Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,152,324 members, 7,815,634 topics. Date: Thursday, 02 May 2024 at 03:42 PM

Top 10 Weakest Currency In Africa (See List) - Business (4) - Nairaland

Nairaland Forum / Nairaland / General / Business / Top 10 Weakest Currency In Africa (See List) (81455 Views)

NDIC Places Properties Of 8 Liquidated Mfbs For Sale (see List) / Nigerian Naira Fast Becoming The Weakest Currency In Africa / Lady Finds Biafran Currency In Her Father's Cupboard (2) (3) (4)

(1) (2) (3) (4) (5) (6) (7) (8) (9) (Reply) (Go Down)

Re: Top 10 Weakest Currency In Africa (See List) by grandstar(m): 9:32pm On Jul 18, 2018
queensera:
2018 List of top 10 weakest currency in Africa has just being revealed. Nigeria currency (Naira) make it to the list as the 9th weakest currency in Africa. While guinea currency (Guinea franc) top the list.

Source:
http://nairaplus.com/2018/07/see-list-of-top-10-weakest-currency-in-africa/


Because a currency is multi digit does not make it weak.

The strength of a currency is determined not by how many digits to the dollar but by its ability to maintain it's value.

This is usually determined by such factors as level of inflation (the higher the level, the higher the propensity to loose value ), the budget deficit, the size current account surplus or deficit (deficits of 3% or more should be a worry) and much more.

It is safer to keep your money in South Korean Won which is a four digit currency than the Naira which is a triple digit currency.

Why? Inflation in South Korea is barely 2% while in Nigeria.it is over 10%.

7 Likes 2 Shares

Re: Top 10 Weakest Currency In Africa (See List) by ebenezerolaiwola(m): 9:32pm On Jul 18, 2018
queensera:
2018 List of top 10 weakest currency in Africa has just being revealed. Nigeria currency (Naira) make it to the list as the 9th weakest currency in Africa. While guinea currency (Guinea franc) top the list.

Source:
http://nairaplus.com/2018/07/see-list-of-top-10-weakest-currency-in-africa/

. what of Zimbabwe currency?

1 Like

Re: Top 10 Weakest Currency In Africa (See List) by Yankee101: 9:33pm On Jul 18, 2018
Na lie. Any list without ZW$ is fake news. They had a single 1 trillion dollar note

1 Like

Re: Top 10 Weakest Currency In Africa (See List) by Lordofthewest(m): 9:35pm On Jul 18, 2018
Pls help us lecture the ignorant ipob pigs on this page the only sentence they understand is" buhari is at fault "
AreaFada2:


Seriously very ignorant my brother. The OP knows little about money and economy.

On the whole CEFA is not weak at all. It has maintained it's value far better over time. I remember using Cefa 20 years ago on a visit to Cotonou.

The Naira was way higher in value. Now the difference is small.

If Nigeria was a good exporting country, with low inflation & relative currency stability, the rate to the dollar wouldn't matter much. Japan deliberately left it's Yen rate as it is.

Before Euro, the Deutschmark supported by a bigger & stronger economy that UK left it's rate to hover around DM3 = £1.

Even the Pound was coupled to DM in the European Exchange Rate Mechanism until almost free fall of the Pound on 16th September 1992. A day called Black Wednesday in British financial history.

The mere exchange rate to dollar doesn't tell even the story.

If at N360 to a dollar, minimum wage is like 125k, economy is stable and booming, there are jobs/job security, low inflation and we have a trade surplus, the current exchange rate would be totally fine.

1 Like

Re: Top 10 Weakest Currency In Africa (See List) by Oritzy: 9:35pm On Jul 18, 2018
OsuMustGo:

Keep fooling yourself.

