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Nairaland Forum / Nairaland / General / Investment / Protection For Investors Against Devaluation Of Naira (660 Views)
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Protection For Investors Against Devaluation Of Naira by uchemac: 1:20am On Jul 21, 2016 |
Dear Investor's, Nigerian Naira’s Devaluation is no more news. The question asked now is, what is the way forward? For those of you who have money in your Nigerian bank accounts, you know that you are loosing money by the day as a result of the uncertainty of our dwindling economy. The Nigerian Central Bank began the process of devaluation of the Naira, this may drive people towards cryptocurrencies as an alternative investment option. The centralized monetary policies inherently flawed, proves the ongoing collapse of government-formed finance structure of many countries, including Greece, Venezuela and China. Now, Nigeria is also falling into the same category, thanks to the falling oil exports following international conflicts. In the current economic structure, the majority of international trades are carried out using reserve currencies – the US Dollar. While imports and exports are vital for the countries to maintain economic growth, the value of the native currency against the reserve currency determines the country’s capability in smooth trading. As it seems, Nigeria is suffering right there...at the moment... The currency, so far been pegged at about 199 per dollar has crashed by almost 100 points in recent times. The actual trading value of Naira stands at around 280 to 300 Naira per dollar, while the current black market rates are around 370 Naira per dollar. The Nigerian Central bank has announced recently that the value of country’s legal tender will soon be market driven as the bank intends to get rid of the peg which was in place for over 16 months. The main intention behind central bank’s decision is to prevent rapid depletion of the country’s foreign exchange reserves. This move has indeed created panic as investors during the initial days as their investments will end up getting diluted by almost 50 percent. Truth is, the devaluation of the Naira has left you (Investors) thinking on where to put your money. I say, the only Protection for investors against devaluation of Naira is... Click http://www.shebaentertainment.com/sheba/Entertain/smenu.php?id=74 for more information. |
Re: Protection For Investors Against Devaluation Of Naira by uchemac: 8:18pm On Sep 20, 2016 |
Double your investment
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