Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,195,077 members, 7,957,015 topics. Date: Tuesday, 24 September 2024 at 04:11 AM |
Nairaland Forum / Nairaland / General / Business / Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. (58384 Views)
Nigeria's Naira Reverses Back As World's Worst Performing Currency — Bloomberg / See Why The Nigeria Naira Is Rapidly Depreciating Against The Dollar / Matches: I Am Shocked After Seeing This In Nigeria (photo) (2) (3) (4)
(1) (2) (3) (4) (5) (6) (7) (8) (Reply) (Go Down)
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by inedujac: 2:31am On Oct 16, 2017 |
Dee60:Even with 150 naira you can have bread and akara all together. What mater is what you can buy with your so call pound and dollar. Ehh mai sayi give me bread and sayi 80 naira own, no put too much sugar o 2 Likes 1 Share |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by nelsonebby(m): 4:17am On Oct 16, 2017 |
Zenithpeak:olodo 1 Like 1 Share |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by alenwup(m): 4:42am On Oct 16, 2017 |
Some people's joy is that Nigeria is on the negative side. They wouldn't authenticate the news, they just believe and call Buhari 1 Like 1 Share |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by LeanonGOD(m): 4:47am On Oct 16, 2017 |
Great Analysis. Freetech: |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by LeanonGOD(m): 4:50am On Oct 16, 2017 |
Naira's Purchasing Power is by far greater than most African countries - believe me. Zenithpeak: |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by seniwellsFX: 4:54am On Oct 16, 2017 |
Dee60:sorry,but u are using the purchasing power parity metric in a complete reverse manner to support your argument. The value of any currency is determined by what it can get u both in the local and international market using the inflation adjusted rate. The real question should be. What can our #300 naira get us in countries like Kenya as stated by u and other African countries stated by the op? That is how true values of currencies as well as economies should be scaled. Your analogy is like asking what can $1 get u in the US, when it should be what can $1 get u outside the US. The value of goods and services ur currency gets u outside ur country represents the true value and strength of both ur economy and currency. Some other person's mentioned the devaluation and weakness of the naira to spur growth,increase production and boost exports, and I laugh at their sense of reasoning seriously. I doubt if such persons are truly Nigerians. If they are then their physical bodies may be in naija,but their minds and senses must be in space, No offense pls. How does a nation that has extremely low export capabilities enjoy the benefits of the supposed weak and devalued currency? Pls we should be intellectual and serious with our analysis and suggestions most times. The fact is if we continue with our present way of living and governance(crave for foreign goods)we will continue to fall socially and economically in all aspects of of national lives. 3 Likes |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by lordizak(m): 5:04am On Oct 16, 2017 |
���� |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by sfinkzslot(m): 5:06am On Oct 16, 2017 |
sfinkzslot: |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by seniwellsFX: 5:09am On Oct 16, 2017 |
Cladez:lolzzzz... another funny analogy. You think because we struggle to buy designer clothing's,live like we are Americans and form swag makes us live better than them. Pls go to google and check the GDP per capita,misery index and life expectancy between Naija and those other African countries mentioned. Then u can know for yourself if truly we live better than they do. No dey use music videos and other things way we dey see for TV to judge ohh... 1 Like |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by seniwellsFX: 5:20am On Oct 16, 2017 |
groovie:Omo...this ur currency exchange mechanism no be here ooo... abeg no try do business with this ur style ooo..or else Na serious problem u go put urself oo.. lolzzzz... Only currency spreads and commissions fit chop 2 to 3% of the monetary acquired equity after this round trip exchange rate operations 2 Likes |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by adegeye38(m): 5:35am On Oct 16, 2017 |
Zenithpeak:money value has absolutely nothing to do with d economy, cos. inflation rate defers The true value of a currency |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by no1madman(m): 6:43am On Oct 16, 2017 |
Bahahaha! 1 Like 1 Share
|
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by Jsucre(m): 6:44am On Oct 16, 2017 |
[quote author=Freetech post=61434321]I think you need to understand dynamics of economy of Nations. Production determined the strength of currency of any country. Nigeria economic production is currently at its lowest ebb because of the problem with crude price. Note, this is our major production. Any country that find herself in this type of situation must devalue her currency to encourage exportation and discourage importation. Production to meet local need and for export will increase. In 2007 - 2009 both us and Britain devalue their currency more than 3 time because of recession. Even Ghana you put here had to divide their currency by 1000 to have current value Finally, this have nothing to do with the quality of life in the country but to encourage production. TURKISH LIRA. IS THE MOST USELESS CURRENCY IN THE WORLD BUT TURKEY HAVE BETTER ECONOMY AND QUALITY OF LIFE THAN ANY OF AFRICAN COUNTRY UP THERE. The little gain we have in non oil export and rice production. thanks 4 enlighten dem |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by groovie(m): 7:20am On Oct 16, 2017 |
seniwellsFX:If you understood my post, you wouldn't have said this. No need to conclude that i want to do business when that is not even the topic |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by Ucheparker(m): 7:33am On Oct 16, 2017 |
