asuustrike2009:

It was rejected by our political leaders

cyndy1000:
Even Ghana isn't there

yekparikpa:
No Zimbabwe Dollars?

Oritzy:
Ghana cedis is one of the strongest in Africa..

Oritzy:
Ghana cedis is one of the strongest in Africa..

hisgrace090:
What is the giant of Africa doing in that list?

Giant for mouth!

emerged01:

How is Ghana's cedis the strongest?

Olumyco:
OP exchange rate does not determine the value of a country's currency.

I think weakness of a currency should be in terms of value.

A currency value is its purchasing power.

Also in currency denomination, a country can decide to adopt any style... it is the economy of the country that shows the true value of its currency. A country with high denomination can still be higher in value than a smaller denomination.

I repeat the purchasing power of a country's currency is the key factor when it comes to strength.

See like Cedis

Cedis was recalibrated around 2007/2008. Ghana removed 4 zeros from their money.

Its also called redecimation or redenomination.

There is a reason why economics must be applied to anything that has to do with money.

1 Cedis was 10, 000 cedis before 2007/2008.. Even up till now in Ghana many of them still refer to 100 cedis as 1 million.

Normally it is economy plus some other economic principles that shud increase the value of a currency and not manual methods like recalibration.

And to prove that nothing serious has changed in Ghana with their recalibration.

1 cedi = 75/80 naira

1 cedi will buy 5 sachets of pure water while 75/80 naira will buy 7 to 8 sachets of pure water.

Infact when the recalibration was done it was 1 cedi to 1 dollar but now because of economy instability.... the cedi has dropped and it is now being exchange for 4/4.7 cedis to 1 dollar.

Further more exchange rate is being determined by many factors that has to do with economics. Economic policies play a major role in exchange rate determination.

A country can decide to increase or decrease based on the economy of the country.

When an economy is dependent on dollar for import there is tendency that the economy will be controlled by dollar and in dat case if you want to decrease the way your dollars go out since import is more than export (meaning dollars going out is more than dollars coming in) then you have got to increase the dollar exchange rate to favour the dollar from going out easily and too much.

So in short dollar economy is all about trying to preserve your foreign reserve... when you have more dollar reserve... because export has increased.. then you can decrease...

Well... thats just it.

I will want to shock everyone here that Nigeria foreign exchange reserve is higher than that of South Africa. We even have more dollars than them. Infact Nigeria had the largest foreign exchange reserve in Africa.

Guys the best thing we need to do is to study economics... economics is something everybody in the world needs to manage finances since we spend and earn money. This will enhance our understanding of Forex and currency economics.

Thanks

Danelo:
See as Dollar dey upress our Naira.

wait ooooo so if i go to Guinea with my last 10k i will be a big boy?

#10000 = 3million+ in Guinea.

sircrabo:


They only removed zeros, Our Naira still has a higher purchasing power

queensera:
2018 List of top 10 weakest currency in Africa has just being revealed. Nigeria currency (Naira) make it to the list as the 9th weakest currency in Africa. While guinea currency (Guinea franc) top the list.

Source:
http://nairaplus.com/2018/07/see-list-of-top-10-weakest-currency-in-africa/

Olumyco:
OP exchange rate does not determine the value of a country's currency.

I think weakness of a currency should be in terms of value.

.....

Guys the best thing we need to do is to study economics... economics is something everybody in the world needs to manage finances since we spend and earn money. This will enhance our understanding of Forex and currency economics.

Thanks

jibbish:
Whoever composed this list is daft, just because you compare a currency to the dollar doesn't make it weak.
But what do I know, children of Hate will blame it on Buhari

Edited
As usual, Children of Hatred and Ignorance have attacked me with their Bile but I will let you know that you need to consider Interest rates, Economics Policies and Stability of government.

Jethrolite:
Which political leaders? Name them.

ronaldbecky:
dis 1 na sophicated beggar.u pack motor 4 house dey beg 4 1k..even send out ur acct numb..oga well don.

asuustrike2009:

The current APC chairman

Krisddon:

Funny how we're talking practical but you stick to theory. I don't hate your almighty baba ok? But at least for once, admit that he didn't have a good economic team. Must anyone who speaks the truth be a hater or wailer?

queensera:
2018 List of top 10 weakest currency in Africa has just being revealed. Nigeria currency (Naira) make it to the list as the 9th weakest currency in Africa. While guinea currency (Guinea franc) top the list.

Source:
http://nairaplus.com/2018/07/see-list-of-top-10-weakest-currency-in-africa/

Kyllahmc:
then you want to buy bread there and they tell you a loaf of bread is 1 million franc only.
LOL you guys still don't know how currency and ecomics work.

jibbish:
Whoever composed this list is daft, just because you compare a currency to the dollar doesn't make it weak.
But what do I know, children of Hate will blame it on Buhari

Edited
As usual, Children of Hatred and Ignorance have attacked me with their Bile but I will let you know that you need to consider Interest rates, Economics Policies and Stability of government.

Sewgon79:


Says who, In Guinea Loaf of Bread is either 10,000francs .Buying Rice and meat is 15,000francs in Nigeria Canteen and 5,000francs in their local canteen. Guinea is not as bad as that. There money is devalued but they have good economy and food is cheap

Sewgon79:


Says who, In Guinea Loaf of Bread is either 10,000francs .Buying Rice and meat is 15,000francs in Nigeria Canteen and 5,000francs in their local canteen. Guinea is not as bad as that. There money is devalued but they have good economy and food is cheap

Olumyco:
OP exchange rate does not determine the value of a country's currency.

I think weakness of a currency should be in terms of value.

A currency value is its purchasing power.

Also in currency denomination, a country can decide to adopt any style... it is the economy of the country that shows the true value of its currency. A country with high denomination can still be higher in value than a smaller denomination.

I repeat the purchasing power of a country's currency is the key factor when it comes to strength.

See like Cedis

Cedis was recalibrated around 2007/2008. Ghana removed 4 zeros from their money.

Its also called redecimation or redenomination.

There is a reason why economics must be applied to anything that has to do with money.

1 Cedis was 10, 000 cedis before 2007/2008.. Even up till now in Ghana many of them still refer to 100 cedis as 1 million.

Normally it is economy plus some other economic principles that shud increase the value of a currency and not manual methods like recalibration.

And to prove that nothing serious has changed in Ghana with their recalibration.

1 cedi = 75/80 naira

1 cedi will buy 5 sachets of pure water while 75/80 naira will buy 7 to 8 sachets of pure water.

Infact when the recalibration was done it was 1 cedi to 1 dollar but now because of economy instability.... the cedi has dropped and it is now being exchange for 4/4.7 cedis to 1 dollar.

Further more exchange rate is being determined by many factors that has to do with economics. Economic policies play a major role in exchange rate determination.

A country can decide to increase or decrease based on the economy of the country.

When an economy is dependent on dollar for import there is tendency that the economy will be controlled by dollar and in dat case if you want to decrease the way your dollars go out since import is more than export (meaning dollars going out is more than dollars coming in) then you have got to increase the dollar exchange rate to favour the dollar from going out easily and too much.

So in short dollar economy is all about trying to preserve your foreign reserve... when you have more dollar reserve... because export has increased.. then you can decrease...

Well... thats just it.

I will want to shock everyone here that Nigeria foreign exchange reserve is higher than that of South Africa. We even have more dollars than them. Infact Nigeria had the largest foreign exchange reserve in Africa.

Guys the best thing we need to do is to study economics... economics is something everybody in the world needs to manage finances since we spend and earn money. This will enhance our understanding of Forex and currency economics.

Thanks