Commendable

Op take note: a few years back, Ghana 🇬🇭 removed some zeros from its Cedi.



6.Ghanaian Cedi (Ghana) Currency Name: CediCode: GHCCurrent Exchange Rate: $1 = GH₵ 13.89
A country's exchange rate to the US Dollar is not a true measure of the country's economic strength.

Throwback:
For the ignorant, currency and economy are not the same.

When Naira was equal to the Pound Sterling and above the US Dollar, it did not mean our economy was any miles close to that of UK or Britain.

Same reason why the British economy is no where close to the US, despite that the Pound Sterling is above the dollar.

If Nigeria decides to remove 4 zeros like how Ghana did before 2008, our currency will be higher that the dollars, yet our economy won't be any better for it, besides eliminating the inferiority complex that ties to the exchange rate for those who are ignorant.

See the person calling others ignorant. Smh.

muyico:
Nigeria is number what?

Last number in Africa

When APC miscreants are rejoicing over 1$=1300

Tallesty1:
Giant no dey top ten




Why is Binance not affecting their Currencies?

They arenot as corrupt as Nigeria .... Buharis government moved most of the country's money thru Cryptos , so that it would not be traced ... Nigeria is not a country that should operate crypto, cos crypto enables criminality...and Nigeria is the hub of criminals

Islie:


https://thenationonlineng.net/top-ten-african-currencies-compared-to-us-dollar/

Sad how my beloved country has degenerated in less than three decades.

Like a phoenix, we shall rise someday soon despite all the pervading gloom.

yewit37486:


See the person calling others ignorant. Smh.

You want to disgrace yourself today?

If you do not know anything about currency exchange and economic size or performance, better keep quiet and learn.

Throwback:


You want to disgrace yourself today?

If you do not know anything about currency exchange and economic size or performance, better keep quiet and learn.

Learn from a chief troll? No thanks.

Throwback:
For the ignorant, currency and economy are not the same.

When Naira was equal to the Pound Sterling and above the US Dollar, it did not mean our economy was any miles close to that of UK or Britain.

Same reason why the British economy is no where close to the US, despite that the Pound Sterling is above the dollar.

If Nigeria decides to remove 4 zeros like how Ghana did before 2008, our currency will be higher that the dollars, yet our economy won't be any better for it, besides eliminating the inferiority complex that ties to the exchange rate for those who are ignorant.

First time I read your comment laden with facts apart from your Britain and UK error. Most probably, you had US in mind but typed UK.

CodeTemplar:
Currency conversion ratio is of little significance when you consider that currencies can be adjusted.

For example, the Kuwaiti Dinar (KWD) is the strongest currency in the world with a single Kuwaiti dinar buying $3.25 US dollars (or, put another way, one US dollar equals 0.31 Kuwaiti dinars) but can the Kuwaiti economy measure against USA or other advanced economies?
As a matter of fact, kuwaiti dinar was adjusted by taking away three zeros to make it the world's strongest. That's something anyone can do and become the worlds strongest currency but not necessarily the world strongest economy.

Money is a just a metric system that can change based on goods and service backing it or can be recalibrated to ease management of money system.

I hate nonsense coments, why can't your country adjust their own and make it the strongest and let's see if the world will end. You people should stop defending incompetency and unreasonable leaders.

Blackfire:



Reality is now setting in



Very soon CFA will bench naira.



How tinubu convinced zombies to vote for him by just shouting emilokan

I don't understand, do you meant CFA used by Benin republic? If yes it has bench naira since last year, 10k naira gives you 4k cfa now, yesterday it was even 10k naira to 3700CFA

CodeTemplar:
Currency conversion ratio is of little significance when you consider that currencies can be adjusted.

