H

Cxxk size of the men

I think scarcity. No enough foreign companies bringing dollar into the country. FG only depends on dangote and oil. Only God can intervene

The value of your exports and the trade balance of your economic transaction as a nation.

How close they're to the Devilish Jewish bankers

Hismasterpiece:


so doing business in Nigeria isn't easy? how do you mean?

how does insecurity affect the country's currency value

doesn't nigeria export oil among other things?

That person has no idea about the topic at all

VeeVeeMyLuv:
It is not that Dollar is going up

Instead it is your naira that is diving downwards.

@ topic

1. Fisical responsibility and accountability.
2. The level of greed & corruption.
3. Human rights law.
4. Foi.
5. Ease of doing business
6. Level of insecurity
7. Amount of export to import.

I think these points are sufficient

You ended up saying Nothing

I think what Op meant is Relative Value of Naira i.e its value when compared with other currencies.

3 things affect the relative value.

1. Supply-Demand width. When more people are willing to buy (Forex hoarding) than willing to sell especially to guard against inflation.
2. External Reserve unstability.
3. Subsidy removal.

We are currently experiencing the first 2.

d foolishness of a president eg that of Nigeria

Foreign direct investment, foreign port folio investment, demand, supply. Gdp is also an indicator of currency strength.

Changes in demand and supply of that currency against other currencies.

The grammatical blunder of the sitting president, imagine what happened after our president speech, naira fall harder

My problem with you is that picture you attached to the post.

Hismasterpiece:
Hello.

Recently i have been hearing about the dollar going up in value.

And this has brought about a hike in the prices of commodities in the market and has also brought about a hike in the cost of living of the average Nigerian.

So things are tough in the country now because of this dollar phenomenon

So i would like to know what determines the value of a country's currency and why the Nigerian Naira appears to constantly reducing in value while that of America keeps going higher and higher.

Anybody with meaningful information is welcome. Thanks.

Just two of that 100 dollar will give u that bundle of naira. One cup of egusi is now 200h!!!

Hismasterpiece:
Hello.

Recently i have been hearing about the dollar going up in value.

And this has brought about a hike in the prices of commodities in the market and has also brought about a hike in the cost of living of the average Nigerian.

So things are tough in the country now because of this dollar phenomenon

So i would like to know what determines the value of a country's currency and why the Nigerian Naira appears to constantly reducing in value while that of America keeps going higher and higher.

Anybody with meaningful information is welcome. Thanks.

When you don't produce anything and depend heavily on imported goods

Using the little forex you generate through the sale of monoproduct (crude oil) to import foreign good quoted in hard currency.

Your external reserve.

Hismasterpiece:


so doing business in Nigeria isn't easy? how do you mean?

how does insecurity affect the country's currency value

doesn't nigeria export oil among other things?

Nigeria is rated 130 out of 190 countries for ease of doing business.

Do you live in the same Nigeria as the rest of us?

Hismasterpiece:


so the reason for our currency devaluation is because we don't export anything besides oil? But what about UAE? Isn't it the money they make from oil that's the reason their country is the way it is?

Tourism and visitation too.

Hismasterpiece:


so doing business in Nigeria isn't easy? how do you mean?

how does insecurity affect the country's currency value

doesn't nigeria export oil among other things?

Don’t just ridicule yourself, oil is outdated and apart from that what else do Nigeria export??

And don’t tell me you haven’t heard of financial insecurity??
And besides CBN keeps making new policies affecting the country every now and then. Don’t just be quick to reply , always think

UAE produce virtually everything they use, thereby reducing their level of importation compare to exportation.
Here, productivity is the key, Nigeria is a consuming country, we don't produce, yes, we don't produce.

so the reason for our currency devaluation is because we don't export anything besides oil? But what about UAE? Isn't it the money they make from oil that's the reason their country is the way it is?[/quote]

SporaD8:
Gross Domestic Product, Balance of Payment and Foreign Reserve.