After they remove 2 zeros
argue constructively with facts...Stop acting childish

Re: Top 10 Weakest Currency In Africa (See List) by chibuzor05(m): 9:36pm On Jul 18, 2018
Who is talking about Ghanian Cedi? The Cedi is among the Top 10 Highest Currency in Africa . Abeg we and Ghana no be mate, gone are those days we laugh over the exchange rate of the Ghanian Cedis. The table has turn.
Re: Top 10 Weakest Currency In Africa (See List) by Strongedition2: 9:37pm On Jul 18, 2018
Danelo:
See as Dollar dey upress our Naira.

wait ooooo so if i go to Guinea with my last 10k i will be a big boy?

#10000 = 3million+ in Guinea.

E no go reach u chop better food for 1 week for there self
Re: Top 10 Weakest Currency In Africa (See List) by Dacronym(m): 9:38pm On Jul 18, 2018
phreakabitoo:


Guinea is the main homeland of the Fulani just so you know.
Thank you I'lld have that in Mind
Re: Top 10 Weakest Currency In Africa (See List) by Oritzy: 9:38pm On Jul 18, 2018
caprini1:
Please can you explain more,because the purchase power of the cedi is almost zero ,compared to the naira.
ok

Re: Top 10 Weakest Currency In Africa (See List) by Akabuking: 9:40pm On Jul 18, 2018
Danelo:
See as Dollar dey upress our Naira.
wait ooooo so if i go to Guinea with my last 10k i will be a big boy?
#10000 = 3million+ in Guinea.
sense will not kill you.

1 Like

Re: Top 10 Weakest Currency In Africa (See List) by yahmohy27: 9:40pm On Jul 18, 2018
karllemah44:
If DAT Zimbabwean currency is not here then dis list is nonsense
Actually the post is targeted at rubbishing Buhari in the face of children who don't know different between right and left

1 Like

Re: Top 10 Weakest Currency In Africa (See List) by Nobody: 9:42pm On Jul 18, 2018
Sorry I own 5 houses already.

OsuMustGo:

Na your future landlord

1 Like

Re: Top 10 Weakest Currency In Africa (See List) by rotmmy(m): 9:43pm On Jul 18, 2018
Corruption giant
Re: Top 10 Weakest Currency In Africa (See List) by Oritzy: 9:43pm On Jul 18, 2018
OsuMustGo:


Lol
How daft are you?
So you believe everything Google pops out for you?
Go back to school and go and study Ghana currency history.
It would do you no good to be rude to anybody and everybody. You like throwing insults without making any point. Well have a safe night.
Re: Top 10 Weakest Currency In Africa (See List) by kosisky(m): 9:44pm On Jul 18, 2018
https://www.exchange-rates.org/currentRates/F/USD

The link above shows rate of exchange of African currencies to 1dollar. You will surprised with our Nigeria Naira
Re: Top 10 Weakest Currency In Africa (See List) by Deltatoto: 9:45pm On Jul 18, 2018
Danelo:
See as Dollar dey upress our Naira.

wait ooooo so if i go to Guinea with my last 10k i will be a big boy?

#10000 = 3million+ in Guinea.
no u won’t bro cos bottle water in guinea is 100k hotel of 5k here I paid 1.3m a night der
Re: Top 10 Weakest Currency In Africa (See List) by legendabiodun(m): 9:49pm On Jul 18, 2018
jibbish:
Whoever composed this list is daft, just because you compare a currency to the dollar doesn't make it weak.
But what do I know, children of Hate will blame it on Buhari
...


bros na u daft (sorry to say dis )..if u don't know somtyn why can't u read nd learn "simple ideology "..
take a luk at Dis - Currencies having a stable exchange rate over a longer period of time are hard currencies #Dollar etc .

While the currencies with fluctuations in their exchange rates are the soft currencies! for example #naira etc" so to me is lyk saying ur currency is useless cos its takes no impact in international trade.

If a countries currency is to be considered hard, things like Dis should be in place-:;
The country needs to have a stable government.

the currency must be able to be bartered and traded all around the world.

Lack of inflation,depression, recession ...
bla bla bla

Due to America’s continued stability in terms of its government,military and societal demands,the American dollar continues to be one of the strongest currencies in the world..

