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Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / Ghana's Currency Slumps To World’s Worst Performer Versus Dollar (59778 Views)
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Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by Nobody: 7:54am On Oct 18, 2022 |
Originalsly: We have no choice because we don't control or set the prices of whatever raw material we sell. Like Nigeria. If we want to earn enough money, we need oil to be at $133 or more per barrel. That is not possible...especially since more and more sources of oil are being developed, which brings down the price well well. So, when prices are too low, we take loans. Wihtout then, we would have had a situation where salaries won't be paid...for 24 months or more... 2 Likes 1 Share |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by Nobody: 7:56am On Oct 18, 2022 |
tishbite41: Because it won't have changed anything. The naira would have still been a weak currency based on the fact that we are not a producer nation, but a consumption oriented and over importer nation. 1 Like 1 Share |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by Obidient4life3: 7:57am On Oct 18, 2022 |
inoki247: Illiterate, everything is hate! Simple question has turned to hate. Ode! |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by DestinyNigga: 7:57am On Oct 18, 2022 |
Una geh natural resources pass us Why we go dey run after una sreamsense: |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by plantainbender(m): 7:58am On Oct 18, 2022 |
Akuffo-Addo is clueless just like za oza room. if you were living in a cave for years and never heard of the cedi and you finally get to visit Accra especially, you would think the dollar is their main currency the way they demand you pay for everything in dollars. in the 1st quarter of this year, the Bank of Ghana had to give an order/circular for businesses to stop demanding dollars in the stead of cedi. 2 Likes |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by ShaqFu: 7:59am On Oct 18, 2022 |
NgeneUkwenu:It is their shame. This people know next to nothing about anything. The only thing they seem good at is making noise on social media. Period. 1 Like |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by D7D8: 7:59am On Oct 18, 2022 |
[where are those Ghanaians,let them come polish my shoe I will pay them in naira not Ghanian cedi. 1 Like |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by Orinechi: 8:03am On Oct 18, 2022 |
[As if u will not swallow if given the opportunity to be in any of the offices.quote author=HIPROFILE post=117652532] A country where animals in government offices swallows money at will? will someone be wrong to call such country a zoo? A country where its leader does not obey the rule of Law? thereby creating room for lawlessness like in a jungle, will someone be wrong to call such country a zoo? Bro lets accept the country is run the worst ways any country should be run not until other people tell us so then we become angry why they should say so. Why didn't you attack the United state when their president referred to the president and leader of your country as lifeless! You are ignorantly running a country aground and some section of the country sees that the way the country is being run, no good will ever come out of it hence fighting and calling for secession. Now see all of you running off to UK and Canada to go continue the branded slavery.[/quote] |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by Eberex(m): 8:05am On Oct 18, 2022 |
[quote author=NgeneUkwenu post=117649162]Just few months back, Ipob vandals were all over the place, praising Ghana and cursing their country. Useless bunch of kanu urine drinkers. [/quote You are an idiot for this statement. How much is naira to dollar today? |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by voltron14: 8:06am On Oct 18, 2022 |
Slynation: Like? |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by Horokrox: 8:19am On Oct 18, 2022 |
kofimoses:Except the Ruble |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by inoki247: 8:24am On Oct 18, 2022 |
Obidient4life3: Carry your cry comot for here since you can't appreciate the country for once no mata aw bad the country is we are still better than some people.... 1 Like |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by sharone21(f): 8:25am On Oct 18, 2022 |
dochenaj: Sometimes, it is easier/ faster to get the N700 to $1 than 12+ cedis to $1 especially in an African country. Let us thank God for Naija, even Ghanaian banks and money markets are smaller than ours.... Most of them are on japa level as things are more pricey with little opportunities to earn. Nigerians alone outside the country can be the foreign investors we so much want in Nigeria if only we have better policies, tax system and integrity. 3 Likes |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by millionboi(m): 8:27am On Oct 18, 2022 |
MoneyMustBMade:add three zero to the cedis 3 Likes |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by Slynation(m): 8:35am On Oct 18, 2022 |
voltron14:like the rampant police killings/harassing young men is on a decline because it now comes with consequences... |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by Nobody: 8:44am On Oct 18, 2022 |