God bless you

Many people don't understand the effect of exchange rate speculation on the price of goods and services in this country. See below

Assuming you buy and sell phones, the phones are all foreign manufactured phone; by implication, you need to convert your hard earned Naira to the foreign currency e.g. dollar. Assuming you invested 20 million naira and this was when 1 dollar is being exchanged for 300 naira. This implies that your 20 million naira when converted to dollar is 66,667 dollars.

Your goods arrived and you decided to sell them within the possible shortest period so that you can re-stock. While waiting for buyers, you started hearing that one dollar is now 400 naira or 500 and so on. As a business man that does not want to run out of business, what will you do?

As business man, you will definitely increase the price of your old stock. If you failed to do this, the 20 million naira you invested will not be able to purchase the quantity of phones you had initially bought when the exchange rate was 300.

As a business man, you have done the right thing to protect your investment but this action will have effect on the purchasing power of the consumer.

That is how the trend will continue because the consumer too will increase their own price of whatever goods or services they are offering so that they can be able to get what they need.

This is inflation and the only solution is that we patronize our own products and services else we will continue to cry while we enrich foreign economy.

Why does this administration keep making policies that makes d masses suffer?

Where are those that nipped problems in d bud during d 80s and 70s? Where are the kadunas of today?

Hismasterpiece:
Hello.

Recently i have been hearing about the dollar going up in value.

And this has brought about a hike in the prices of commodities in the market and has also brought about a hike in the cost of living of the average Nigerian.

So things are tough in the country now because of this dollar phenomenon

So i would like to know what determines the value of a country's currency and why the Nigerian Naira appears to constantly reducing in value while that of America keeps going higher and higher.

Anybody with meaningful information is welcome. Thanks.

UAE produce virtually everything they use, thereby reducing their level of importation compare to exportation.
Here, productivity is the key, Nigeria is a consuming country, we don't produce, yes, we don't produce.

That's when you have an illiterate as your President....

olalekan1:
Many people don't understand the effect of exchange rate speculation on the price of goods and services in this country. See below

Assuming you buy and sell phones, the phones are all foreign manufactured phone; by implication, you need to convert your hard earned Naira to the foreign currency e.g. dollar. Assuming you invested 20 million naira and this was when 1 dollar is being exchanged for 300 naira. This implies that your 20 million naira when converted to dollar is 66,667 dollars.

Your goods arrived and you decided to sell them within the possible shortest period so that you can re-stock. While waiting for buyers, you started hearing that one dollar is now 400 naira or 500 and so on. As a business man that does not want to run out of business, what will you do?

As business man, you will definitely increase the price of your old stock. If you failed to do this, the 20 million naira you invested will not be able to purchase the quantity of phones you had initially bought when the exchange rate was 300.

As a business man, you have done the right thing to protect your investment but this action will have effect on the purchasing power of the consumer.

That is how the trend will continue because the consumer too will increase their own price of whatever goods or services they are offering so that they can be able to get what they need.

This is inflation and the only solution is that we patronize our own products and services else we will continue to cry while we enrich foreign economy.

Are your products sufficient?

you've said it all

SUPERPACK:
Export, import, demand, supply.

Export, Import, Demand and Supply, Foreign Direct Investment, Foreign Reserve, Unemployment rate

The dollar is not going up, it’s actually going down as the USA is dealing with inflation caused by COVID and excess dollar printing for stimulus relief funds. But the Naira is going down even worse than the dollar so you don’t notice the dollars downtrend.

In fact, I pray for a stable Naira more than a upward moving Naira because the latter is a mathematical impossiblility

Higher interest rates in a country increase the value of that country's currency relative to nations offering lower interest rates.

Political and economic stability and the demand for a country's goods and services are also prime factors in currency valuation.

Trade deficits and imbalances.

Selfish desire of our leaders is taking Nigeria down, not anything