Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,159,891 members, 7,841,333 topics. Date: Monday, 27 May 2024 at 07:38 AM

Top Ten African Currencies Compared To US Dollar - Business (4) - Nairaland

Nairaland Forum / Nairaland / General / Business / Top Ten African Currencies Compared To US Dollar (46457 Views)

NAIRA Vs Other African Currencies In Africa / Nigerian Naira To Other African Currencies Presently / We Compared Nigerian Naira To Other African Currencies, The Result Is Shocking (2) (3) (4)

(1) (2) (3) (4) (5) (6) (Reply) (Go Down)

Re: Top Ten African Currencies Compared To US Dollar by stasius: 6:28am On May 12
Even Kwacha is better than Naira.

Wonders shall never end!

grin grin grin grin grin grin grin grin grin
Re: Top Ten African Currencies Compared To US Dollar by Achoghim: 6:38am On May 12
Your communist proposal isn’t going to take us anywhere. As a capitalist state, people are always going to source for Fx which is used to pay for international transactions. I run a website and I have to pay the web hosting fees in USD
Beverlyjean:
Now,a war turn country has is just 4 to a dollar... they don't use the dollar , their citizens don't need or even take it seriously..... the only way we can get it right is to use force by making FX illegal on the streets .... it should only be electronically traded thru the banks ...all crypto should be banned ... anyone found trading crypto or dealing with FX should be arrested immediately... Nigerians that can afford it are buying it up and hoarding it like black market fuel sellers ...
Re: Top Ten African Currencies Compared To US Dollar by patrickcollins: 6:38am On May 12
Putinofrussia:
Basically,it is mostly the poor masses that spend naira but the elites,foreign missions,govs etc mostly spend dollar.
It has been there for long barely noticed because Nigeria was still sinking bit by bit and because we have had mostly mumu govts in Nigeria who always thought that Nigeria was rich and no matter what they do even negatively,Nigeria will still be rich.
Just like some undiscerning people were saying that if a dog rules Lagos,it will still continue to be rich grin
Some people are so ignorant.

FG should monitor those govs,bank CEOs too closely because they are part of the rot.
Tinubu is the problem how can someone just take hasty decisions on policies without wide consultation, on the day of inauguration he shouted subsidy is gone without stepping foot in the office to check the numbers, he floated the naira taking it from 700 to 1500 what good impact have these had on our economy

1 Like

Re: Top Ten African Currencies Compared To US Dollar by Blitzking: 6:42am On May 12
Islie:


https://thenationonlineng.net/top-ten-african-currencies-compared-to-us-dollar/
You see why our leaders are failures and thieves..no Nigerian leader deserve to ride in a land cruiser or prado jeep...they deserve to trek. Receive medical treatment at their local phc and send their children to the local public school.
Re: Top Ten African Currencies Compared To US Dollar by Joy2dworldxyz: 6:42am On May 12
Zonefree:

What's Ghana doing here? undecided

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.

You are right bro, no matter how porous our economy is, the Nigerian naira is still more valuable than the cedi but those who don't know don't know. Ghana removed about 3 zeros from there currency making it look like it's more valuable but the economy remains what it was.
Re: Top Ten African Currencies Compared To US Dollar by yahmohy27: 6:47am On May 12
Zonefree:

What's Ghana doing here? undecided

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.
With this ,I don't believe naira should not albe among top Africa currency
Re: Top Ten African Currencies Compared To US Dollar by NairaMaster1(m): 6:47am On May 12
brain54:
I am not surprised the north Africans dominate the list...


Personally, I feel anything after the 3rd on the list is poor.

Libya in spite of how dis-stabilised their economy is due to war seems to be doing well!

Our population and the northern corruption, selection of leadership and insecurity are our major challenges. The North has been our problem if not our income is better.
Re: Top Ten African Currencies Compared To US Dollar by yahmohy27: 6:49am On May 12
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.
Gbamm!
Re: Top Ten African Currencies Compared To US Dollar by NairaMaster1(m): 6:51am On May 12
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.

Northern corrupt leaders. Their focus is to loot money and arm their people against the Christians. They would borrow money and loot it. Buhari and his brothers have since burry Nigeria. Tinubu is just conducting the funeral by widening the tax net and slowing down the economy
Re: Top Ten African Currencies Compared To US Dollar by yahmohy27: 6:52am On May 12
Putinofrussia:
Basically,it is mostly the poor masses that spend naira but the elites,foreign missions,govs etc mostly spend dollar.
It has been there for long barely noticed because Nigeria was still sinking bit by bit and because we have had mostly mumu govts in Nigeria who always thought that Nigeria was rich and no matter what they do even negatively,Nigeria will still be rich.
Just like some undiscerning people were saying that if a dog rules Lagos,it will still continue to be rich grin
Some people are so ignorant.

