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Nairaland Forum / Nairaland / General / Politics / Nigerian Naira Fast Becoming The Weakest Currency In Africa (1864 Views)
Nigerian Naira Fast Becoming The Weakest Currency In Africa.... / South Eastern Aspirants Weakest In PDP Ticket Race / Sagay: This Is The Most Confused, Weakest INEC I Have Ever Seen (2) (3) (4)
Nigerian Naira Fast Becoming The Weakest Currency In Africa by usamali(m): 7:52am On Sep 20, 2019 |
NIGERIAN NAIRA FAST BECOMING THE WEAKEST CURRENCY IN AFRICA.... South Africa: Rand 1= 79 Naira Angola: 1 kwanza = 12 Naira Botswana: 1 Pula = 28 Naira Cape Verde: 1 Escudo = 8 Naira Algeria: 1 Dinar = 12 Naira Egypt: 1 Pound = 35 Naira Eritrea: 1 Nakata = 18 Naira Ethiopia: 1 Birr = 19 Naira Ghana: 1 Cedi = 56 Naira Gambia 1 Dalasi = 9 Naira Kenya: 1 shilling = 6 Naira Liberia: 1 Dinar = 8 Naira Lesotho: 1 Loti = 19 Naira Libya: 1 Dinar = 156 Naira Morocco: 1 Dirham = 176 Naira Madagascar: 1 Ariary = 14 Naira Mauritius: 1 Rupee = 16 Naira Malawi: 1 kwacha = 21 Naira Mozambique: 1 Metical = 24 Naira Namibia: 1 Dollar = 32 Naira Seychelles: 1 Rupee = 22 Naira Sudan: 1 pound = 42 Naira Swaziland: 1 Lilangeri = 19 Naira Tunisia: 1 Dinar = 150 Naira Zambia: 1 kwacha = 28 Naira Even the worst economies of Africa now have more valuable Exchange rate than us. As at today $1 = N370 €1 = N450 £1 =N540 N1,000,000 is less than $4000. ...and some think that we have not reached the breakpoint? Putin (Russia): Lawyer Trump (America): Economics degree Merkel (Germany): PhD physical chemistry Xi Jinping (China): Chemical engineering and Doctor of Law Buhari (Nigeria): WAEC not found Yet, somebody wants a growing economy under this administration we re just playing is time to say Goodbye if we must tell ourselves the truth this country can't be Giant of Africa again. 10 Likes 3 Shares
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Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by Nobody: 7:56am On Sep 20, 2019 |
Sharaaaaaap there. If you dey vex go and protest. The time you used to research and type this, it will reach you to wear shirt and enter street with camera. The last election did you even vote? 5 Likes |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by Cutealexio(m): 8:05am On Sep 20, 2019 |
Currency is really not a determinant to strong economy. Take South Korea, Japan, Vietnam as examples. Infact it's encouraged that countries should devalue their currencies and this is why China devalued Yuan. Devaluing Currency may seem counter-intuitive, but a strong currency is not necessarily in a nation's best interests. A weak domestic currency makes a nation's exports more competitive in global markets, and makes imports more expensive. It also boosts exports, shrink trade deficits and reduces sovereign wealth bondage. In quote weak currency is an advantage to any country willing to export more than imports. Just my view usamali: 9 Likes 2 Shares |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by starstaz(m): 8:07am On Sep 20, 2019 |
U have done ur best to educate us on the comparative strength of our Naira. The next question is the data analysed credible worth or not. yes it is. The impact of poor leadership and forsight is one since 1960 to date. 2 Likes |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by Meti99(m): 8:10am On Sep 20, 2019 |
ffd |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by Nukilia: 8:19am On Sep 20, 2019 |
The present administration is a big mistake |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by izombie(m): 8:23am On Sep 20, 2019 |
Cutealexio:after your long epistle you still shot yourself in the leg with the last two lines of your post. Since nigeria imports a whole lot more than we export what is your solution to that? 3 Likes |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by Deepfeel(m): 8:29am On Sep 20, 2019 |
By the time we Biafrans have our nation 1 Biafran pound will be 350 naira 1 Like |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by lukui: 8:33am On Sep 20, 2019 |
Nigerians with the medicine after death syndrome, when the former president was spending money anyhow, the former central bank governor and former minister of finance ngozi okonjo were both shouting that it is dangerous that we may slide into recession, shebi everybody kept mum and no one told the truth, now that the repercussion I snow biting both the guilty and the innocent you are now comparing us with other countries. Lemme ask you, when Nigerians were spending free money that they did not work for, was it the other African countries that collected it from them? So don't bring any comparison here, we caused our problems, if we suffer the consequences there is no big issue there!!! 1 Like |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by Cutealexio(m): 8:35am On Sep 20, 2019 |
I wonder if this is how you talk to people in real life or you only talk like this behind your keyboard. Well, since Nigeria is trying to reduce Imports and increase exports then this is a good choice. China for example was a really poor country but they managed to lift themself out of poverty by industrialization. This present government is more focused on agriculture just like most European countries and Australia. Nigeria has a good land and high population of youths so if the government creates an enabling environment for agriculture then we will have enough to export to other countries NB the last line you made reference to, you can see I used the word "WILLING" izombie: 2 Likes |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by izombie(m): 8:39am On Sep 20, 2019 |
