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Nairaland Forum / Nairaland / General / Business / See Value Of Naira In The Late 80's (811 Views)
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See Value Of Naira In The Late 80's by noeloge82(m): 9:07pm On Oct 03, 2021 |
This is really surprising to seeing evidences of the power of naira as at old See pic below, its well only time will tell if naira can raise again
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Re: See Value Of Naira In The Late 80's by calberian: 9:12pm On Oct 03, 2021 |
It was even expensive sef |
Re: See Value Of Naira In The Late 80's by noeloge82(m): 4:51pm On Oct 04, 2021 |
calberian: But 40 bags at 1520 means that a bag then costs #38 if it where 380 naira now it would have been 100% inflation but at 3800-4000 now , it seems we are heading to 10000% inflation rate Although I understand where ur saying cos #38 then was not easy but the current inflation compared to then is another thing |
Re: See Value Of Naira In The Late 80's by calberian: 8:36am On Oct 05, 2021 |
noeloge82: In 1989, my primary school went on excursion to Tarkwa Bay, Ogogoro Village and Snake Island. We paid N5 each. I remember because I was one of the last to pay (dad was totally against the thought of his last born travelling on water). Today, at the barest, most conservative minimum, that fee cannot be less than N2k per child. When you extrapolate, this would translate to a bag of cement going for a minimum of N15k today. Of course , we’d have to adjust for inflation but that’s what it is when you only extrapolate. |
Re: See Value Of Naira In The Late 80's by noeloge82(m): 5:23am On Oct 06, 2021 |
Only time will tell if we hit 1000 to one dollar then the remaining value will be gone already |
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