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Nairaland Forum / Nairaland / General / Business / Exchange Rate Of African Currencies To Nigerian Naira. (10302 Views)
History Of Nigerian Naira, Symbol, Sign And Worth. / SEE The Nigerian Naira's Exchange Rate To The Dollar As At Today / Brief History Of The Fall Of The Nigerian Naira (2) (3) (4)
Exchange Rate Of African Currencies To Nigerian Naira. by JustJosh20(m): 8:02pm On Feb 21, 2016 |
South Africa:
Rand 1 = 13 Naira .
Angola: 1 kwanza = 2
Naira .
Botswana: 1 Pula = 18 Naira .
Cape
Verde: 1 Escudo = 2 Naira .
Algeria: 1 Dinar =
2 Naira .
Egypt: 1 Pound = 25 Naira .
Eritrea:
1 Nakata = 13 Naira .
Ethiopia: 1 Birr = 9
Naira .
Ghana: 1 Cedi = 50 Naira .
Gambia
Dalasi = 5 Naira .
Kenya: 1 shilling = 3 Naira .
Liberia: 1 Dinar = 4 Naira
. Lesotho: 1 Loti =
14 Naira . .
Libya: 1 Dinar = 146 Naira .
Morrocco: 1 Dirham = 146 Naira .
Madagascar: 1 Ariary = 4 Naira
Mauritius: 1
Rupee = 6 Naira .
Malawi: 1 kwacha = 11
Naira .
Mozambique: 1 Metical = 4 Naira .
Namibia: 1 Dollar = 12 Naira .
Seychelles: 1
Rupee = 12 Naira .
Sudan: 1 pound = 32 Naira
. Swaziland: 1 Lilangeri = 13 Naira
. Tunisia:
1 Dinar = 100 Naira .
Zambia: 1 kwacha = 18
Naira |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by Nobody: 8:07pm On Feb 21, 2016 |
Thats funny because currently 1cedi = N100. 3 Likes |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by Tpave(m): 8:09pm On Feb 21, 2016 |
Chai, my naira don finish. But what can be done now to reverse the situation now cos it's getting out of hand? |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by bigtt76(f): 8:16pm On Feb 21, 2016 |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by Nempi(m): 8:19pm On Feb 21, 2016 |
Blame Poo hari 2 Likes |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by gebest: 8:23pm On Feb 21, 2016 |
too bad |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by nasiest(m): 8:24pm On Feb 21, 2016 |
Na why some people never get job.simple information e no fit provide.rubbish. |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by tooman: 8:26pm On Feb 21, 2016 |
Hhmm cefa nko |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by Karlovich: 8:26pm On Feb 21, 2016 |
Agents of change, have u all seen the level where u have brought nigeria to. Saint fashola, amaechi, dullard and co. 1 Like |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by oyinkinola: 8:27pm On Feb 21, 2016 |
[s] JustJosh20:[/s] 1. ....there are very many commentary on depreciation of ₦ nowadays expecially in parallel market, although parallel or black market can be manipulated by the traders, they either do it on their self interest, so those who doesn't beleive in the prosperity of nigeria can harbour $ as they can on imported goods hereby cause hike! But in my own point of view the depreciation of ₦ is a great success to this nation if well manage to nigeria situation today. the looted fund is in $ and it must be refunded back in $, so if $1 is ₦198 when the money is looted, then if the money is refund today at $1 to ₦350 the nation has gained ₦152! imagine if $1=₦1000, the gain is ₦902! So in conclusion if the government managed to refund the $trillion looted and the refunded money, change it in parallel market, this will reduce the pressure on ₦ and the scarcity of $ in parallel market so the ₦=$. (take note all the money took out of CBN during jonathan regime were changed in parallel market before ditributed) you have other opinion? 2. ...2017 budget will beat record... ₦1 quadrillion!, all the social sectors will be substantially finance to trillions ₦, poverty will be completely eradicated and by the end of year 2018 Nigeria will be declared a developed state and classify one of the first three country in the index of human . I know you will argue on how this can happen with the economics situation of today, low foreign reserve, low oil price, with depreciation of ₦. yes oil price is down, foreign reserve is dry but we still have foreign looted fund reserve at hand! when recovered and well managed, it won't be problem to have money for this budget! we can only pray that a $ hit ₦1000 and all $1 trillion looted recovered! I know for sure that with the determination of this government and the support of foreign nation to help recovered all $ trillion looted it will happen.....$1 trillion recovered and change to ₦ will give us ₦1 quadrillion needed to financ that budget! year 2017 bye bye to poverty! 