₦airaland Forum

Blaze14k:
Can someone please help me explain this exchange rate. If 1 dollar is equivalent to 18.84 south african rand and 1 dollar is equivalent to 789.50 naira. How is it possible that 1 south Africa rand is equivalent to 41.87 naira? If the naira is as low as 41.87 to rand, it shouldn't be so high(789.50) against the dollar since the rand is 18.84 to 1 dollar. Even if the naira is being devalued it should also reflect on other currencies. Please someone with a better understanding should explain.

Mynd44:
41.87x18.84 is 788.83.

Simple arithmetic

Blaze14k:
Why is the economy so terrible while other countries even Ghana is doing very well against the dollar. Isn't it shameful cos I don't understand how the naira is doing so bad and we are called giant of Africa it doesn't make any sense.

Blaze14k:
Why is the economy so terrible while other countries even Ghana is doing very well against the dollar. Isn't it shameful cos I don't understand how the naira is doing so bad and we are called giant of Africa it doesn't make any sense.

nairalanda1:


Ghana is doing well against the dollar...

Joke of the century.....

for jols sake...one dollar is equal to 1228 South Korean won. Is South Korea worse than Ghana, or even Nigeria?

If we take your analogy too far, we would be saying that Nigerian economy and Ghana economy better pass South Korea (lol)

That's not how economics works. That a country has a currency that is 'stronk' does not mean it's economy is doing well.

P.S Add two zeros to anything in cedis...and you may get an idea.

nairalanda1:


Ghana is doing well against the dollar...

Joke of the century.....

for jols sake...one dollar is equal to 1228 South Korean won. Is South Korea worse than Ghana, or even Nigeria?
You can’t use South Korea as an example they devalue their currency on purpose, fyi they are a manufacturing and highly industrialized economy and devaluing their currency would favor them because it means they can dump their cheap Kia and other products in Nigeria in exchange for usd, unlike Nigeria we don’t manufacture neither are we industrialized , our currency doesn’t need all this imf advice on devaluation or floating we should have pegged it at 350 to usd.

If we take your analogy too far, we would be saying that Nigerian economy and Ghana economy better pass South Korea (lol)

That's not how economics works. That a country has a currency that is 'stronk' does not mean it's economy is doing well.

P.S Add two zeros to anything in cedis...and you may get an idea.

jaytimeo:
You can’t use South Korea as an example they devalue their currency on purpose, fyi they are a manufacturing and highly industrialized economy and devaluing their currency would favor them because it means they can dump their cheap Kia and other products in Nigeria in exchange for usd, unlike Nigeria we don’t manufacture neither are we industrialized , our currency doesn’t need all this imf advice on devaluation or floating we should have pegged it at 350 to usd

nairalanda1:
You also cannot say that Ghana is better than Nigeria. Ghana is broke, has issues, and is on the verge of a bailout from IMF.

nairalanda1:


Ghana is doing well against the dollar...

Joke of the century.....

for jols sake...one dollar is equal to 1228 South Korean won. Is South Korea worse than Ghana, or even Nigeria?

If we take your analogy too far, we would be saying that Nigerian economy and Ghana economy better pass South Korea (lol)

That's not how economics works. That a country has a currency that is 'stronk' does not mean it's economy is doing well.

P.S Add two zeros to anything in cedis...and you may get an idea.

Mynd44:
41.87x18.84 is 788.83.

Simple arithmetic

VeeVeeMyLuv:
My brother the matter tire me. This naija is truly ruled by beasts. 😡

The minimum wage of South korea has been set at 9,860 won (US$7.80), resulting in a monthly salary of nearly 2.07 million won (US$1,638) for employees.

And This south Korea does not have the gawd forsaken crude oil that made Nigeria fight bloody civil war o..

VeeVeeMyLuv:
My brother the matter tire me. This naija is truly ruled by beasts. 😡

The minimum wage of South korea has been set at 9,860 won (US$7.80), resulting in a monthly salary of nearly 2.07 million won (US$1,638) for employees.

And This south Korea does not have the gawd forsaken crude oil that made Nigeria fight bloody civil war o..

tsdarkside:
ehn....??

what....
you have to explain that arithmetic....

why are you multiplyin rand with rand....

41.87 is rand,18.84 is rand too....

....

nairalanda1:


Ghana is doing well against the dollar...

Joke of the century.....

for jols sake...one dollar is equal to 1228 South Korean won. Is South Korea worse than Ghana, or even Nigeria?

If we take your analogy too far, we would be saying that Nigerian economy and Ghana economy better pass South Korea (lol)

That's not how economics works. That a country has a currency that is 'stronk' does not mean it's economy is doing well.

P.S Add two zeros to anything in cedis...and you may get an idea.

Blaze14k:
Why is the economy so terrible while other countries even Ghana is doing very well against the dollar. Isn't it shameful cos I don't understand how the naira is doing so bad and we are called giant of Africa it doesn't make any sense.

Mynd44:
It isn't my fault you and the OP Skipped maths classes in school

Blaze14k:
Can someone please help me explain this exchange rate. If 1 dollar is equivalent to 18.84 south african rand and 1 dollar is equivalent to 789.50 naira. How is it possible that 1 south Africa rand is equivalent to 41.87 naira? If the naira is as low as 41.87 to rand, it shouldn't be so high(789.50) against the dollar since the rand is 18.84 to 1 dollar. Even if the naira is being devalued it should also reflect on other currencies. Please someone with a better understanding should explain.