I was checking internet today for series of dollar exchange in most African nations and the one that surprises me most is; 1 US dollar is 11.15 Bostwana Pula. A mere Bostwana?

Does it mean they have more foreign reserve than us, and their economy better than us?

To think of this dollar exchange of a thing; if the Banks are to buy a dollar from you as individual, i don't think they can buy it pass #200 and they'll sell to you at #385. Who's suffering, who it affect? The masses i guess.

Please Economic analyst in the house should clarify this thing to me coz i need to know this damn thing.

A mere Botswana?? Yeah! That's it. That's the attitude that has kept us how and where we re now.

Botswana did not have same appetite for foreign goods as we do.

This dollar thing is simply about law of demand and supply.

vfactor:
A mere Botswana?? Yeah! That's it. That's the attitude that has kept us how and where we re now.

You captured my thought.

Hope you know their highest denomination is 200 pula?
1 pula is equivalent to 18 naira

vfactor:
A mere Botswana?? Yeah! That's it. That's the attitude that has kept us how and where we re now.

don't just go by name my guy, those south african countries are uge on tourism and very conservative too, they do not leave their life on frivolities. also many are discovering huge oil reserves nowadays.

kolomax:
Hope you know their highest denomination is 200 pula?
1 pula is equivalent to 18 naira

I am talking of dollars here bro, not this godforsaken naira.

Remii:



don't just go by name my guy, those south african countries are uge on tourism and very conservative too, they do not leave their life on frivolities. also many are discovering huge oil reserves nowadays.

It is the op that should be mentioned not me. We keep believing and dreaming that Nigerian is a giant and other countries in Africa are mere, while the reverse is the case.

.

Just because Botswana's currency exchange rate is higher than that of Nigeria ,is not a good indicator of economic prosperity.
Kuwait currency is far higher than the dollar,it doesn't justify the country's economy to be better than US,Germany,China.
The currency of a country can be fixed to be exchange internationally at an amount.
Kenya, Nigeria, South africa, Algeria's economy are far better than Botswana.
Due to low population, increased per capital income are good factors favouring Botswana.
Just imagine that Botswana makes the amount of money Nigeria makes from crude oil sales and Nigeria making the amount of foreign exchange botswana makes.