Dee60: Don't mind this unlearned OP. Has never been to any of those countries or he won't write this rubbish of a post. And people are already being deceived and talking down on Nigerian economy. With what is written I. The article ₦82 can buy the equivalent of a ₦100 recharge card in Ghana because they sell recharge card at 1cedi. To cut your hair in Ghana you would need to spend 6 cedis which the equivalent of ₦492 and this is exactly what they use to cut your hair in the village!. A lot of people have written about currency devaluation but few Nigerians understand what that means but in essence if you devalue your currency you can just reassign value of one note to a lesser note! In simple terms 1 Ghana cedis should buy exactly what ₦100 should buy but the naira is ahead of the cedis by ₦18! And this is just for cedis, I'll bet that all of the countries on that list also devalued their currency too. So their 1 whatever their currency is should also buy what ₦100 should buy except south African rand on that list. |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by Nobody: 7:35am On Oct 16, 2017 |
Op the Eritrean currency is known as the NAKFA and not Nakata,as you called it. Nakata is the name of some Japanese. Take note. |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by centboy123456(m): 7:46am On Oct 16, 2017 |
Werehkpe: devalued our countries as in how pls explain for me |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by Nobody: 8:06am On Oct 16, 2017 |
Naptu2 please come and explain this for us. |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by Carter4luv(m): 8:08am On Oct 16, 2017 |
The only way to better her currency 1. Buy made in Nigeria before buying made in China, USA, London use 2. Invest in technology (start producing what will attract other countries to come to us for exportation. 3. Agriculture (food) is one thing the world cannot do without. If Nigeria will venture and invest more money on agriculture an average Nigerian will never go broke again. And Nigeria will be number one exporters of food to other countries. 4.education. Nigeria should redefined our educational system from primary to university, instead of we Nigerians going to other countries to school like Ghana, south Africa, Europe, America, and Asia. All of this people will also come to school here too cux we av the best to offer. Still on education. The Nigeria engineers out of 100% only 10% are creative, and wen trying there best to be productive nobody cares for them. Hospital we have good hospitals in the country but we lack equipment for treatment, most of dis countries our politicians travel to for treatment d doctors there are not God its same brain God gave to them he gave to us. We should put our brains into work den we can achieve greater things. 5. Tourism ( an area of attraction) most Nigerians travel round the world for sight view, but yet in our country wat we view his war and corruption. If we Nigerians the individual who are wealthy and the government put hands together to develop her nation this country will be the best. 6.sports. Sports is one thing people will never get tired of. Let the rich come out to have a share or buy a Nigeria club, build good stadium like south Africa did and invite (sign) foreign and other Africa players to sign and play in enyinba fc, kano pillars etc with all dis Nigeria will not spend time travelling to London or Spain to watch matches but will put more effort to support her national premier League. We can make this country great again if we are united. Our naira we be $1 = #1 if we value wat we have within us. My name is carter4luv and I love my country Nigeria #longliveNaija #naija4life 2 Likes 2 Shares |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by luzhioo(m): 8:13am On Oct 16, 2017 |
Dee60: |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by CocoaOla: 8:27am On Oct 16, 2017 |
Akachukwu42:Oga I'm not in Nigeria |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by Dollabiz: 8:32am On Oct 16, 2017 |
Really |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by Nobody: 8:45am On Oct 16, 2017 |
Freetech: Many African countries like Angola still depend on crude oil sales to make money and yet their currency is stronger than the naira. Fall in price of crude oil does not lead to a recession 1 Like |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by jidoex66(m): 8:47am On Oct 16, 2017 |
Freetech: Turkish lira useless? Sorry can you explain that. Its 3.5TRY to 1USD |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by valinno(m): 8:53am On Oct 16, 2017 |
buhari is a definition of failure. |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by GhanaMustGoo: 9:16am On Oct 16, 2017 |
To strengthen the naira[i][/i] simply change the currency Simply print the current 1000 naira as one naira |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by leathalbeast: 9:32am On Oct 16, 2017 |
richard870:then I'm even more disappointed in you because you really know nothing at all even though you live here. I'm beginning to wonder if you live in a hole over here! |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by Just30: 9:39am On Oct 16, 2017 |
Ucheparker:I guess the naira has more value than the dollar cos cutting your hair cost less in Nigeria than in the US and UK. 3 Likes 1 Share |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by Just30: 9:47am On Oct 16, 2017 |
richard870:like taxation 1 Like 1 Share |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by leathalbeast: 10:04am On Oct 16, 2017 |
Just30:don't mind him, he thinks Nigerians would survive the taxes we pay here. like they will quickly overthrow their government in an uprising and a civil war will ensue. 1 Like 1 Share |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by Just30: 10:10am On Oct 16, 2017 |
leathalbeast:I don't know why their shallow level of thinking surprise me all the time |
Re: Compare Nigeria's Naira To Other African currencie and Be Shocked At The Result. by leathalbeast: 10:14am On Oct 16, 2017 |
Just30:maybe it's because we keep having the hope that they will wise up but it's not getting any better. their brains may never be decoded and it's such a pity. 1 Like 1 Share |
(1) (2) (3) (4) (5) (6) (7) (8) (Reply)
Shoprite Ilorin Shuts Its Doors As A Result Of Too Much Customers Today / My Visit To A Garri Processing Factory With Pictures / Kenneth Bramor's "Expensive" Convoy Trapped After A Downpour
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 84 |