Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,154,669 members, 7,823,890 topics. Date: Friday, 10 May 2024 at 05:31 PM

$10,000 Or NGN 7,000,000 Which Would You Choose? - Investment - Nairaland

Nairaland Forum / Nairaland / General / Investment / $10,000 Or NGN 7,000,000 Which Would You Choose? (456 Views)

How To Make SURE N7,000 Or 14k Daily / How To Make About $100 NOT $10,000 Each Month Online - Bye Bye To Ebooks / Invest N1,000,000 Or More And Earn 10% ROI Monthly? (2) (3) (4)

(1) (Reply) (Go Down)

$10,000 Or NGN 7,000,000 Which Would You Choose? by ultimatex(m): 11:35am On Nov 03, 2020
I have a question for you.
You are to only pick one.

If you are given $10,000 or NGN 7,000,000 to be fixed with no interest for a duration of 3 years. This means you cannot access any of the funds till October 01, 2023. Which would you pick?
Re: $10,000 Or NGN 7,000,000 Which Would You Choose? by sonofElElyon: 11:44am On Nov 03, 2020
Obviously dollars because of the rate of inflation in Nigeria and likelihood of depreciation in naira value..
So what exactly are you selling? Out with it!

ultimatex:
I have a question for you.
You are to only pick one.

If you are given $10,000 or NGN 7,000,000 to be fixed with no interest for a duration of 3 years. This means you cannot access any of the funds till October 01, 2023. Which would you pick?
Re: $10,000 Or NGN 7,000,000 Which Would You Choose? by Davash222(m): 11:51am On Nov 03, 2020
sonofElElyon:
Obviously dollars because of the rate of inflation in Nigeria and likelihood of depreciation in naira value..
So what exactly are you selling? Out with it!

Can a dollar sell above N700 before 2023?

1 Like

Re: $10,000 Or NGN 7,000,000 Which Would You Choose? by Xerxes2088: 11:52am On Nov 03, 2020
i'll take the #7,000,000
i don't see the naira falling as far as 700 naira to the dollar in 3 years
Re: $10,000 Or NGN 7,000,000 Which Would You Choose? by sonofElElyon: 11:56am On Nov 03, 2020
Oh.. guess I didn't do the conversion.. just assumed you used current exchange rate..
Well.. hmmm..
Davash222:

Can a dollar sell above N700 before 2023?
Re: $10,000 Or NGN 7,000,000 Which Would You Choose? by Davash222(m): 11:58am On Nov 03, 2020
sonofElElyon:
Am I God to know that?
So, why then are you choosing $10K over 7Million Naira?
Re: $10,000 Or NGN 7,000,000 Which Would You Choose? by sonofElElyon: 11:59am On Nov 03, 2020
Oh.. guess I didn't do the conversion.. just assumed you used current exchange rate..
Well.. hmmm..
N7m seems a better choice..
Davash222:

So, why then are you choosing $10K over 7Million Naira?
Re: $10,000 Or NGN 7,000,000 Which Would You Choose? by ultimatex(m): 12:18pm On Nov 03, 2020
Davash222:

Can a dollar sell above N700 before 2023?

That is the big question.
Re: $10,000 Or NGN 7,000,000 Which Would You Choose? by SavageResponse(m): 1:45pm On Nov 03, 2020
Xerxes2088:
i'll take the #7,000,000
i don't see the naira falling as far as 700 naira to the dollar in 3 years

Don't be too sure about that
Re: $10,000 Or NGN 7,000,000 Which Would You Choose? by SavageResponse(m): 1:55pm On Nov 03, 2020
ultimatex:
I have a question for you.
You are to only pick one.

If you are given $10,000 or NGN 7,000,000 to be fixed with no interest for a duration of 3 years. This means you cannot access any of the funds till October 01, 2023. Which would you pick?

Davash222:

So, why then are you choosing $10K over 7Million Naira?

I would choose $10,000 over N7,000,000 in this scenario even if you ask me 1,000 times.

Reasons
US$ is a far better store of value especially if the funds will be fixed for such a long time

The possibility of exchange rate falling to 1$ to N1,000 within the next 3 years is a reality. Why do you think there has suddenly being a spike in prices in Nigeria?

Crude oil which is our main forex earner has dropped therefore manufactures are having a difficult time accessing forex with which to pay for imports of essential raw materials and machinery
Re: $10,000 Or NGN 7,000,000 Which Would You Choose? by ultimatex(m): 11:56am On Nov 06, 2020
SavageResponse:




I would choose $10,000 over N7,000,000 in this scenario even if you ask me 1,000 times.

Reasons
US$ is a far better store of value especially if the funds will be fixed for such a long time

The possibility of exchange rate falling to 1$ to N1,000 within the next 3 years is a reality. Why do you think there has suddenly being a spike in prices in Nigeria?

Crude oil which is our main forex earner has dropped therefore manufactures are having a difficult time accessing forex with which to pay for imports of essential raw materials and machinery

You have a very interesting point here.

(1) (Reply)

Earn Litecoin For Free (legit) / Which Forex Broker Is Reliable? / Official Sex Business

(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. 15
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.