For example, the Kuwaiti Dinar (KWD) is the strongest currency in the world with a single Kuwaiti dinar buying $3.25 US dollars (or, put another way, one US dollar equals 0.31 Kuwaiti dinars) but can the Kuwaiti economy measure against USA or other advanced economies?
As a matter of fact, kuwaiti dinar was adjusted by taking away three zeros to make it the world's strongest. That's something anyone can do and become the worlds strongest currency but not necessarily the world strongest economy.

Money is a just a metric system that can change based on goods and service backing it or can be recalibrated to ease management of money system.

Then Nigeria should do it that way if it's possible as you said

That way we can buy things cheaper with dollar

Someone said indomie is 55 cedis, which he calculated in naira and asked what Ghana is doing on the list... can you buy indomie pack of 5pcs for 55 naira ?



Make the government add or subtract the zero to make naira strongest currency, e no go bad if 1 dollar na 1 naira

A lot of uneducated fellas here, ignorant in politics and economy, all thanks to Peter obi the container minister of economic making the influx of imbeciles possible on social media

Efuaye:
In early ’80s Naira was equal to a dollar but misgovernance by successive governments have left us where we are now!
Nigeria, now a country of IDPs and palliatives.

Naira was actually higher than dollar in the 70s to mid 80s

https://www.nairaland.com/3902518/naira-dollar-exchange-rate-1972-2017

Naira will obviously be the worst.

Wondering what hell is like? Wonder no more. Nigeria is it.

Zonefree:

What's Ghana doing here?

About 5 pack of 80gram indomie noodles in Ghana is 55 Ghana Cedis, that's above $4.

While $4 in Nigeria can get you over 10 pack of same 80gram indomie noodles.

Ghana cedi is deceptive. They removed 2 zeros from it artificially.

Zonefree:

What's Ghana doing here?

About 5 pack of 80gram indomie noodles in Ghana is 55 Ghana Cedis, that's above $4.

While $4 in Nigeria can get you over 10 pack of same 80gram indomie noodles.

Ghana cedi is deceptive. They removed 2 decimal points from it artificially.

Islie:


https://thenationonlineng.net/top-ten-african-currencies-compared-to-us-dollar/

On top of it all we still remain the Giiant abi na Goliath of Africa

Take off Ghana from that list

Efuaye:
In early ’80s Naira was equal to a dollar but misgovernance by successive governments have left us where we are now!
Nigeria, now a country of IDPs and palliatives.

Nigeria is a mix of FORTUNE and MISFORTUNE. From the weathy states of Lagos that has the metro rail, generates huge IGR and has a private petrol refinery to the poor states of the North battling banditry, insurgency, religious extremism spiced with poverty.

Nigeria has seen it all. Same country battling hunger is same country the citizens have taste for imported goods at the detriment of their currency. I doubt if we know where we're going in this country.

Well, Nigeria can overtake all of them, as far as our currency value is concern if our government can encourage & lead massive productions across all sectors, particularly in agriculture & its value chain, as well as fight corruption to a standstill.


Nigeria is not only a consuming nation but a nation of devourer/wasters of d meagre produces & resources.

muhammaduyusufu:
In Ghana, a loaf of bread is more expensive than in Nigeria. The spending power or what that currency can get you i.e. value is what matters.

The way una dey reason sef

In china small table water na like 2yuan (400naira )

You don't need to judge a currency based on your own currency

Will you say yuan or china purchasing power is high?

Now the reality should be

1 is 1, 100 should be 100

Which means 2yuan should be 2 naira

If water na ordinary 2yuan, I should be able to buy water 2naira

You can't say because your naira is weak, others buying with their currency is something else

A pack of indomitable(5pcs ) in china I'd 14.99yuan

Which is almost 3,000naira

If you check am in dollars through naira it should be almost 4dollars will you say the purchasing power in china is high? No

5kg rice na 400yuan almost more than 80,000naira
Now all these I mentioned are cheaper here when you are making your money here and spending here

I hope you understand

You don't use your own currency to judge another's spending power or currency

If you are to do that

Let 1 be equivalent to 1

Let 100naira be 100yuan

Then if they are buying things higher in numbers then you can say their purchasing power is higher

Most of my appliances like TV 85in refrigerator double door etc na here I buy am

Because with 5,000yuan you buy bigger things wey be almost 1million naira in naija...

