In this post, we highlight the exchange rate of the Naira to other currencies in Africa as it becomes the weakest currency. It is unfortunate because the Naira started really strong even to the USD. I remember 1 Naira was about 2 dollars at a point. Up to the year 1985, the Naira was the equivalent of the Pound Sterling and stronger than the Dollar. Yes, the almighty Dollar.
Here is a list of the other African currencies and their equivalence to the Naira.
South Africa: Rand 1= ₦79
Angola: 1Kwanza = v₦12
Botswana: 1Pula = ₦28
Cape Verde: 1Escudo = ₦8
Algeria: 1Dinar = ₦12
Egypt: 1Pound = ₦35
Eritrea: 1Nakata = ₦18
Ethiopia: 1Birr = ₦19
Ghana: 1Cedi = ₦56
Gambia 1 Dalasi = ₦9
Kenya: 1Shilling = ₦6
Liberia: 1Dinar = ₦8
Lesotho: 1Loti = ₦19
Libya: 1Dinar = ₦156
Morocco: 1Dirham = ₦176
Madagascar: 1Ariary = ₦14
Mauritius: 1Rupee = ₦16
Malawi: 1Kwacha = ₦21
Mozambique: 1Metical = ₦24
Namibia: 1Dollar = ₦32
Seychelles: 1Rupee = ₦22
Sudan: 1Pound = ₦42
Swaziland: 1Lilangeri = ₦19
Tunisia: 1Dinar = ₦150
Zambia: 1Kwacha = ₦28
Even the worst economies of Africa now have more valuable Exchange rate than us.
As at today $1 = ₦480?
€1 = ₦560?
£1 = ₦660?
₦1,000,000.00 is less than $2,100.00…..and some think that we have not reached the breakpoint??
Putin (Russia): Lawyer
Joe Biden (America): Economics degree
Merkel (Germany): PhD Physical Chemistry
Xi Jinping (China): Chemical Engineering and Doctor of Law
Ghanian President: Doctorate holder
Buhari (Nigeria): WAEC not found
Yet, somebody wants a growing economy under this administration – The Buhari Administration. We are just joking. It is time to say Goodbye. if we must tell ourselves the truth, this country cannot be Giant of Africa again. I don’t think it is anymore.
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