₦airaland Forum

Okonandmary:
I came to realize that saving in dollars does not protect store of value especially when there is local inflation

I might save $500 to protect myself against inflation in a da in Gt bank, but what happens when I need that money for local consumption?, I noticed that when converted to naira, the value also decreases because of inflation



how about if I use my $500 to buy something online, with the rate of inflation in the US and other countries, I will have to spend more to get what I want.

i think the best way to protect your dollar is to make it work for you through investment, it is also similar logic for naira. Just saving money destroy it value

Oejozeff:
Hello pls check my latest animation skit on YouTube pls

https://www.youtube.com/watch?v=pv1TG1wUzWE

Synord:
If you haven’t , you need to know NOW .

Naira to dollar rate is increasing everyday :

Saving in dollars to protect yourself against harsh economic conditions is not negotiable .

I have made over 350 dollars saving and investing on this foremost Nigerian app .

I am sure you must have heard of RISEVEST ?

Well If you haven’t , it’s not too late . Quote or mention me If interested so I can explain further

- https://risevest.com/ref/GVED407

CryptoGuide:
Don't get it all wrong, saving in dollars will not get you out of poverty. It has never gotten anyone out.

Investing is what gets you out of poverty.

Kobicove:
The purpose of saving in dollar is not necessarily to get you out of poverty, the objective is to protect the value and purchasing power of your money so it does not become eroded by depreciation of the Naira

Trilz:
Food that I paid for?

emmanueloti65:
how does this work?

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Synord:
If you haven’t , you need to know NOW .

Naira to dollar rate is increasing everyday :

Saving in dollars to protect yourself against harsh economic conditions is not negotiable .

I have made over 350 dollars saving and investing on this foremost Nigerian app .

I am sure you must have heard of RISEVEST ?

Well If you haven’t , it’s not too late . Quote or mention me If interested so I can explain further

- https://risevest.com/ref/GVED407