₦airaland Forum

It is just my personal prediction. With the way everything is going greatly expensive I think Nigeria need a 2000 naira denomination currency. What do you think?

Muyogoa:
It is just my personal prediction. With the way everything is going greatly expensive I think Nigeria need a 2000 naira denomination currency. What do you think?

ask google

Muyogoa:
It is just my personal prediction. With the way everything is going greatly expensive I think Nigeria need a 2000 naira denomination currency. What do you think?

I think that your thought is wrong.

Inflation is dropping, he Naira is not fluntuating.

Wont happen based on present stats

Introduction of new currency notes are usually done to increase the portability of transactions. We've not gotten to the point where that is required.

Had the naira rate to dollar gotten to N1000 then a redenomination of the currency would have been ideal in stabilizing its value because that would have been its actual value if not for the CBN artificial support.

Introducing a N2000 note would make no sense rather it would increase inflation but then if CBN believes it helps in reducing the cost of printing and distributing cash round the country, then it will be acceptable.

bigtt76:
Introduction of new currency notes are usually done to increase the portability of transactions. We've not gotten to the point where that is required.

Had the naira rate to dollar gotten to N1000 then a redenomination of the currency would have been ideal in stabilizing its value because that would have been its actual value if not for the CBN artificial support.

Introducing a N2000 note would make no sense rather it would increase inflation but then if CBN believes it helps in reducing the cost of printing and distributing cash round the country, then it will be acceptable.

but mist thubgs below 1000 naira before are now far above it