Cutealexio:i didn't mean to be rude bro. Anyways, your analysis up here makes sense. |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by Cutealexio(m): 8:41am On Sep 20, 2019 |
One love my Brother izombie: |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by KnowAll(m): 9:03am On Sep 20, 2019 |
Maura to pounds is now 427, actually d Naija is aging strength from d free fall of 2015 when it hit 650 to the pound. |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by FarahAideed: 9:05am On Sep 20, 2019 |
Cutealexio: So is Nigeria a strong economy? Please keep quiet 1 Like |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by Cutealexio(m): 9:07am On Sep 20, 2019 |
Ask your english teacher for a refund FarahAideed: |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by FarahAideed: 9:10am On Sep 20, 2019 |
Cutealexio: Answer my question or keep quiet . Nonsense talk , don't come here and start trying to subtly support Buhari while pretending you are trying to make sense ..Only a wicked sadist will support such a failed govt 1 Like |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by caprini1: 9:15am On Sep 20, 2019 |
usamali:OP the big question for you is......can 1 ghana cedi buy what 56 naira can buy? if your answer is NO.....go and sleep ,jare! 1 Like |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by IamaNigerianGuy(m): 9:30am On Sep 20, 2019 |
Cutealexio: Your view makes no sense. The Nigerian naira is collapsing as a result incompetence, useless leadership and and a weak economy not because of a deliberate policies aimed at encouraging exports. There is no economic theory that says the currency must be s.hit just to support export policy. The UK, US, South Africa, China, Russia, South Korea, UAE, Cote D'Ivore amongst others, are exporters. 1 Like |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by PapaBaby: 9:41am On Sep 20, 2019 |
The only currency we're currently competing with now is, the Zimbabwean dollar. 2 Likes
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Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by Johnnyessence(m): 9:48am On Sep 20, 2019 |
usamali:nawaooooo on next lefu government. |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by olisaEze(m): 9:56am On Sep 20, 2019 |
Cutealexio: Right you are! Unfortunately, our export activities are more or less concentrated on crude oil. And even that is fraught with massive fraud against the Nigerian people. |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by wizzzmike: 9:57am On Sep 20, 2019 |
caprini1: so all this countries only Ghana you saw there....what do Nigerians want from Ghana? |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by caprini1: 10:14am On Sep 20, 2019 |
wizzzmike:Closest country of comparison and similarity,thats all. |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by PetroDollaxxxx: 10:48am On Sep 20, 2019 |
Cameroon, Benin, nigeri and Togo are closer to Nigeria than Ghana. Similarity? There is nothing similar between Ghana and Nigeria, perhaps apart from the unfortunate factor of both being colonized by Britain. caprini1: 1 Like |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by caprini1: 10:50am On Sep 20, 2019 |
PetroDollaxxxx:Ok. |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by Cutealexio(m): 10:51am On Sep 20, 2019 |
I support Buhari in areas of infrastructural developments,I don't support Buhari in areas of Security, I support Buhari in areas of Agriculture, I don't support Buhari in areas of Human rights policies, I support Buhari in fight against corruption, I don't support Buhari in terms of Foreign affairs. Bro, I ain't partisan and if I am then I have right to who I choose to support or not to support. FarahAideed: |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by Cutealexio(m): 11:19am On Sep 20, 2019 |
What do you mean when you said there's no economic theory that supports that? DEVALUATION itself is a monetary policy. I agree that in Nigeria's case it wasn't intentional but it can still be used to our advantage. As far as I'm concerned UK and South Africa are not secondary exporters. You made mention of South Korean do you know 1,000 naira is 3,000 won? What does UAE has to export apart from crude oil? IamaNigerianGuy: |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by Cutealexio(m): 11:21am On Sep 20, 2019 |
Exactly, the economy needs to be diversified olisaEze: |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by FarahAideed: 12:29pm On Sep 20, 2019 |
Cutealexio: Why don't you name one infrastructure Buhari had developed? |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by Badb0y4lyf(m): 12:29pm On Sep 20, 2019 |
CBN was best under Soludo And has policy in place to stabilize the naira |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by fykes(m): 12:51pm On Sep 20, 2019 |
caprini1:Where I live, 56naira can't buy anything oo |
Re: Nigerian Naira Fast Becoming The Weakest Currency In Africa by Just30: 1:18pm On Sep 20, 2019 |
caprini1:can $1 buy what 400 naira can buy? if your answer is no ...go and sleep |
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