hardywaltz:
U know very little about currencies. Unfortunately I can't explain it to you.
I went to Ghana and Togo recently and believe me I fell in love with the Naira.
In 2012
1 GH Cedi = N 150
But today 1 GH Cedi = N 81

This is despite the massive devaluation of the Naira

Just so u know
1$ = 112 Japanese yen
Yet Japan is one of the strongest economies in the world

sunnysunny69:
Nice read but honestly most of those countries nationals most time wish they are Nigerian.

aolawale025:


The strength of a currency isn't as important as a country's productivity

Yyeske:
OP, it doesn't reflect in the cost of living as you may think.
Take for instance, one US dollar will buy over 1200 South Korea won yet South Korean economy is one of the most industrialized and strongest in the world.
.
Some years back, over 9000 Ghanaian cedis will buy 1 US dollar, the government decided to remove 5 zeros from the exchange rate making the new Ghanaian cedi 0.90 to one US dollar, today it has depreciated to 4.39 cedis to one US dollar.
Just as someone said earlier, it is the productivity of the economy that matters and not exchange rate.
.
That the currency has more power doesn't translate to being productive and its people doing well.
Which do prefer, staying in Seoul and buying one dollar for over 1200 won or Accra and buying dollar for less than 5 cedis or even in Nigeria where you get your dollar for about 360naira.

Agbaletu:
Very correct.

sunnysunny69:
Nice read but honestly most of those countries nationals most time wish they are Nigerian.

RomeSankara:


Stop lying why will they wish they are Nigerians, stop recovering yourself and try to travel a lot more then you will know Nigerians have one of the worst standard of living on earth

sunnysunny69:
I have been to some countless countries and most African countries national still respect us.

RomeSankara:


Stop lying why will they wish they are Nigerians, stop recovering yourself and try to travel a lot more then you will know Nigerians have one of the worst standard of living on earth

cutieme:
OP,u say what is the currency of liberia?

sunnysunny69:
I have been to some countless countries and most African countries national still respect us.

stepo707:
Liberia uses Liberian dollars and USD. Copy and paste has finished the OP

hardywaltz:
U know very little about currencies. Unfortunately I can't explain it to you.
I went to Ghana and Togo recently and believe me I fell in love with the Naira.
In 2012
1 GH Cedi = N 150
But today 1 GH Cedi = N 81

This is despite the massive devaluation of the Naira

Just so u know
1$ = 112 Japanese yen
Yet Japan is one of the strongest economies in the world

Nyouth:
We compared Nigerian Naira to other African currencies, the result is shocking
pulse.ng Oct 12, 2017 2:32 PM
I felt only a few African countries could have stronger currencies than the naira but I was shocked and ashamed with what I found out.

Different denominations of the naira (Naij.)
I wanted to do an online transaction with an online fashion brand abroad. Of course, I always make sure I check the exchange rate before I place an order, to know how much I would be spending in naira.
As usual, after calculating the exchange rate, what I wanted to get was on the high side. I just became humble and cancelled the transaction.

I started thinking if the disparity between dollar and naira is so insane, what will be the exchange rate of the naira to the currencies of other African countries. I picked 25 random African countries and compared their currencies with the naira.

Before I started my findings, I felt only a few African countries could have stronger currencies than the naira but boy I was shocked and ashamed with what I came up with.

Check out the latest exchange rate of the Nigerian naira compared to some random African countries' currencies.

1. South Africa - 1 Rand = 26.28 Naira

2. Ethiopia - 1 Birr = 13.30 Naira

3. Ghana - 1 Cedi = 81.96 Naira

4. Gambia - 1 Dalasi = 7.60 Naira

5. Kenya - 1 Shilling = 3.48 Naira

6. Liberia - 1 Dinar = 3.05 Naira

7. Swaziland - 1 Lilangeni = 26.55 Naira

8. Tunisia - 1 Dinar = 145.90 Naira

9. Zambia - 1 kwacha = 36.7 Naira

10. Angola - 1 kwanza = 2.17 Naira

11. Lesotho - 1 Loti = 26.55 Naira

12. Libya - 1 Dinar = 262.77 Naira

13. Morrocco - 1 Dirham = 38.32 Naira

14. Madagascar - 1 Ariary = 0.12 Naira

15. Mauritius - 1 Rupee = 10.5 Naira

16. Malawi - 1 kwacha = 0.50 Naira

17. Mozambique - 1 Metical = 5.8 Naira

18. Namibia - 1 Dollar = 26.55 Naira

19. Seychelles - 1 Rupee = 26.38 Naira

20. Sudan - 1 pound = 53.89 Naira

21. Botswana - 1 Pula = 34.60 Naira

22. Cape Verde - 1 Escudo = 3.82 Naira

23. Algeria - 1 Dinar = 3.18 Naira

24. Egypt - 1 Pound = 20.45 Naira

25. Eritrea - 1 Nakata = 23.52 Naira

The currencies of some worse economies in Africa have better value than the naira.

So the question is - Do you think Nigeria's naira is the weakest currency in Africa and the world at large and what is the way forward to strengthen the naira.

Share your thoughts and comments

sunnysunny69:
Nice read but honestly most of those countries nationals most time wish they are Nigerian.

Agbaletu:
It does not work that way. Most of the currencies above cannot be exchanged with Naira directly, it is either you buy Dollar, Euro or Pound Sterling and take them to these countries to get the local currencies.
You will discover that Naira is more valuable than most of them when you want to buy anything in the countries you mentioned.

Bede2u:

This it the lie Hausa and Yoruba tell themselves to justify their one Nigeria stance. That Nigeria is/will be great.
The truth is they want to suck as much ND oil as possible b4 the country disintegrates

Almaiga:


An IPOB sighted, by their words we shall know them.