₦airaland Forum

Below is a picture of what the exchange rate looks like from 1972 till date.

Which was the price when you were born?

source: https://www.titiloyeblog.com/2019/08/history-of-naira-to-dollar-exchange.html

Wish I can quickly rewind to 1972, convert naira to dollars then forward again to 2019 with my dollars.

Simplyleo:
Wish I can quickly rewind to 1972, convert naira to dollars then forward again to 2019 with my dollars.

...

You are a 'crimira' (in eventuary's voice)

titiloyeblog:
...

You are a 'crimira' (in eventuary's voice)

Wow
Mind u it is 363 only because CBN is artificially propping up the Naira

Simplyleo:
Wish I can quickly rewind to 1972, convert naira to dollars then forward again to 2019 with my dollars.

THIS PERSON MUST BE AN ACCOUNTANT

booked

When things were good.

17 naira to a dollar when I was born. Buhari is the cause everything

buhari

Increase sucks

PROVOKING! But wetin I know sef?

Civilian took over and boom! The Naira starts plummeting.

Why the sudden jump in year 2000?


Abeg make dem quickly introduce ECO money so dat dis exchange rate will go down small

1Eco = $5 .

And still loading

God bless Nigeria

It can only get worse in Nigeria.....Can't wait to see $1 to N1,000

So sad how we mismanaged our economy and messed up our financial system.
Greed and corruption killed us.
Other countries had stable exchange rate for decades. But ours is a pitiable and sorrowful one.
Devaluation never helped us .

All the leaders during these periods should be executed even the dead ones

2015/16 1 Dollar was like 500 (bureau de change)

Buhari has done very well

The point that things began to get worse is glaring.

The sudden change in the exchange rate in 1970 and 80s is not entirely down to what Nigerian government did.

However, it is more of a result of the American government taking control of its currency exchange rate, which is against the rules stipulated by Bretten wood's convention after the world war 11 in 1944.

The rule maintained that all countries should have a fixed exchange rate policy which was tied to the dollars, the dollars itself was then tied to the price of gold.

However, the Americans unilaterally diverged from the rules starting from 1971 because they claimed that the rule was hurting their economy.

Thus, America abopted a more flexible exchange rate based on the principles of demand and supply.

This policy continues to hurt countries like Nigeria who literarily imports almost everything as other developed countries also adopted similar strategy.

Say baba!

Bubu d clueless

We can clearly see his handiwork

Nice one.

Next let's do the value of crude oil,the volume of sales, our foreign reserve and our debt in naira and dollar, during these timelines side by side the exchange rate

Those are the real comparisons that will show the full picture of what happened in nigeria till date

Under our Saint Obi president. The one who never steals, white as snow,our everlasting perfect presido, naira increased two times from 199-300 and 300-363. Na God help us sef,at a time it was 405naira.

With the Chinese currency swap with the Naira, the value of dollar will shrink anytime soon...

orion7:
buhari

Don't forget Buhari was there in 1983 also

When I was young, naira was still above dollar. During my grandmother's time, around 1915, naija money was equal to pounds. God punish every Nigerian leader that helped to destroy our currency

una see the rate at which buhari own dey rise? no joy at all

since when the white men left power to us, the naira have been devaluing stupidly.