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Nairaland Forum / Nairaland / General / Business / Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency (21580 Views)
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Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by damilare442: 11:22pm On Apr 11, 2018 |
Oil currencies have been hammered since crude prices crashed almost four years ago, and none more so than Angola’s. After a series of devaluations that started in January, the OPEC member’s kwanza has now lost 55 percent of its value against the dollar since June 2014, when Brent crude began its slide from a peak of $115 a barrel. It’s overtaken Nigeria’s naira as the worst-performing major oil currency in that period, excluding crisis-ridden Venezuela’s bolivar. Russia’s currency is not far behind. The ruble, floated in late 2014 after the central bank gave up trying to defend it, recovered in 2016 and 2017 along with oil prices. But the U.S.’s new sanctions against Russian oligarchs and listed companies last week hit the nation’s assets hard. The ruble is down 9 percent versus the greenback this week, extending its loss since mid-2014 to 47 percent. Bloomberg Reportage Kaybaba.com https://www.bloomberg.com/news/articles/2018-04-11/angola-overtakes-nigeria-as-owner-of-most-battered-oil-currency 4 Likes 2 Shares
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Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by dapsin999(m): 11:36pm On Apr 11, 2018 |
Nigeria will Tripple take in Buhari’s second term! 8 Likes 3 Shares |
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by grandstar(m): 11:51pm On Apr 11, 2018 |
Angola's economy has been badly managed from time immemorial especially with socialist spirit. It was made worse by the endemic corruption and looting by the previous government which had been in power for over 30years. For such a badly run economy to have its currency just worsen past the naira in the depth of its crisis exposes the depth of Buhari's economic mismanagement. The Naira shouldn't have lost more than 30% of its value if the economy were left in the hands of experts. Instead, he with his lamentable understanding of economics imposed economic hubris on the country throwing it into a recession, the first in about 30years. 45 Likes 3 Shares |
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by Tunasco4u(m): 7:17am On Apr 12, 2018 |
Ok |
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by Ibibioesan(m): 7:18am On Apr 12, 2018 |
we don't want bahuri's second term bid say Nigerians
https://www.youtube.com/watch?v=pqNQ6ieHg-4 3 Likes |
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by oneda(m): 7:19am On Apr 12, 2018 |
Nigeria's naira took a hit when this current administration wanted to make $1 equal to #1. The annoying thing is that he called together a group of misfits who never understood how an economy functions. Aunty Kemi for instance do not understand secondary school economics not to talk about a real life situation. So even when we were messed up already she simply thought Recession is just a word. Hausa you want to rule? No problem just give Igbos the economy to manage and let Yorubas be in charge of tech and IT Just do this and watch Nigeria bounce over Africa and the world. 42 Likes 4 Shares |
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by Preshy561(f): 7:20am On Apr 12, 2018 |
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by fiercehillz(m): 7:20am On Apr 12, 2018 |
The naira is still a poor performer. Africa and bottom positions. 2 Likes |
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by BadBradley: 7:21am On Apr 12, 2018 |
I guess Dumbo Buhari didn't take all these into consideration before making electoral promises of restoring the Naira. Brainless people. 3 Likes |
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by kevoh(m): 7:21am On Apr 12, 2018 |
Nigeria and Angola are almost the same in the worst performing oil currency metric with just 0.2% difference, before Lai Mohammed and APC zombies find a way to spin this as some sort of achievement for this administration. 12 Likes 2 Shares |
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by bettercreature(m): 7:22am On Apr 12, 2018 |
dapsin999:You are wrong! Our reserve has increased by over $24billion since then.Naira can only appreciate no going back 6 Likes 3 Shares |
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by niyisky: 7:23am On Apr 12, 2018 |
grandstar: So convenient to single out Angola. Why did you overlook Rusia who are next to Nigeria? Its their economy also badly managed? Truth is...Buhari met a battered economy and a dwindling oil fortune. 24 Likes 5 Shares |
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by datfreshdoc(m): 7:24am On Apr 12, 2018 |
lol.. Thank God let us rest small abeg... 1 Like |
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by GavelSlam: 7:25am On Apr 12, 2018 |
grandstar: "We have serious challenges. Things have been tough since the beginning of the year and they are likely to remain so till the end of the year," said Finance Minister Ngozi Okonjo-Iweala, adding that more than half of this year's borrowing allowance had already been exhausted." "As it stands today, most states of the federation have not been able to pay salaries and even the federal government has not paid (April) salary and that is very worrisome," said Imo state Governor Rochas Okorocha. http://www.dailymail.co.uk/wires/afp/article-3070070/Nigeria-borrows-pay-salaries-cash-crunch-worsening.html Surely, you don't mean NOI. 11 Likes 1 Share |
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by GavelSlam: 7:27am On Apr 12, 2018 |
grandstar: Please explain how this differs from PDP's 16 year reign? 8 Likes 2 Shares |
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by GavelSlam: 7:28am On Apr 12, 2018 |
BadBradley: Provide a quote 1 Like |
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by Charles478: 7:30am On Apr 12, 2018 |
grandstar:See as u are talking as if looting and corruption was not in Nigeria from time immemorial. 7 Likes 1 Share |
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by new2012: 7:32am On Apr 12, 2018 |
GavelSlam: You must be legally blind if you can't see it. 2 Likes |
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by deepwater(f): 7:32am On Apr 12, 2018 |
Kai |
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by Hector09(m): 7:33am On Apr 12, 2018 |
Despite the fact that their currency is devalue angola is ahead of Nigeria 1 Like |
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by oneda(m): 7:33am On Apr 12, 2018 |
grandstar: Nigeria had been mismanaged over 30 years. In fact fact Nigerian has been gang raped since inception. If not for the fighting spirit of the Nigerian citizens we would have been worse than we are today. Although we are in hell already. 2 Likes 1 Share |
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by princemillla(m): 7:34am On Apr 12, 2018 |
Ibibioesan: Thank God is bahuri or which country are you talking about self |
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by Promismike(m): 7:34am On Apr 12, 2018 |
Ok |
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by Nobody: 7:35am On Apr 12, 2018 |
From #150 to a 1$ to #360 to a 1$, that looks like more than 100 percent fall to me. 4 Likes 1 Share |
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by phemmyfour: 7:35am On Apr 12, 2018 |
We won't take this....We want our first position back 1 Like |
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by GavelSlam: 7:36am On Apr 12, 2018 |
new2012: Who is this badly-trained toddler? What kind of dysfunctional environment bred this uncouth imp? 4 Likes 1 Share |
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by SalamRushdie: 7:36am On Apr 12, 2018 |
When I said in the past that under Buhari the Naira was the worst performing currency on earth some zombies argued and now we can all see I was right..Even though the Angola currency performed in short run worse than the Naira, in the long term the Buhari Naira is a far worse performer and that's why the Angola Kwanza still has more value than the Buhari Naira 10 Likes 1 Share
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Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by castrol180(m): 7:36am On Apr 12, 2018 |
Buhari is a bad omen to Nigeria, why is it that price of oil crashes during his tenure of government? 1 Like |
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by Nobody: 7:36am On Apr 12, 2018 |
oneda:How will you give yoruba tech and IT, what happened to igbo.. We don't even need the economy we just need our markait. |
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