now,a war turn country has is just 4 to a dollar... they don't use the dollar , their citizens don't need or even take it seriously..... the only way we can get it right is to use force by making FX illegal on the streets .... it should only be electronically traded thru the banks ...all crypto should be banned ... anyone found trading crypto or dealing with FX should be arrested immediately... Nigerians that can afford it are buying it up and hoarding it like black market fuel sellers ...
Pls sis,i really want to understand it better how crypto trading n fx is affecting our currency. Pls i am a novice to all u said,pls help a novice with ur knowledge. Thank u
Re: Top Ten African Currencies Compared To US Dollar by babsthegreat: 12:32am On May 12
muyico:
Nigeria is number what?
not on the list
Re: Top Ten African Currencies Compared To US Dollar by Doyin2(m): 12:39am On May 12
angry
Beverlyjean:
Now,a war turn country has is just 4 to a dollar... they don't use the dollar , their citizens don't need or even take it seriously..... the only way we can get it right is to use force by making FX illegal on the streets .... it should only be electronically traded thru the banks ...all crypto should be banned ... anyone found trading crypto or dealing with FX should be arrested immediately... Nigerians that can afford it are buying it up and hoarding it like black market fuel sellers ...
Re: Top Ten African Currencies Compared To US Dollar by erico2k2(m): 12:41am On May 12
Zonefree:

What's Ghana doing here? undecided

About 5 pack of 80gram indomie noodles in Ghana is 55 Ghana Cedis, that's above $4.

While $4 in Nigeria can get you over 10 pack of same 80gram indomie noodles.
People seem to 4get Ghana rounded up their figures in thier currency, three zeros where removed, so 13 CD is actually 13000 CDs

4 Likes

Re: Top Ten African Currencies Compared To US Dollar by Originalsly: 12:58am On May 12
Zonefree:

What's Ghana doing here? undecided

About 5 pack of 80gram indomie noodles in Ghana is 55 Ghana Cedis, that's above $4.

While $4 in Nigeria can get you over 10 pack of same 80gram indomie noodles.


Ghana a is doing business. Didn't the FG say devaluing the will attract foreign investors? ... investors with stronger currencies? A can of Coke is US1 .... you should now apply the same reasoning to the US.

@ topic.... what number is Nigeria? I

1 Like 1 Share

Re: Top Ten African Currencies Compared To US Dollar by brainhgeek(m): 1:33am On May 12
Also post their minimum wages
Re: Top Ten African Currencies Compared To US Dollar by Chicagograduate(m): 1:45am On May 12
Their politicians don't travel alot like Nigeria.
Their children attend local education in their country.
Tell me why their currency will not be strong?
Re: Top Ten African Currencies Compared To US Dollar by BALLOSKI: 1:46am On May 12
CodeTemplar:
Currency conversion ratio is of little significance when you consider that currencies can be adjusted.

For example, the Kuwaiti Dinar (KWD) is the strongest currency in the world with a single Kuwaiti dinar buying $3.25 US dollars (or, put another way, one US dollar equals 0.31 Kuwaiti dinars) but can the Kuwaiti economy measure against USA or other advanced economies?
As a matter of fact, kuwaiti dinar was adjusted by taking away three zeros to make it the world's strongest. That's something anyone can do and become the worlds strongest currency but not necessarily the world strongest economy.

Money is a just a metric system that can change based on goods and service backing it or can be recalibrated to ease management of money system.
Ghana did too. If we get manufacturing right and export is in our advantage than import, then the currency would gain value.

1 Like

Re: Top Ten African Currencies Compared To US Dollar by ironkurtain(m): 2:40am On May 12
The South Korean Won is at ₩1,350. per dollar. But can any of the economy of the countries above be compared to Korea's economy? Hell, even Samsung group has more cash reserve than some of those countries foreign reserves.

4 Likes

Re: Top Ten African Currencies Compared To US Dollar by zelnababa(m): 3:24am On May 12
Zonefree:

What's Ghana doing here? undecided

About 5 pack of 80gram indomie noodles in Ghana is 55 Ghana Cedis, that's above $4.