3. ....OIL AND LFR THE TWO MAIN MEANS OF INCOME FOR NIGERIA ECONOMY .....with the determination of Nigeria president Buhari and the trust of of world leaders toward nigeria, from America, Eroupe, Asia and gulf nation the down price of oil and the rise in $ is not a corse to nigeria but a blessing. Among the oil producing countries, and OPEC only nigeria have what other didn't, we have oil in common but nigeria have the looters as well, this opportunity raise nigeria above other oil nation and when all this country are frustrated with oil down price, nigeria have turn to her looted fund reserved to keep her economy running. Nigeria is bless with oil and (LFR) looted fund reserve, when the oil price is down, the rise-up of dollar $ hike the value of our LFR, if government inject the LFR recovered on the economy, it will boot our economy! at rate of $ to ₦ today if government managed to recovered $1 trillion LFR it will give us: $1=₦400, $1trillion=₦400trillion! I hereby challenge the Nigeria economists who insist that rising $ and downwards of oil price is a broke to nigeria economy to come-up for debate! Note (LFR is looted fund reserve) 2 Likes |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by Nobody: 8:29pm On Feb 21, 2016 |
how do one get visa to morocco? |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by naijaboy756: 8:34pm On Feb 21, 2016 |
oyinkinola:you need to see a psychiatrist ASAP. Your case is becoming serious! 7 Likes |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by joshing(m): 8:39pm On Feb 21, 2016 |
Please give the black market exchange rate |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by Bevista: 8:41pm On Feb 21, 2016 |
Tpave:You do not compare a country's currency solely based on their face/nominal value but based on Purchasing Power Parity (PPP). --- Japan is the world's 3rd largest economy, yet the nominal value of their currency is lower than the next 10 largest countries. South African Rand has a higher nominal value than the Japanese Yen, does that make the South African economy better than that of Japan? 7 Likes 1 Share |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by Tpave(m): 8:45pm On Feb 21, 2016 |
Bevista:Thanks for the enlightenment 1 Like |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by oyinkinola: 8:46pm On Feb 21, 2016 |
[s] naijaboy756:[/s] The efforts of Nigerian government to recover the looted fund without the full supports of Nigerian would not make the task easy for the government, to recover the looted fund, we are hearing that the looters will fight back the nation and they were doing so without hide! it's samefull to this nation that a few elements with their evil acts and their colaborators hold down the 170 million nigerian in sufferance at the watch of themselves without any reactions isn't this a shame to the nation? If $1 trillion is unaccounted for and we are looking elsewhere for an angel to come and fix our economy for us without taken the looters responsible, it's a shame to this nation, if we still depend on the aid of western world , Usa, Asia gulf state for our own survival while harbouring the looters who looted us to bone without challenge, then it's a shame to the nation! if the Europian looted their treasory can they have the money to fix their economy talkless of helping others. if a party which formed for the service of the people openly support and protected the looters it is a shame, enough is enough for the office holders and publics sevants who looting nigeria treasory. NLFRC is now at watch of you looters and a drastic action will be taken against any looters! here is some of the action taken so far: Letter to the UN Letter to the EU Letter to the world bank and monetary institutions Letter to the AU Letter to the ECOWAS Letter to the nations: Swis, Gb, Usa, Germany, Asian nation, Gulf states etc we let's these international communities known that we need their full support on how to help nigerian government recover every kobo looted in nigeia and placed in their countries, no more hide out for the looters any longer, they either return the looted fund at their disposure or return it, no other options, they may try to play god or take is as joke all for their peril! JOIN NLFRC Crusade to save nigeria nation! NLFRC: Nigeria Looted Fund Reserve Recovered Crusade. GOD BLESS NIGERIA....AMEN co-ordinator oyinkinola 1 Like |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by amaechi1: 8:46pm On Feb 21, 2016 |