American currency is so stable that it is used world wide for business deals and ventures.....

1 Like

Re: Top 10 Weakest Currency In Africa (See List) by Jethrolite(m): 9:49pm On Jul 18, 2018
cyndy1000:
Even Ghana isn't there
Ghana did decimalisation, their currency was also crap. It is just a cosmetic job. With decimalisation N100 can become N1, at current rate N3:60k will be equal to a dollar, Yar Adua tried doing it but it was rejected by Nigerians.

6 Likes

Re: Top 10 Weakest Currency In Africa (See List) by Nobody: 9:50pm On Jul 18, 2018
AreaFada2:


Seriously very ignorant my brother. The OP knows little about money and economy.

On the whole CEFA is not weak at all. It has maintained it's value far better over time. I remember using Cefa 20 years ago on a visit to Cotonou.

The Naira was way higher in value. Now the difference is small.

If Nigeria was a good exporting country, with low inflation & relative currency stability, the rate to the dollar wouldn't matter much. Japan deliberately left it's Yen rate as it is.

Before Euro, the Deutschmark supported by a bigger & stronger economy that UK left it's rate to hover around DM3 = £1.

Even the Pound was coupled to DM in the European Exchange Rate Mechanism until almost free fall of the Pound on 16th September 1992. A day called Black Wednesday in British financial history.

The mere exchange rate to dollar doesn't tell even the story.

If at N360 to a dollar, minimum wage is like 125k, economy is stable and booming, there are jobs/job security, low inflation and we have a trade surplus, the current exchange rate would be totally fine.

Jobs? That what I'm interested about! Jobs kwa? Like jobs? For where? Do you know that more than 10 million Nigerians have lost their jobs since 2014 and you are talking about job security. For where? Your village? Comon say the truth please. That's how u people keep lying to yourselves and to God!!
Re: Top 10 Weakest Currency In Africa (See List) by ronaldbecky(m): 9:51pm On Jul 18, 2018
dancok:
kind people of nairaland, pls am broke because we are yet to receive salary in ondo state, just help me with 1k or less so i can go to work for the rest of this week, have park my car already cos no money to fuel it, Pls UBA 2040792581
dis 1 na sophicated beggar.u pack motor 4 house dey beg 4 1k..even send out ur acct numb..oga well don.
Re: Top 10 Weakest Currency In Africa (See List) by Danelo(m): 9:52pm On Jul 18, 2018
Strongedition2:


E no go reach u chop better food for 1 week for there self
Lol for real?
Re: Top 10 Weakest Currency In Africa (See List) by chibnnodi: 9:52pm On Jul 18, 2018
Our government has messed up this country. How can we be on this kind of list?
Re: Top 10 Weakest Currency In Africa (See List) by Danelo(m): 9:53pm On Jul 18, 2018
Deltatoto:
no u won’t bro cos bottle water in guinea is 100k hotel of 5k here I paid 1.3m a night der

Re: Top 10 Weakest Currency In Africa (See List) by elninowaxzy(m): 9:54pm On Jul 18, 2018
stefanjaeger:
This is one of the area where Buhari led administration goofed..Adeosun and Emefile messed up our economy with policies that got backfired and they are finding it so tough to redeem till date. As much as I hate to admit it, PDP had a superior economy management team compared to the inexperienced APC team. Naira could not have gone this bad if Buhari had worked with the experience of Okonjo Iweala. Fact everybody had to reckon with is that Okonjo Iweala ain't an overrated economist.
..is not only by currency you can determine the strength of a nation..there are some other country in eruope that Nigeria money as more value than..

1 Like 1 Share

(1) (2) (3) (4) (5) (6) (7) (8) (9) (Reply)

Can 200,000 Naira Start A Good Business In Nigeria? / Inside Tony Ezenna House In Bourdillon, Ikoyi, Lagos (Pictures) / How A White Man Surprised All In The Bank

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 41
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.