Say what now ?

NotProphet:

It's a shame u don't even understand the post🤦‍♂️🤦‍♂️

Teach me how to understand

So why is this news in nairaland?



Make we clap for Egypt for doing to the pound what we also did to the naira ko?

its not about the USD

Its about incompetent governments making bad decision. Afterall there are countries whose currency is stronger than dollars

LegendHero:
Everyone following in Tinubu footsteps.

I think the world need to find a way to move from the dependence on USD for almost everything. Black market won't let them rest too.

Adolfnigeria:
its not about the USD

Its about incompetent governments making bad decision. Afterall there are countries whose currency is stronger than dollars

You mean Egypt made a bad decision? You think they will agree to market forces to dictate price if they have enough FOREX to defend their currency?

No sane government will lose people goodwill if they have another way. If Tinubu have $50bn FX to continually defend the naira, why will he take the unpopular route of devaluing?

Okay so Nigeria is on the right track

LegendHero:


So what is the value Egypt CBN set it to? Abi you dey read another news?

It was develued by 50% or you can't read

DCmonster:
One terrible thing about APC and their supporters is that they always look for means to justify the hardship they keep dumping on Nigerians.
Their supporters are so wicked and wretched that they want all Nigerians to live their impoverished life.
They blame car dealers, market women, traders and anyone for the country Economic and hunger problem but never blame the Government.
If Egypt currency is devalued by 50% which is about 1pounds to 10 dollars it is still far valuable than Naira.

Nairaland is unofficially owned by APC

They were the ones that convinced Egypt sef.

DCmonster:
One terrible thing about APC and their supporters is that they always look for means to justify the hardship they keep dumping on Nigerians.
Their supporters are so wicked and wretched that they want all Nigerians to live their impoverished life.
They blame car dealers, market women, traders and anyone for the country Economic and hunger problem but never blame the Government.
If Egypt currency is devalued by 50% which is about 1pounds to 10 dollars it is still far valuable than Naira.

Nairaland is unofficially owned by APC

Gbam!!!


I have been trying to see how it connected to us. If not for those things u have mentioned


👍

Nigerian government don see reference point and Bayo onanuga don see where to dey hold hand talk henceforth!

Another Floating disaster loading in Egypt

mrvitalis:

It was develued by 50% or you can't read

You are reading the topic bro. When Nigeria did ours too, they called it devaluation.

Read the post content. Stop thinking like a kindergaten.

By tomorrow or next month, the value will change because market forces is now determining it. Nobody pegged any currency.

Why bad things too dey sweet these agbadorians. Always trying to justify their principal's failures with very irrelevant news.

Egypt did what the did deliberately to strengthen their currency against the dollar, they know what they are doing but balablu own na trial and error approach. And idiots go dey praise am. Tueh

4ward4:


Bring forth the way and the world will gladly follow.But so far so good, the USA dollar have gotten a universal acceptance rating.

Yes truly US $ is currently the giant in the room. But as more country get into hardship due to this recurring factor, they will have to improvise and somehow find another way.

LegendHero:
Everyone following in Tinubu footsteps.

I think the world need to find a way to move from the dependence on USD for almost everything. Black market won't let them rest too.

Angola, Rwanda, Burundi etc Have all devalued their currency before Tinubu became president but here u are saying they are following in Tinubu footsteps🤣

Same lies and propagandas continues 😁
God punish u

No be Egypt Obi go learn from before election that year?

U guys will always post in a way to make sure u still abuse and say bad things and demoralize Nigeria even if government give everybody 1Million each 🤔

Jagaban still the best ever because other African countries are now looking for a way to follow it's footstep ..

MagicalConcepts:
Nigeria must be better. Patronize home made products

sukkot:
Say what now ?

50 Egyptian pound to a dollar na im dem dey complain.

Try NGN1600+ to a dollar

LegendHero:
Everyone following in Tinubu footsteps.

I think the world need to find a way to move from the dependence on USD for almost everything. Black market won't let them rest too.

Egypt is everyone?

1 dollar at 450 naira to 1,500 is 50% devaluation? Chai!

No wonder the fake accountant Timlubuu scammed you guys.

LegendHero:
Everyone following in Tinubu footsteps.

I think the world need to find a way to move from the dependence on USD for almost everything. Black market won't let them rest too.

it is official you are worse than a clown. this psychosis you are suffering from ehnnnn

LegendHero:
Everyone following in Tinubu footsteps.

I think the world need to find a way to move from the dependence on USD for almost everything. Black market won't let them rest too.