oyinkinola: My Dear, you have said it all. All lot of people are blaming the government for the fail of naira but these people are not willing to change their taste for foreign goods, also not willing to make sacrifices. |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by SegunAdewole: 8:49pm On Feb 21, 2016 |
oyinkinola: You are speaking plenty useless english. The long and short of the story is that 1$ will be N3000 before the end of year. The whole country is depressed and dulllard still pays his children's school fees in dollars and pound, while you zombies are not sure where your next meal will come from. I've stopped giving alms to abooki beggars and even yoruba muslims. Make dem too feel the pains they put us into. |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by Sibrah: 9:49pm On Feb 21, 2016 |
Double |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by Sibrah: 9:59pm On Feb 21, 2016 |
The way forward We should start doing everything thats reduces importation and strive to increase exportation plus be self sufficient. Explanation: whenever we import an item, we transfer part of our wealth in dollar form to the foreigner who produced, and supplied the raw materials thereby reducing the net value of our economy. This is reflected in a reduced or depreciated Naira. If we produce to be self-sufficient and stop importing or even beat that mark and go on to export, we find out people start having dollar in excess as a result of exportation earnings and as a result of this, they will be willing to sell it at rate close to FG's CBN N198.50. The reason Naira is exchanging to dollar at N400+ is because we are shrinking its value by transfering our wealth to foreign land when we buy foreign goods. Solution We should start producing and exporting items whose value can negate the net value of what we lose in importation process. Dangote, Adenuga, Unilever and big industries around are the reason we are still getting Dollar at N400+ today, it could have been N700 and the anger directed at FG and Buhari will not be justified still. |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by JustJosh20(m): 10:10pm On Feb 21, 2016 |
oyinkinola: nice write up I must say... but if u believe that there's anything like LFR... then your case is biblical!!!! 1 Like 1 Share |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by tuk2ato(m): 10:12pm On Feb 21, 2016 |
I think it is obvious we need to devalue our currency, we cant have 2 forex regimes where the dollar is selling for 197 naira at the interbank market and close to 400 naira at the parallel market. A lot of the African countries mentioned below also have a monolithic economy based on oil. JustJosh20: |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by oyinkinola: 10:16pm On Feb 21, 2016 |
SegunAdewole:[/s] good remarks! according to your observation if $1=₦3000, then $1trillion LFR= ₦3quadrillion! at today's ₦7trillion budget, how many years budget ₦3quadrillion can finance? |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by SegunAdewole: 10:21pm On Feb 21, 2016 |
oyinkinola: Keep trying to spend money you don't have. That's why many of we yorubas fail financially, we spend money that's absentia. By the time we figure out what's going on, we are in debt and selling our houses to Easterners. You call it 'looted', but you want to start spending it before even recovering it. I pity you. |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by oyinkinola: 10:26pm On Feb 21, 2016 |
[s] SegunAdewole:[/s] [b]The efforts of Nigerian government to recover the looted fund without the full supports of Nigerian would not make the task easy for the government, to recover the looted fund, we are hearing that the looters will fight back the nation and they were doing so without hide! it's samefull to this nation that a few elements with their evil acts and their colaborators hold down the 170 million nigerian in sufferance at the watch of themselves without any reactions isn't this a shame to the nation? If $1 trillion is unaccounted for and we are looking elsewhere for an angel to come and fix our economy for us without taken the looters responsible, it's a shame to this nation, if we still depend on the aid of western world , Usa, Asia gulf state for our own survival while harbouring the looters who looted us to bone without