According to Forex today Nigerian Naira dares US Dollas as it skyrockets.According to the exchange rate $1USD=#199 The emergence "change revolution" that every normal Nigerian is clamouring for seems is gradually coming to reality,however that reminds me the latin popular words "Veni vidi vici" that is "i think therefor" Nigeria shall be better,in years to come,other parts of the world will be crazy for Nigerian Visa.If you believe Nigeria will be better and best hits Like.

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dunsman:
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[url][/url]https://beta.dailyfx.com/forex/fundamental/article/special_report/2015/08/11/What-Does-Yuans-Devaluation-Mean-for-Chinese-and-Global-Markets.html?CMP=SFS-701320000011HqsAAE



Check out the above link about Chinas struggle to bring its Currency Value down. Opposite of what Nigerians thinks will help them.

Chinas reason for a lower valued currency is to help their Export market which is the base of their economic strength. The low currency value maneuvers have helped to boost their export market earnings and enrich their economy so much that it has been driving their currency value up.
The currency value being driven up, then goes on to reduce their export earnings and weakens the economy. So they work to reduce the currency value again and again rather than try to raise their currency.

Nigeria is behaving like a country that intends to stay in an import intensive economy, because a high Naira value will never help Nigeria sell exports to the world and that will hurt the economy.
Nigeria is boosting production and squeezing flow of imports, which can help encourage productivity and local made purchases grow in Nigeria, but as long as people are spendng Naira to do so, it really doesnt matter how the Naira rates against currencies from outside Nigeria.
The Naira Value only matters for those who have full intention of being import reliant such as with petrol imports, automotive assembly components, Rich politicians running overseas for medical and luxury items, and the list goes on.
Nigeria wants to raise the Naira to ease the cost of import, but that doesnt help the economy nor the Naira in the long run. A lower rated Naira can help Nigeria in the same way a lower rated Yuan helps China, but Nigeria is still yet to raise productivity to a level that benefits from a low Naira value.

So instead, Nigeria is trying to serve itself a meal without so much the effort to place down a plate for it to be contained?
That sounds about right, same country so popular for serving itself huge prices and politician salaries before layng down the foundation for deserving that. Serving itself the status of economic power of Africa before laying down the infrastructure and Quality/Standard of living in and for the Nation.
Just Chop Chop and manipulate for a benefit without the foundation to feasibly carry it. And so it is things crash again and again while the real issues go ignored or sheltered for the benefit of those very few at the very top.

Just take time to think about China an economic Giant of the world, making manipulations to drive its currency value down, while Nigeria is making manipulations to drive its currency up..
Then think about all the productivity and extent of investment in functional infrastructure in China versus the same in Nigeria..
Then it begs to ask, what is with Nigeria and the want for bigger status, higher valued currency and so on, without the quality and standard of living and production to match?
The answer is simple in the same answer to why Nigerian politicians earn more than other politicians around the world while doing very little service to the country and running outside the country to take care of their most important needs. Its all about want for more and more and more without the real work and understanding put in for it.
The Naira can be as high and as low as can be and it wont make a differnece about anything for people within Nigeria if they have their productivity, standard of living ,coruption control ,and social services functioning well for them.
Without these, no amount of value to the Naira will help the economy, and all artificial manipulations to change the value, will see long term failure.