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Nairaland Forum / Nairaland / General / Business / Naira Is "World's Best Performing Currency" In April - Bloomberg (36751 Views)
Nigeria's Naira Reverses Back As World's Worst Performing Currency — Bloomberg / Russia's Ruble Is the World's Best Performing Currency / Why The Naira Is Now Gaining Against The Dollar (2) (3) (4)
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Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by CaptainGo: 7:21pm On Apr 12 |
LegendHero: |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by worksmart(m): 7:25pm On Apr 12 |
From the worst performing in the world to the best performing currency in just over a week tells me it is being manipulated to deceive us and cannot be sustainable. |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by yinkeys(m): 7:27pm On Apr 12 |
Lol it was 500 naira a year ago Tumbled to over 1500 and just retracing to 1100 naira Lol |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Ibrahim79mantu: 7:30pm On Apr 12 |
Ofunaofu:Apt |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by airsaylongcome: 7:33pm On Apr 12 |
predictor1: Lol! You completely lost your mind. The highest dollar ever got to under PDP was 216. The highest dollar got to under your jagaban was 1900. Do the math. Don't forget that 216 was without any government intervention and with a massive SWF. Your current (government manipulated) 1100 is still a 362% hike on 216 that you all screamed about in 2015. 1 Like |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Kukutenla: 7:33pm On Apr 12 |
predictor1:There's nothing like percentage increase. Is 28 to 216 an increase in value or a decrease in value in terms of exchange rate valuation? What you're discussing is currency depreciation. It's an accounting as well as economic term with mathematical definition. That you're unaware of that is based on your poor education. Depreciation as the name implies comes with a negative sign. But rate of Depreciation is always a percentage at which you ignore the negative. Or have you ever heard of negative percentage? Stop advertising your poor education and hiding behind insults. Insults don't make you look more intelligent. |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by bal4real: 7:34pm On Apr 12 |
predictor1: I asked u simple questions, u r just beating around the bush. How did GEJ make Buhari incompetent? Were they in the same party when they were contesting? Pls explain to us how your Agbodorian master's policy is giving Nigeria a lifeline? One that hurriedly removed subsidies, thereby crashing the economy, is gradually defending the naira, is that a lifeline to you? Putting the cat b4 the horse |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by tegrianonigltd(m): 7:34pm On Apr 12 |
predictor1: Read about Lee of Singapore and how he transformed, what happened, how he is celebrated even in death. |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Goodlady(f): 7:34pm On Apr 12 |
LegendHero:Stop drooling spit. See facts below: Abdul-Aziz Na'ibi Abubakar on X: "Dollar-Naira Exchange Rate from ... https://twitter.com/jrnaib2/status/1762127178450288784?lang=en See screenshot attached.
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Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by GeneralDae: 7:37pm On Apr 12 |
worksmart:What if it was manipulated to become the world’s worst currency then and it’s now retracing but with added fire? |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Myer(m): 7:39pm On Apr 12 |
Lizzysamuel:Perhaps you should divide 216/28 to put the percentage in context. |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Kukutenla: 7:40pm On Apr 12 |
LegendHero:As a student of engineering, you should be aware that mathematical tools are usually employed to describe physical quantities and relationships between them. Calculus is a mathematical tool just as depreciation rate is. That you're using "folds" instead of "rate" reflects poorly on you as a masters degree holder in engineering. You should be familiar with certain terms and use them appropriately. You used arithmetic in describing your calculations first let me remind you. I'm shocked you're even trying to run away from the mathematics now. All those other things you're trying to bring in show you're not conversant with the topic. Depreciation is what you were discussing when you brought in arithmetic but you used a fraudulent rate which is why I corrected you by giving you the formula for depreciation. If you want to bring in those other irrelevant factors into it, you're free to as long as you get the maths correct! 1 Like |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by michoim(m): 7:41pm On Apr 12 |
Ofunaofu:You can say that again |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by kikake: 7:41pm On Apr 12 |
Ofunaofu: It should have become less than N60 to a Dollar going by APC's Buhari's campaign promise in 2015 to make N1=$1, before this Bloomberg's assertion can be taken serious. |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by michoim(m): 7:42pm On Apr 12 |
MadamExcellency:Thank you, madam Excellency |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by LegendHero(m): 7:42pm On Apr 12 |
Goodlady: And you pass through school. So if they ask you to bring a reputable source from school, na one PDP guy tweet go be your source ? Below is my own source. It’s the official USA government website report on ways and means. https://1997-2001.state.gov/issues/economic/trade_reports/africa98/nigeria98.html 1 Like