While $4 in Nigeria can get you over 10 pack of same 80gram indomie noodles.
Ghanaian re just deceiving thier self by removing about six zeros from Thier currency.

1 Like

Re: Top Ten African Currencies Compared To US Dollar by Brown2012: 3:44am On May 12
Islie:


https://thenationonlineng.net/top-ten-african-currencies-compared-to-us-dollar/
Tinubu will handle the economy and shetima insecurity, nigga couldn't even drop a convincing manifesto. You are forcing the dollar to drop organically instead of growing the economy naturally and then your currency will blossom. I built Lagos yet it owes debts in trillions of Naira. Shame on this organisation supporters.

1 Like

Re: Top Ten African Currencies Compared To US Dollar by khattab02: 4:04am On May 12
I see many people suggest we should also move 2 zeros.. well Soludo suggested it and he was quickly Rebuffed.



We should ask our leaders why then??

1 Like

Re: Top Ten African Currencies Compared To US Dollar by khattab02: 4:06am On May 12
iLegendd:
Don't expose our Ghanian people nah. You too wicked.
grin grin
Re: Top Ten African Currencies Compared To US Dollar by 2Radii: 4:51am On May 12
sonofsteven:


Then Nigeria should do it that way if it's possible as you said

That way we can buy things cheaper with dollar

Someone said indomie is 55 cedis, which he calculated in naira and asked what Ghana is doing on the list... can you buy indomie pack of 5pcs for 55 naira ?



Make the government add or subtract the zero to make naira strongest currency, e no go bad if 1 dollar na 1 naira
Lol, it will still amount to same thing, make una dey think about the aftermath of every decision abeg.

Ok, if some zeros are removed, then image u earning 100naira a month but telling u to buy a deep freezer at 40naira, remaining 60naira in ur hand..but before, u re earning 1m naira in a month and deep freezer was 400k, remaining 600k with you...now tell me what is the difference?? grin

1 Like

Re: Top Ten African Currencies Compared To US Dollar by Raph82(m): 4:59am On May 12
Zonefree:

What's Ghana doing here? undecided

About 5 pack of 80gram indomie noodles in Ghana is 55 Ghana Cedis, that's above $4.

While $4 in Nigeria can get you over 10 pack of same 80gram indomie noodles.
may be the 80grm pack has grilled chicken in it, we never can tell cheesy
Re: Top Ten African Currencies Compared To US Dollar by jayce232: 5:18am On May 12
Beverlyjean:
Now,a war turn country has is just 4 to a dollar... they don't use the dollar , their citizens don't need or even take it seriously..... the only way we can get it right is to use force by making FX illegal on the streets .... it should only be electronically traded thru the banks ...all crypto should be banned ... anyone found trading crypto or dealing with FX should be arrested immediately... Nigerians that can afford it are buying it up and hoarding it like black market fuel sellers ...
You still left the main thing to be writing nonsense, who do Nigeria this kind thing? You are comparing Libya to Nigeria? Are Libya leaders as corrupt as Nigeria leaders?? You people keep looking for every other thing to blame exempting the corrupt leaders who are the main cause of our problems. All these nations with strong currencies don't they have FX & cryptto??
Re: Top Ten African Currencies Compared To US Dollar by sorepco(m): 5:20am On May 12
Exactly. That's why i also laughed at Ghanaians saying their currency is stronger than the naira just because they removed 3 zeros from their useless former cedis.
=129900472]Currency conversion ratio is of little significance when you consider that currencies can be adjusted.

For example, the Kuwaiti Dinar (KWD) is the strongest currency in the world with a single Kuwaiti dinar buying $3.25 US dollars (or, put another way, one US dollar equals 0.31 Kuwaiti dinars) but can the Kuwaiti economy measure against USA or other advanced economies?
As a matter of fact, kuwaiti dinar was adjusted by taking away three zeros to make it the world's strongest. That's something anyone can do and become the worlds strongest currency but not necessarily the world strongest economy.

