₦airaland Forum

I have reasons to believe you actually meant Palestine

KingAzubuike:
There's a reason Pakistanis and Israelis are some of the most intelligent people in the world.

They have Obaseki and one ward chairman to thank for all of this. I only wish Obaseki had gotten the ticket on APC platform.

Great guy

invariably, $1 = $100+ (106.80yen)
It may interest you to also not that the value has largely been like that since 1986

Theconglomerate:
100USD I meant.
Typo

What does that mean sir?

DexterousOne:
Two decimal points

Please explain the bolded because the very next image you put out there says 106 yen.

Theconglomerate:
Of course,very weak.
1 USD=10K+ Yen...

If you had even said this bolded, I for non get the headace when you give me by saying the weakest in the world. If you say, it is the weakest among the 8 majors, no wahala but in the world was too much for me to handle.

Next time try and be very clear for some of us wen go night skool, e de take us sometime to understand big grammar.

DexterousOne:
In the basket of 8
JPY is the weakest (nominally)


The USD, EUR, GBP CHF CAD AUD and the last one ALL exchange more than the JPY


I have been trying to say this

They are not reading to get me

All these things you listed here are some of the strengths that I know JPY has, so that is why I am curious to know how it is one of the weakest in the world.
It is not as strong as the USD I know but how is it one of the weakest in the world is my own personal concern. Canadian dollar is not as strong as the USD yet you cannot claim it to be a weak currency.

Theconglomerate:
A japanese can live in Japan without ever seeing or knowing the price of dollars and will be very comfortable till kingdom come.
If USD varnishes today maybe because somehow Taliban manages to bomb the entire USA,the japanese wouldn't even notice because they can get almost all they want locally,with or without dollars.
Their currency might be triple digits when compared with USD,but what matters is what it can buy without an intermediary currency playing a part in the littlest process to sell that produce.

Maybe I really do not get it and I am not ashamed to ask,
1) What parameters was used by you in saying Jpy is one of the weakest in the world?
2) What are the first 5 based on (1) and last (5)
3) Where does a Country like Lebanon stand in this regards?

DexterousOne:
Thank you very much


Someone that gets it

The point I am making is that, it is considered in the same league as USD, Euro, Pounds. JPY is no where close to being one of the weakest in the world, that I am sure of.

Theconglomerate:
You peg a currency to another not because of nominal strength but rather purchase option(what you can buy from there,ie a country that has everything you might need) from that economy.
Kuwait dinar is so strong no doubt,but who have you seen pegging its currency with theirs?
So having currencies pegged to yours doesn't necessarily mean nominal strength.
Japanese yen is weak no doubt but it is very valuable.
Nominal value for money doesn't matter at all.
There will come a time when shithole countries like Ghana,Cameroon,Tchad,Benin and Togo will all have their reserves in naira,whether they are stronger than naira nominally or not.
That is,they will prefer to have naira than dollars,reason I am against this ECO nonsense they are trying to do.
It is at Nigeria's disadvantage and they'll turn Nigeria to a dumping ground if we dare accept a unifying currency with our infrastructure lack.
Just wait and see

I do not do forex trade but I believe that jpy is one of the 8 major currencies that they pair during trade.
I swear this is the first time ever I have heard that the Japanese currency being one of the weakest in the world. I suspect he meant something else abeg. Japan?? in a continent that has Lebanon, Afganistan, Pakistan?

GonFreecss1:
And if I told you JPY is the 4th strongest currency in the world, below CNY, USD and EUR, with GBP at number 5, and KRW at number 6, how would that make you feel?

I like how you argue, but in this one you lost the plot man.

The rand and one other African currency are the only ones that are above the Naira.

Naira is like 46 in the world. Shocked bah? Lol.

I have this feeling if they had not redenominated the value would have probably been around C46,000 which is a lower percentage increase than the present one.

emmanuelewumi:
Without redenominaion it would have been $1 to 58,000 GHS

That is why sometimes arguments like this in an enlightened way are good, it helps everyone to put things in perspective.
Unfortunately though, Nigeria has a lot of potentials that it is not harnessing.

emmanuelewumi:
Upon the redenominaion, the grass is usually greener at the other side.

To put it in perspective:

13 years ago, C10,000 = $1, using mathematical formula, it was recalculated to get C1 = $1
Now (2020) C5.8 = $1, which true value C58,000 = $1
That is an increase of 480%

Compare that with Nigeria:
13 years ago, NGR120 = $1
Now (2020) NGR420 = $1
which is an increase of 250%

emmanuelewumi:
It is now C5.80 to $1.

Even though it was C1.00 to $1 about 13 years ago.

When the old C10,000 was redenominated to C1

Thanks, I have corrected it.

emmanuelewumi:
It was the CEO of Unilever Nigeria plc, the CEO is a Ghanaian. He was removed early this year and a Filipino is now the CEO of the company

I understand what you are saying, but you have to recognize that his work is not easy. He sometimes has to drive long hours to check cars, review, respond to clients, appeal to the aggrieved, etc. He then has to go back to each of these locations and move these cars to where they get shipped. The process is a continuous one, it will take a toll on his health after a while I assure you.
After that he has to monitor people acting on his behalf in Nigeria.
I was speaking with his best intention in mind. True, it is not easy to please humans.