FG should monitor those govs,bank CEOs too closely because they are part of the rot.
Yes sir,I'm sure govt knows this and they are not doing anything about it.Bankers ,Govs etc are the ppl suffering naira
Re: Top Ten African Currencies Compared To US Dollar by yahmohy27: 6:54am On May 12
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.
Yes , you're right ,one of the reasons I don't believe naira is as worse as it been portray up there
Re: Top Ten African Currencies Compared To US Dollar by iLoveYouToo(m): 6:58am On May 12
There’s a grand conspiracy behind this ever rising exchange rate and some people are benefiting from it, steady mopping up every dollar pushed to the market, then hoarding it to dictate the price and supply

Fear the North undecided
Re: Top Ten African Currencies Compared To US Dollar by DeathToRiggers: 7:03am On May 12
See thix agbero, tell thieffnubu to remove 6 zeros na, unscrupulous m
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.
Re: Top Ten African Currencies Compared To US Dollar by tradepunter: 7:12am On May 12
brain54:
I am not surprised the north Africans dominate the list...


Personally, I feel anything after the 3rd on the list is poor.

Libya in spite of how dis-stabilised their economy is due to war seems to be doing well!

Very true
Re: Top Ten African Currencies Compared To US Dollar by Engrr(m): 7:17am On May 12
Zonefree:

What's Ghana doing here? undecided

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.

My dear, that is what I do not understand about the whole exchange rate palava. Naira seems to have stronger purchasing power than most of these currency. I was in Kenya and bought a bottle of beer at 350 shillings which is an equivalent of N3500. But here such beer is 1k max. So the real exchange rate should not be more than 1:3

1 Like

Re: Top Ten African Currencies Compared To US Dollar by Minjim: 7:18am On May 12
Politicians and the rich are those killing the Naira.

Travelling abroad at will and only using foreign things .
Now , our National Assembly and State Assemblies will soon import foreign cars .
And they're wondering why Naira is falling ?
A govt that permits foreign people do business with their own currency in your own country
Re: Top Ten African Currencies Compared To US Dollar by 99thEnemy(m): 7:25am On May 12
Zonefree:

What's Ghana doing here? undecided

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.

Some People don’t know that what matters most about a currency isn’t it’s exchange rate but it’s purchasing power.


Many folks here don’t understand basic economics.
Re: Top Ten African Currencies Compared To US Dollar by franchasofficia: 7:29am On May 12
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.
Kuwait have a very strong economy, one of the richest countries on earth, so say something else.

Tell me which developed country with thriving economy have a currency that have an exchange rate of $1 is to 400 of their own currency?


You boys will come online and be talking rubbish to stylishly defend and justify failed Nigerian leaders from your tribe angry
Re: Top Ten African Currencies Compared To US Dollar by Morphinne: 7:36am On May 12
Islie:


https://thenationonlineng.net/top-ten-african-currencies-compared-to-us-dollar/
Stop using lists like this one as your waypoint for making comparisons between Nigeria and all these countries. I haven’t been to most of those countries but at least I can speak about SA and Ghana. These two countries are only progressing on papers, it’s only when you get there you will know that Nigeria is far better. I’m not making excuses for the bad state of the Nigerian economy and the government but you see that Ghanaian cedi, the Nigerian Naira will give you more value in Nigeria than the Cedis in Ghana.
Don’t believe all these lists, the Naira and Cedis both have the same value in USD. The Ghanaian currency value is fake and you won’t know until you live there. Same with the South African Rand.

1 Like

Re: Top Ten African Currencies Compared To US Dollar by Codes151(m): 7:36am On May 12
Nigeria is one stupid leadership-abused country.


how can small countries be performing well, yet with all our resources we are nothing.. even an island like jamaica...

its obvious there is a fraud in this monetary shit somewhere..
Nigeria needs to wake up..

Our resources and companies and much more than Jamaica and co. so how come their currencies are better?


all our leaders are illiterates..
Re: Top Ten African Currencies Compared To US Dollar by VTJN(m): 7:43am On May 12
helinues:
Na kuku the rain packed both birds and chicken together
ex NPOWER beneficiary hwfar? grin
Re: Top Ten African Currencies Compared To US Dollar by villagereporter(m): 7:48am On May 12
Af0nja:


You know nothing about economics. Then why is Indonesia, south korean, Chinese currencies not strong despite their economy beating that of those on this list hands down
.

Are there not differences in purchasing power and economic stability of a country, why is it tha USA is crying foul when china devalueed it money? Why is it that those countries purchasing power is high, and why is their standard of living is relatively in poles with their economy

Finally, can we say such of the present day Nigeria where everything has fallen short of expectations. Beniniose that come to Nigeria to do business and work as artisans why then are they running away from Nigeria because of this naira wahala?

They will tell you, working as an kekenoò( motorcyclist) in their country is far more beneficial than working in Nigeria.

So please enlightened me on economic indicies in which living condition are based.

1 Like 1 Share

Re: Top Ten African Currencies Compared To US Dollar by Xpol: 7:50am On May 12
Blackfire:
grin


Reality is now setting in



Very soon CFA will bench naira.