challenge, then it's a shame to the nation! if the Europian looted their treasory can they have the money to fix their economy talkless of helping others. if a party which formed for the service of the people openly support and protected the looters it is a shame, enough is enough for the office holders and publics sevants who looting nigeria treasory. NLFRC is now at watch of you looters and a drastic action will be taken against any looters! here is some of the action taken so far: Letter to the UN Letter to the EU Letter to the world bank and monetary institutions Letter to the AU Letter to the ECOWAS Letter to the nations: Swis, Gb, Usa, Germany, Asian nation, Gulf states etc we let's these international communities known that we need their full support on how to help nigerian government recover every kobo looted in nigeia and placed in their countries, no more hide out for the looters any longer, they either return the looted fund at their disposure or return it, no other options, they may try to play god or take is as joke all for their peril! JOIN NLFRC Crusade to save nigeria nation! NLFRC: Nigeria Looted Fund Reserve Recovered Crusade. GOD BLESS NIGERIA....AMEN co-ordinator oyinkinola[/b] |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by SegunAdewole: 10:38pm On Feb 21, 2016 |
oyinkinola: Why don't you start from buhari's looted 77 suitcases as a military coupist and treasonable felon, down to IBB, down to Abacha ( remember abacha was not corrupt says mr dulllard), then to Obj. The money you'll recover will last 10 generations. Only this will make sane people join your campaign, if not a bogus one. |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by Dexema(m): 10:42pm On Feb 21, 2016 |
even when some currencies have been decimalised to the. nearest whole number? hahahahahaaha I laff in xhosa |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by oyinkinola: 11:02pm On Feb 21, 2016 |
SegunAdewole: ...no one is spared, even you! |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by oyinkinola: 11:03pm On Feb 21, 2016 |
[s] Dexema:[/s] The efforts of Nigerian government to recover the looted fund without the full supports of Nigerian would not make the task easy for the government, to recover the looted fund, we are hearing that the looters will fight back the nation and they were doing so without hide! it's samefull to this nation that a few elements with their evil acts and their colaborators hold down the 170 million nigerian in sufferance at the watch of themselves without any reactions isn't this a shame to the nation? If $1 trillion is unaccounted for and we are looking elsewhere for an angel to come and fix our economy for us without taken the looters responsible, it's a shame to this nation, if we still depend on the aid of western world , Usa, Asia gulf state for our own survival while harbouring the looters who looted us to bone without challenge, then it's a shame to the nation! if the Europian looted their treasory can they have the money to fix their economy talkless of helping others. if a party which formed for the service of the people openly support and protected the looters it is a shame, enough is enough for the office holders and publics sevants who looting nigeria treasory. NLFRC is now at watch of you looters and a drastic action will be taken against any looters! here is some of the action taken so far: Letter to the UN Letter to the EU Letter to the world bank and monetary institutions Letter to the AU Letter to the ECOWAS Letter to the nations: Swis, Gb, Usa, Germany, Asian nation, Gulf states etc we let's these international communities known that we need their full support on how to help nigerian government recover every kobo looted in nigeia and placed in their countries, no more hide out for the looters any longer, they either return the looted fund at their disposure or return it, no other options, they may try to play god or take is as joke all for their peril! JOIN NLFRC Crusade to save nigeria nation! NLFRC: Nigeria Looted Fund Reserve Recovered Crusade. GOD BLESS NIGERIA....AMEN co-ordinator oyinkinola |
Re: Exchange Rate Of African Currencies To Nigerian Naira. by seunt4ut(m): 11:11pm On Feb 21, 2016 |
JustJosh20: You failed to mention CFA the most popular currency in Africa! 1k naira used to be 3k cfa as at December last year. But today 1K Naira is 1500k cfa 1 Like |
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