You evil APC species will be scouting the web for news to safe your miserable failed journey so you can say... "You see, we are not the only"

toprealman:
This is the country Reno is using to justify why Nigeria should be happy Ukraine, a country fighting for survival, is donating grain to them. How can you be feeding on the reserve of a man bleeding and you are happy?

Is Nigeria any better than Egypt??

blamingthedevil:
Egypt 🇪🇬 devalues its pound, loses over 50% against US Dollars

Cash-strapped Egypt allows its currency to fall sharply against the dollar and hikes interest rates

CAIRO (AP) — The Egyptian pound slipped sharply against the dollar on Wednesday after the Central Bank of Egypt raised its main interest rate and said it would allow the currency's exchange rate to be set by market forces.

The measures were meant to combat inflationary waves and attract foreign investment as the country experiences a staggering shortage of foreign currency.

Following the announcement, the pound began floating and within hours lost more than 60% of its value against the dollar. By early afternoon, commercial banks were trading the U.S. currency at more than 50 pounds for $1, up from about 31 pounds for the dollar.

The central bank increased the key interest rate by 600 basis points to 27.75%. The overnight deposit and lending rate were also raised by 600 basis points to 27.25% and 28.25% respectively, the bank said in a statement.




https://uk.news.yahoo.com/cash-strapped-egypt-allows-currency-102832799.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAADz98vjP7qJCBuBxZD3ifOp9jw2vvOGy9AfX_3_Gq_vCzHty8sFpu0BXVpPIm8f8QLaW0JRyu5dcNYKUA4etQ3TBv8KPMfH-th2FBhtBWLTvq-9OjHDF3KAgczTjOit1UXtjRiGfUEIPScnrag4cASrG8oNWwolQvn032-8J3xSV

Egypt depends a lot on tourism which is one of the major ways through which that country generates a lot of hard currencies from the foreign tourists visiting in order to see the Pyramid of Giza and more. With some ongoing global military tensions, folks are minimizing trips to volatile and potentially volatile regions of the world. Gaza shares borders with Egypt as well.

With hyperinflation comes civil unrests globally. No politician or government wants to face that kind of nightmare scenario because it has always led to election loses in the more developed democracies.

Children of hate will avoid this thread

The world follows Tinubueconomics footsteps.


Everything will still be better

All Naira saboteurs should be made to face the wrath of the law

Treadway:
50 Egyptian pound to a dollar na im dem dey complain.

Try NGN1600+ to a dollar

their money spends like the dollar though. Like a t shirt could cost you 20 dollars in Egypt. That’s 40 thousand Naira. So it’s not as simple as you guys try to make it out

LegendHero:


You are reading the topic bro. When Nigeria did ours too, they called it devaluation.

Read the post content. Stop thinking like a kindergaten.

By tomorrow or next month, the value will change because market forces is now determining it. Nobody pegged any currency.

Nah the value won't change that much if it changes it would cause panicking which would cause run away fall of currency like we have in Nigeria

You float by creating a sense of excess supply

Bros which school did you go to ?

The jazz america de use strong sha... I believe it is only Russia that is immuned from the chains america used to hold the rest of the world. I am not sure 90% of Americans know what currency a country like Nigeria or Egypt is using but here, even a market woman knows about dollar.

Yesterday, there was news about Ghana doing something about dollar, now Egypt

DCmonster:
One terrible thing about APC and their supporters is that they always look for means to justify the hardship they keep dumping on Nigerians.
Their supporters are so wicked and wretched that they want all Nigerians to live their impoverished life.
They blame car dealers, market women, traders and anyone for the country Economic and hunger problem but never blame the Government.
If Egypt currency is devalued by 50% which is about 1pounds to 10 dollars it is still far valuable than Naira.

Nairaland is unofficially owned by APC

No kee yourself over nothing, we care less. Emilokan Asiwaju Tinubu has taken a step of floating our currency, the oldest nation in earth Egypt has also followed Tinubu's footsteps and you are now crying in behalf of Egyptians, now tell me, isn't it obvious that you cannot think at the rate which Tinubu is thinking?

LegendHero:
Everyone following in Tinubu footsteps.

I think the world need to find a way to move from the dependence on USD for almost everything. Black market won't let them rest too.

Moving away wont resolve the issue. Countries should try as much as possible to reduce over reliance on foreign goods.

Now, Egypt is copying Cardoso's theorem ...


Partial floating of currency..

Peter Obi said we should copy Egypt models in some aspect...now, it turns out to be the other way round.

Maybe Yemi Cardoso is doing something right for now

MagicalConcepts:
Nigeria must be better. Patronize home made products

home-made products that is supposed to be cheaper and of good quality but it is out of reach because of how expensive it is