With these explanations I do hope you understand

Islie:


https://thenationonlineng.net/top-ten-african-currencies-compared-to-us-dollar/

How we take wowo like this sef? Who we offend?

Zonefree:

What's Ghana doing here?

About 5 pack of 80gram indomie noodles in Ghana is 55 Ghana Cedis, that's above $4.

While $4 in Nigeria can get you over 10 pack of same 80gram indomie noodles.

They forgot to add that Ghana removed two zero digit from their currency

RenaissanceGuy:
LOL. This is very incorrect. Kuwait removed 3 zeros from their currency?? Do you know how wealthy that country is? It's a lie; maybe you are referring to Ghana who did that about 18 years ago or thereabouts, not Kuwait. The dinar was 1 dinar to 1 pound in 1961; today it's 1 dinar to £2.6 —meaning more than 60 years later, it's now nearly 3 times more valuable than pounds while almost every other country's currency is below the pounds. Reason: Sensible leaders and crude oil.

You think if Nigeria even decides to revalue its currency against the dollar at the rate of ₦1 to $1, our naira would still not depreciate to ₦17/$ within months?? It's stability we're talking about, if not every country would simply do so and start boasting to have stronger currency than the US.

Exactly besides if it's possible for this government, they would have done it before buhari left power

It's not easy

Throwback just dey try defend himself

If numbers were equal worldwide

Then anyone buying something higher will be termed as a country with high purchasing power

Eg.. 100naira is 100dollars

If US con dey buy water 2dollars and we dey buy water 1naira then we fit talk

But if I'm spending 10dollars to eat to my satisfaction, while in USA that uses dollars, someone using naira will say we spend too much on food because he couldn't eat to his satisfaction with the same 10naira..am I supposed to use naira in a country that uses dollars... things are made cheaper to them that lives in that country and make their money in that country

I dey chop African food here with today's rate it's 10k per morning, 10k afternoon and night more than 10k depending on the food I want to eat but least is 10k naira

You will say it's expensive but to us here,it's cheaper because 50yuan is 50yuan not 10,000yuan

So let it be 50naira too

You can't use your own currency to judge another's currency because what you buy with naira is cheaper when they convert their money into naira

I hope Nigeria can remove the zeros in naira to make it the strongest currency

We fit dey buy food 10naira to chop bellefu and cheaper commodities so that our neighbors fit dey envy us say we remove zeros to make it look stronger

I est my case

Islie:


https://thenationonlineng.net/top-ten-african-currencies-compared-to-us-dollar/

The zoo currency is not here

Cooldowntemper:


Shatap

Seconded.

muyico:
Nigeria is number what?

Last

sonofsteven:


Exactly besides if it's possible for this government, they would have done it before buhari left power

It's not easy

Throwback just dey try defend himself

If numbers were equal worldwide

Then anyone buying something higher will be termed as a country with high purchasing power

Eg.. 100naira is 100dollars

If US con dey buy water 2dollars and we dey buy water 1naira then we fit talk

But if I'm spending 10dollars to eat to my satisfaction, while in USA that uses dollars, someone using naira will say we spend too much on food because he couldn't eat to his satisfaction with the same 10naira..am I supposed to use naira in a country that uses dollars... things are made cheaper to them that lives in that country and make their money in that country

I dey chop African food here with today's rate it's 10k per morning, 10k afternoon and night more than 10k depending on the food I want to eat but least is 10k naira

You will say it's expensive but to us here,it's cheaper because 50yuan is 50yuan not 10,000yuan

So let it be 50naira too

You can't use your own currency to judge another's currency because what you buy with naira is cheaper when they convert their money into naira

I think it is called PPP
Purchasing power parity.