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Nairaland Forum / Nairaland / General / Business / Naira is Worst Performing Currency In Africa In 2016-The Economist (17277 Views)
Top 10 Weakest Currency In Africa (See List) / Naira Among Worst Performing Global Currencies In 2016 / Naira Now Africa’s Worst Performing Currency Of 2016 (2) (3) (4)
Re: Naira is Worst Performing Currency In Africa In 2016-The Economist by Apoztl3(m): 11:22am On Sep 07, 2016 |
Vanillaskin:I don't see that happening anytime soon. That's a news in history now ma'am |
Re: Naira is Worst Performing Currency In Africa In 2016-The Economist by chloride6: 5:59pm On Sep 17, 2016 |
InvertedHammer: Nigeria before the recession was a country importing around $80 Billion Annually, Of that Crude Oil Sale provide about $35 Billion of that, the rest is sourced from Remittances from the diaspora and Foreign Investment. What i am saying here is that Nigeria NEEDs foreign investments to thrive. Simple You take away the Foreign Investment and add Low Crude Oil Revenue, you get a receding economy. Even if Oil Sells at $100, you still need foreign investment in form of stocks, bonds etc providing Foreign currency to sustain Imports The point i was making earlier is that foreign investments come in when the investor is guaranteed returns amidst manageable risks. The Biggest of such risk is the Exchange Rate risk. Taking money from a US Institution at 3 Percent to put in our economy at 12 Percent makes no sense when the exchange rate is going against you 200 Percent!! Hence no right thinking person will invest money knowing that the Naira is still in free fall. They know because the foreign reserves tell everybody so. $25 Billion USD is far from Safe and a bit too close for comfort. The CBN will NEVER let the reserve get to $22 Billion. The Results are catastrophic and i would not go into them now So everyone knows from the figures that the CBN does not simply have the resources to support the Nigerian Economy. The only alternative is to get about $15 to $20 Billion in order to bolster confidence and stabilize the naira. Everybody saying we is should look inward at the point is just a JOKER! Looking inward is a Long Term Plan which is not realizable in the next 5 years if you start getting it right now How can you look inward when you don't have simple electricity No need to look inward, inside is very dark Fix the Electricity, the rest will fall in place gradually. I'm Out!! |
Re: Naira is Worst Performing Currency In Africa In 2016-The Economist by InvertedHammer: 8:37pm On Sep 17, 2016 |
chloride6:/ Nice! You listed the symptoms. But what is the diagnosis? \ |
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