Money is a just a metric system that can change based on goods and service backing it or can be recalibrated to ease management of money system. [/quote]
Re: Top Ten African Currencies Compared To US Dollar by estyvino(m): 5:46am On May 12
Islie:


https://thenationonlineng.net/top-ten-african-currencies-compared-to-us-dollar/
Re: Top Ten African Currencies Compared To US Dollar by Pat081: 6:00am On May 12
Blackfire:
grin


Reality is now setting in



Very soon CFA will bench naira.



How tinubu convinced zombies to vote for him by just shouting emilokan
You be ode if LP works with PDP you know what that means
Re: Top Ten African Currencies Compared To US Dollar by villagereporter(m): 6:00am On May 12
CodeTemplar:
Currency conversion ratio is of little significance when you consider that currencies can be adjusted.

For example, the Kuwaiti Dinar (KWD) is the strongest currency in the world with a single Kuwaiti dinar buying $3.25 US dollars (or, put another way, one US dollar equals 0.31 Kuwaiti dinars) but can the Kuwaiti economy measure against USA or other advanced economies?
As a matter of fact, kuwaiti dinar was adjusted by taking away three zeros to make it the world's strongest. That's something anyone can do and become the worlds strongest currency but not necessarily the world strongest economy.

Money is a just a metric system that can change based on goods and service backing it or can be recalibrated to ease management of money system.
.


Kuwait economy was so strong due to their oil rich state that Saddam Hussein had to invade the country in 1991- you remember gulf war?

The average life expectancy in Kuwait double that of Nigeria, there is an excess of over 3000kwh for every individual.

So what else can economy of a country be measured with, the only challenge in Kuwait is their strict Islamic laws.
Re: Top Ten African Currencies Compared To US Dollar by Af0nja: 6:04am On May 12
Zonefree:

What's Ghana doing here? undecided

About 5 pack of 80gram indomie noodles in Ghana is 55 Ghana Cedis, that's above $4.

While $4 in Nigeria can get you over 10 pack of same 80gram indomie noodles.

No mind am, Ghana removed over four zeros from their currency to seem artificially valuable.
Re: Top Ten African Currencies Compared To US Dollar by villagereporter(m): 6:04am On May 12
helinues:


You called yourself cooldowntemper but you have been provoking others for no sensible, reason trolling them up and down.

Why not start practicing what you are preaching
.

Very soon I will write an open letter to you on this forum- may be when you read it you will stop defending the indefensible.
Re: Top Ten African Currencies Compared To US Dollar by Af0nja: 6:06am On May 12
villagereporter:
.


Kuwait economy was so strong due to their oil rich state that Saddam Hussein had to invade the country in 1991- you remember gulf war?

The average life expectancy in Kuwait double that of Nigeria, there is an excess of over 3000kwh for every individual.

So what else can economy of a country be measured with, the only challenge in Kuwait is their strict Islamic laws.

You know nothing about economics. Then why is Indonesia, south korean, Chinese currencies not strong despite their economy beating that of those on this list hands down

2 Likes

Re: Top Ten African Currencies Compared To US Dollar by Lovenorth: 6:22am On May 12
CodeTemplar:
Currency conversion ratio is of little significance when you consider that currencies can be adjusted.

For example, the Kuwaiti Dinar (KWD) is the strongest currency in the world with a single Kuwaiti dinar buying $3.25 US dollars (or, put another way, one US dollar equals 0.31 Kuwaiti dinars) but can the Kuwaiti economy measure against USA or other advanced economies?
As a matter of fact, kuwaiti dinar was adjusted by taking away three zeros to make it the world's strongest. That's something anyone can do and become the worlds strongest currency but not necessarily the world strongest economy.

Money is a just a metric system that can change based on goods and service backing it or can be recalibrated to ease management of money system.
Explain the benefits of the above to the current problems of Nigeria?
Re: Top Ten African Currencies Compared To US Dollar by PusssyLord: 6:24am On May 12
Nigeria money is tissue paper...SHIT MONEY

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