How tinubu convinced zombies to vote for him by just shouting emilokan
Very soon? CFA wey don bench naira since how many years ago.
Re: Top Ten African Currencies Compared To US Dollar by ablejesus26(m): 7:56am On May 12
Cooldowntemper:


Ronu on steroids

Won't you praise the cocaine addict?

No for now they focus on crying and wailing Obi,Obi,Obi 😁😁

This guys are not normal most of them are quite low and wey under the food chain,but them still dey Zombie away common sense for same Apc wey be the greatest threat to their survival as Nigerians😁

Zombie ooo Zombie 😁😁

1 Like

Re: Top Ten African Currencies Compared To US Dollar by NothingDoMe: 8:07am On May 12
Zonefree:

What's Ghana doing here? undecided

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.
Correct. Ghana re-dominated the cedis to look like their currency appreciated.
Re: Top Ten African Currencies Compared To US Dollar by DonroxyII: 8:21am On May 12
sonofsteven:
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
to buy 10naira food is not the problem because if you remove two zeroes from N1000 you shall get N10 but You will still put N1000 effort to make N10 grin ...

The economics is that N10 would be difficult to Make because that N10 in Real sense is N1000 grin ....

It's just currency redecimation but the effort(Wahala) is still the same ....

Imagine a laborer work from 8am to 5pm only to receive N20 at the end of the day ... then you use N10 Chop... wetin remain grin ....

The best economy is where Labour are paid More while Cost of Production is Reduced ....

By your economics, You want to be making N1000 but paying the food seller N10 grin ... So How do The Food seller achieve Your Achievements Abi He come dis life come play grin or to be watching Uche Face grin ...

Oga Double Ya Hustle ooo !

2 Likes

Re: Top Ten African Currencies Compared To US Dollar by Beverlyjean(f): 8:46am On May 12
Achoghim:
Your communist proposal isn’t going to take us anywhere. As a capitalist state, people are always going to source for Fx which is used to pay for international transactions. I run a website and I have to pay the web hosting fees in USD

Reason I said electronically.... it should only be sourced for essential goods or services ... Nigerians are purely greedy with the get quick money syndrome.... we end up destroying or economy .... what criminals and politicians do now is move money thru crypto
Re: Top Ten African Currencies Compared To US Dollar by Beverlyjean(f): 8:48am On May 12
jayce232:

You still left the main thing to be writing nonsense, who do Nigeria this kind thing? You are comparing Libya to Nigeria? Are Libya leaders as corrupt as Nigeria leaders?? You people keep looking for every other thing to blame exempting the corrupt leaders who are the main cause of our problems. All these nations with strong currencies don't they have FX & cryptto??

Make I illegal and the politicians will not have any means to move money thru FX or crypto .... Nigeria is a state that's peculiar with get quick syndrome
Re: Top Ten African Currencies Compared To US Dollar by Exousiang01(m): 8:51am On May 12
Zonefree:

What's Ghana doing here? undecided

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.

The topic is about exchange rate.

You arw talking about the purchasing power of the currency, two diff things entirely
Re: Top Ten African Currencies Compared To US Dollar by jimmyvic(m): 8:56am On May 12
Even Cedis wey we bin dey use catch cruise that year don get level pass Naira

E no go better for our corrupt leaders
Re: Top Ten African Currencies Compared To US Dollar by Beverlyjean(f): 8:57am On May 12
Agapeunit:
Pls sis,i really want to understand it better how crypto trading n fx is affecting our currency. Pls i am a novice to all u said,pls help a novice with ur knowledge. Thank u

We have corruption laced in our DNA ... Nigerians are inclined into get rich quick syndrome.... 90% of those that source for FX are not using it for essentials... they buy and hoard it thereby creating scarcity.... in turn it makes it expensive... ( Demand and supply ) ... people are selling their properties just to buy up dollars and wait for it to rise, so to make money ... only in Nigeria do they practice this nonsense... they also use crypto , since crypto is also measured by the value of dollars, and to make that one worse , its untraceable.... Buharis government stile over 100billion dollars and moved most thru crypto .... thereby devaluing the Naira .... if dollars is scarce , it becomes expensive, and why is it scarce ?? People that don't need it for real foreign transactions are buying to keep it to trade and make money ... politicians are rushing it so to move stolen money out of the country .... some organisations and services charge In dollars in Nigeria ,instead of Naira

2 Likes

Re: Top Ten African Currencies Compared To US Dollar by EnkayDezign: 9:05am On May 12
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.

Exactly! And that is also why the naira, even after losing so much value is worth the same value or a little less than South Korea’s currency - the Won - yet, Nigeria’s economy is no where near that of South Korea.
1KRW = 1.0264NGN
South Korea has had no need for currency adjustment it seems.

1 Like

(1) (2) (3) (4) (5) (6) (Reply)

How Much Do I Need To Open A Betting Shop? / Adegoke Olubusi, Bolatito Ovia, Dimeji Sofowora Who Launched Helium Health / Ebeano Supermarket Opens In Canada

(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. 67
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.