Knox123:
If e rest small, na una go first raise dust say wetin dey happen... why e no post cars, why e no close deals..

Na wa sha... dem no go fit really please humans..

Our Ghanian brother don show. It is not a Nigeria vs Ghana fight, you just happened to have been in the middle of another argument.
Easy okay?

Noisyrians:
what stops Nigeria from removing zeros from its currency, if it is that simple? I hope next time you go and change money into cedis, you will tell the currency changer to add those zeros to the rate he or she will offer you,huh?

i don't know what all these negative sentiments about Ghana by nigerians is all about. Ghana is better then Nigeria on many scores. is it life expectancy, is it about FID inflows, even inflationary figures? per capita GDP, economic growth? poverty levels? access to health and education? access to electricity? access to health care? corruption index? Ghana leads Nigerian on every single assessment.

even the roads in Ghana are better than the roads in Nigeria. It is not enough to shout Nigeria is better than Ghana. Give us concrete and verifiable reasons to support that.

[s][/s]

@the bolded, is that the case? Did you check the historical decline even after their redenomination against the USD?

pluto09:
Strong is a relative term.
Investors are more interested in the stability of currencies than the nominal value attached.

If Ghana cedi is 1 cedi to a dollar since they removed those zeroes till now,then they must be doing something that Nigeria is not doing with the way our currency has depreciated over time.

I can't even remember anytime that the Nigerian naira had better value than that of Japan. That line completely took me aback.

GonFreecss1:
Bro. JPY is far stronger than those currencies you mentioned. Forget the Ghana vS Nigerian argument here and see what I am trying to enlighten you on.

You said JPY is weaker than... was correcting you.

amdman, na God go bless you.
Try de rest sometimes too. I can imagine the amount of travel you have to do in the vast land of Canada. At this rate, you probably will be living on the road.

May God continue to bless your hustle.

I swear, I also bought into the hype. Now that I think of it rationally, it is like someone visits Abuja in Nigeria and goes back to Gabon and start telling them Nigeria is like heaven. Accra and Kumassi are the major cities there.

NL1960:
Because Ghana artificially removes zeroes from their exchange rate, dem begin hype Ghana all over the place as if Nigeria cannot also remove zeroes from the exchange to make it $1 to 30kobo.

Sir, Japan does not have one of the weakest currency on the planet sir. It is around yen120 to 1USD, definitely not close to been one of the worse in the world.

If you want to compare Nigeria with any African country please use South African, Rwanda or Moroco and perhaps Kenya and some other silent countries in Southern Africa.

Oga Ema mentioned in either this thread or NSEMPA thread that Uniliver moved their production facility from Nigeria to Ghana only for it to coincide with the border closure and they could not sell their products to the extent that the Ghanian CEO was queried, here you are hyping Ghana like say na Dubai.

DexterousOne:
That is not the point

Many Nigerians dont seem to get it

It has nothing to do with currency

And every thing to do with LEADERSHIP ans POLICY.


Japan has one of the WEAKEST currencies on the planet

Its weaker than NGN ZAR and GHS

However, the Japanese GDP is bigger than the whole of africa put together

And USA is owing Japan to the Tune of $1.1 trillion and counting

So its not about currency or adding or removing zeroes.


Nigerians we think we are all that
That has always been our problem

(AND AMERICANS ALSO HAVE THIS ISSUE)


Nigeria is making its strides

OTHERS ARE MAKING THEIR OWN STRIDES TOO

Which joke?
One of the ones I remember off my hat was when I heard a speaker say something like, "when Ghana hopes to get a big brand like Glo, fully national company playing across the sub terrain"

Nigeria is not edorado but it is definitely not a write off

DexterousOne:
This is a joke right?


Hahahahahahaha

Na so una de hype Ghana over the years that many of us began to think Nigeria was so so useless, only for PMB to close the border and the whole of West, East and part of Northern African began to feel the heat.

I watch some Ghanian stations sometimes, you need to see how they sometime blast their leaders and telling them to take a cue from Nigeria and here we are pretending they are better than us.

Many of their economic indexes are Audio.

DexterousOne:
Hope you know that exportation is almost hassle free in Ghana

Good question, time to put your money where your mouth is.

emmanuelewumi:
If you have the $250k and asked to invest in either Nigeria or Ghana, where will you choose?

I prefer the Chinese counterpart loans that are tied to projects.

GonFreecss1:
The loans are quite cheap though. They are not up to 1% interest I think.

Still we need to be careful.

I need epever display for configuration or the bluetooth app.

Point noted.
It now becomes easier to follow your position once I can separate when you are talking forex (devaluation) and naira (inflation).
Thanks
[quote author=ahiboilandgas post=91015735][/quote]

ahiboilandgas:
..

If I follow your argument correctly, then these changes mostly affect the FPIs and those who converted their forex into Naira to do fixed term investments in Nigeria and not necessarily those who were already operating in Naira, am I right?

Looks like they have banned oga Ema again.

Are you the Olaboide that has been lifting out content and turning them into your personal tweets?

Olaide1295:
The Chinese person is not a manufacturer but is able to source anything from China and export on credit.

Their government is giving a tax incentive for exporters and he just moved to Wuhan free trade zone

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