₦airaland Forum

Before they ruin the value of dollar, they should atleast forebear with me till I have sold the dollars I have been hoarding.

Chiemeka1:
Before they ruin the value of dollar, they should atleast forebear with me till I have sold the dollars I have been hoarding.

They're not after the value of dollar they're after using other currencies to transact so the value of dollar may still be good but US will not be able to print it at will

fxexperts:
Thats the problem with black nations, the US reserve bank doesnot print more currencies more than it actually capacity, as a matter of fact the only print to replace old worn currencies, unlike banks here in Africa and Nigeria and some other corrupt middle east countries, they print money like it is paper and you expect the currency to have value. no way.

By saying that it means you are not well informed, if the print excess dollar not back by any real commodity or services, then there will be excess dollar in circulation and the dollar will loose it value to reflect the worth of products been backed by the dollar in circulation. blacks should try and learn please.

You can dream all you want but that will not happen now or the next decade. BRICS a set of nations who do not trust themselves how can they challenge the west. you all must be joking.

Because the cannot trust themselves and that is the trust, every one of the BRICS nation are greedy and looking for ways to outsmart each other.

Really and you think this will work. So Nigeria or India can go behind and Print more currency note to buy excess goods and resources from the other country, what do you think will happen at the global stage if this happens. I can buy all the goods in your shop just for some pieces of paper, that had no real attachment to any product or services. please just think again before you conclude on this assertion. Do you even know why currencies of countries get depreciated. when you print more than your counties value, without increasing the value or worth of your country, your currency will be sure to tank. I know you all have very short memories. but i know you can still remember when Obaseki was shouting at the top of his voice that Buhari has secretly asked CBN to print more money than required and you lots thought he was just been crazy. the result of that singular act by Buhari is the main reason for the high inflation we are been faced with at the moment.
It will shock you to know that even india companies here in Nigeria refuse to accept contract in Nigeria Naira, because they are scared that one day the may just wake up and your government will just print excess paper Naira to pay them and the currency will become worthless. Your government starting from the era of Buhari refuses to announce when they are printing more new money and they tend to lie a lot of the financial data's hence the reason no government in the world wants anything to do with the Naira. because your financial system lack trust. When the USA decided to print more new dollar in the early 2000 it was publicly announced and even the dollar lost value to some significant value then.

Pele o world Bank adviser.

Looks like Mr eggheads knows nothing about how US manipulates the global financial market with its worthless paper called petrodollar

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Fujiyama:
^^^
Everything depends on trade volumes between the two countries. If trade volumes are sizable then the UAE will definitely have something to use Rupees for...just as India will definitely have something to use Dirhams for.



^^^
Your neighbours aren't necessarily your biggest trading partners. In fact, there are several countries who trade very little with their neighbours. Again...the issue is trade voulmes...if the UAE and India build trade volumes significantly, and trade very little with their neighbours, then what do they need dollars for?

Also...if the UAE accumulates rupee reserves and uses these reserves to buy goods from India, that isn't trade by barter. Trade by barter (by definition) does [b]not involve currency.

Exactly

India exports to the UAE are about 30 billion last year + over 3 million Indians work in UAE sending about 20 billion back to India last year so averagely India generates about 50 billion dollars from UAE every year


India imported goods from the UAE Worth over 50 billion us dollars last year so UAE also generated about 50 billion dollars from India last year

So why do they need a third party currency with that level of trade[ when Indians would always need dirhams to import from UAE and UAE would need rupees to import from India



India exportS to UAE
Refined petroleum (US$8.79 billion in 2022)
Pearls, precious stones, metals, and coins (US$5.58 billion in 2022)
Electrical and electronic equipment (US$3.49 billion in 2022)
Iron and steel (US$1.31 billion in 2022)
Textiles (US$1.26 billion in 2022)
Other major export items include:
Machinery and mechanical appliances
Chemicals
Food items (cereals, sugar, fruits and vegetables, tea, meat, and seafood)
Gems and jewelry
Engineering products
Pharmaceuticals

UAE exports to India/ India import irom the UAE
are: Petroleum and Petroleum Products, Precious Metals, Stones, Gems & Jewellery, Minerals, Chemicals, Wood & Wood Products

cenaman:
see your life fourth world countries

Make I come compare your naira with developed countries own?

Laird:
[/b]

Exactly

India exports to the UAE are about 30 billion last year + over 3 million Indians work in UAE sending about 20 billion back to India last year so averagely [b]India generates about 50 billion dollars from UAE every year


India imported goods from the UAE Worth over 50 billion us dollars last year so UAE also generated about 50 billion dollars from India last year

So why do they need a third party currency with that level of trade[ when Indians would always need dirhams to import from UAE and UAE would need rupees to import from India



India exportS to UAE
Refined petroleum (US$8.79 billion in 2022)
Pearls, precious stones, metals, and coins (US$5.58 billion in 2022)
Electrical and electronic equipment (US$3.49 billion in 2022)
Iron and steel (US$1.31 billion in 2022)
Textiles (US$1.26 billion in 2022)
Other major export items include:
Machinery and mechanical appliances
Chemicals
Food items (cereals, sugar, fruits and vegetables, tea, meat, and seafood)
Gems and jewelry
Engineering products
Pharmaceuticals

UAE exports to India/ India import irom the UAE
are: Petroleum and Petroleum Products, Precious Metals, Stones, Gems & Jewellery, Minerals, Chemicals, Wood & Wood Products

with all these how come India remains the poverty capital of the world

CloudTrees:
with all these how come India remains the poverty capital of the world

In my opinion, India is more advanced than Nigeria and India has very high population so a man earning 1 million with 50 children might not be better off than a man earning 380k with 3 children