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Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Abbeytoy(m): 7:43pm On Apr 12 |
Even if the dollar is equivalent to a naira, some people will still complain. |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by kikake: 7:45pm On Apr 12 |
LegendHero: PDP was voted out for APC to come in to better any bad situation inflicted upon Nigeria by PDP. APC inflicted worse situation instead |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by GeneralDae: 7:45pm On Apr 12 |
Goodlady:This is black market. Official rate was 22 naira. 1 Like |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by azikiweironsi(m): 7:49pm On Apr 12 |
Ofunaofu: Why not ask your Messiah Obi to reverse it. Continue to show your ignorance on social media. Perhaps the world is static and I'm sure you may be asked to reverse your height and weight to that period because you are static. Looks you lack basic economics and I'm sure you must be a dropout student. |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by predictor1: 7:52pm On Apr 12 |
airsaylongcome:Now I know you are a lunatic. #216 without government intervention. 1 Like |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by predictor1: 7:56pm On Apr 12 |
Kukutenla:So your rate of depreciation which is a percentage with the sign ignored gave a value where naira depreciated at less than 1% in 16 years. You are worse than an illiterate. You should seek for a refund from the village schools you attended. 1 Like 1 Share |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Arielle: 7:57pm On Apr 12 |
Kudos to Mr Cardoso |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Ofunaofu: 7:59pm On Apr 12 |
azikiweironsi: The picture below shows the APC campaign against the PDP in 2015. Though they promised to make it better, I am merely making a modest request that they just take the naira to N216 to a dollar where they met. Is that a difficult thing to ask? Does it warrant all these insults? 1 Like
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Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by predictor1: 8:04pm On Apr 12 |
Ofunaofu:And this is still 2015? Why didn't Jonathan take it back to #28? |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Benwallt(m): 8:07pm On Apr 12 |
This has never happened in Nigeria before. Great jagaban 1 Like |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by airsaylongcome: 8:10pm On Apr 12 |
predictor1: Mention one raid on BDCs or threats to banks to stop (the very legal) USD Cash-backed loans that happened under PDP. Just one, you dumb swine. Let's not factor in loans that APC have looted. Or the "shuttering" of a data agency like AbokiFX and arrests of Finance Executives (Binance) in claims of "fighting speculators" |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Kukutenla: 8:11pm On Apr 12 |
predictor1:No dummy. To convert 0.88 to percentage, you multiply by 100 which will give 88%. I've been asking which school you attended because these are basic things anyone with average education should know 1 Like |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Dbegining: 8:14pm On Apr 12 |
predictor1: I don't know anything about foreign reserves? The internet is indeed a leveling ground. Okay. Let me not even go into that. BDC's get dollars from individuals and commercial banks before and they buy at rate negotiated as both parties deem fit. But now the CBN is controlling the black market directly by supplying BDC'S dollar directly. And they're not even supplying by and market force determined rate but at rates they want. So, for the past few weeks they've been supplying at slightly lower rates daily and if you remember, the BDC'S are now strictly regulated by the govt to the extent that the govt tells them the rate to sell. So, yes, the naira is heavily defended. The floating failed. |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by LegendHero(m): 8:16pm On Apr 12 |
Kukutenla: You clearly don’t know what you are talking about. I am on Nairaland, conversing with people from different educational background, why do I need to speak in engineering terms when I can converse in lay man term? No be Nairaland we dey? Abi you think say I dey class? So if we are discussing about why drug abuse is bad, then replying to a doctor mean he will start explaining how it affect the neurotransmitters such as dopamine, serotonins that leads to cognitive impairment. OR I should just say drug abuse is bad. Oga we no dey mathematic class so why do I need to start quoting equation to explain a simple thing? When I told you to bring in other factors too, you see that you’ve been arguing nonsense since right? 1 Like |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by Ofunaofu: 8:18pm On Apr 12 |
predictor1:. Jonathan never used it to campaign or promise to return it to where he met it. APC told us that N216 to a dollar was the worst thing to have ever happened to our naira, and they promised to make it better. We were even told that N1 would equal $1 by the change chanters, only to make it even more worthless. |
Re: Naira Is "World's Best Performing Currency" In April - Bloomberg by predictor1: 8:18pm On Apr 12 |
Kukutenla:You claimed your 0.88 was a percentage. Now you are multiplying the percentage back by 100. Keep hiding behind a finger, you dumb bag of sh.it. You are an idiot. For naira to fall from 216 to 1200 is far far far above 100%! It has lost over 400% of its value. Not 88%. Which polytechnic did you drop out from? |
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