Until African countries learn to take their destinies in their hands this injustice from the western nations will continue. How can you export coca pods in tonnes and get paid by the penny, then later import processed cocoa and pay in billions, not sustainable, the loans they intend to collect from IMF will drive them further into the debt, they will be forced to devalue their currency and sell their national assets for pennies, thats the plan. 1 Like |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by Hanndye: 8:45am On Oct 18, 2022 |
plantainbender:See? And 55 cedi is about 2,469.51 naira, so where would you rather buy your cement? |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by Nobody: 8:49am On Oct 18, 2022 |
quentin06: Therein lies the problem. Mind you, Ghana earns billions in revenue from cocoa. Why it is not that much is because a lot of other nations produce cocoa. (Nigeria included). And if every country has a good cocoa harvest , that can bring down the price globally.(Pirice of cocoa is not determined by Ghana alone...). Only way Ghana can benefit from high prices of cocoa is if Ivory coast (largest producer) and say Nigeria have issues with producing cocoa due to disease, meaning production falls, and prices go up. |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by netmillionaires(m): 8:50am On Oct 18, 2022 |
The cedi didn t remain strong. Ghana simply delete some zeros from its currency some years back. It is just like Nigeria removing two zeros from the naira and saying that naira is now #6.5/$1. Nothing changed. ike007: |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by Simeonjoe1: 8:50am On Oct 18, 2022 |
seunayantokun: That na Mumu analogy. The real analogy is Ghana was at the 10th floor but dropped to -1000th floor below ground level. And you at the 2nd floor above ground. Who has more comparative advantage? Cedis is useless with little purchasing power 1 Like |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by seyimailbox: 8:53am On Oct 18, 2022 |
You are wrong with that analogy. Ghana redenominalised their money in 2007. They dropped four zeros for example if Nigeria decided to make 1000 naira the new one naira note and that same note after many years is still underperforming. World experts know what they are talking about, don't confuse the gullible. If we had not close the border and stopped the importation of rice, we will be right there below Ghana. dochenaj: |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by Nobody: 8:55am On Oct 18, 2022 |
Kasssandra: Do you know how much a 200gram of chocolate bar cost? I think a country like Ghana ought to be able to process its cocoa, they dont need to export it to Sweden to process, thats the point am making, the era of exporting raw materials for African countries is over, they need to process their raw material and export them as finished produce, that's where the real money is. Many African countries are still exporting raw materials, Nigeria exports crude oil, South Africa, rough diamonds, this handicap is systemic if you ask me. 2 Likes 1 Share |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by bitbillionaire: 8:56am On Oct 18, 2022 |
The way every currency of the world is just falling against US Dollars makes me wonder what is behind this US Dollars that's making it so strong and it's value just keep skyrocketing every day! 1 Like |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by Starzo: 8:58am On Oct 18, 2022 |
inoki247: 50cl na 130-150 |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by inoki247: 9:05am On Oct 18, 2022 |
Starzo: Me I'm just trying to inflate it so people no go talk jargons u know say price differs in some states.... |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by Obidient4life3: 9:14am On Oct 18, 2022 |
inoki247: I don't know what you are ranting about? You are better than Ghana? How many Ghanians are coming to Nigeria? |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by Nobody: 9:17am On Oct 18, 2022 |
Ilaje1: Sir, thanks for the analysis. |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by Phckface: 9:27am On Oct 18, 2022 |
Good |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by Nobody: 9:31am On Oct 18, 2022 |
quentin06: During Obj period, you know Nigeria exports Cocoa in high volumes. Ekiti, Osun, Ondo and part of Edo made big business that time. Many Commercial banks opened branches at Ilesa a rural town in Osun State and many people are wondering why there is competition among banks to open their branches. There was Cocoa boom previous years. FG placed partial ban on raw cocoa export and gave loans to companies to process cocoa. Oyibo refused to procure processed cocoa maybe about 20% success. This created problems. Oyibo is the major problem of Africa when it comes to export of processed or packaged items abroad. |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by hkidola00(m): 9:32am On Oct 18, 2022 |
voltron14:are u mad,don't even bring endsars into this...sarz that were killing people at will.. something is wrong with you |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by EroticJane(f): 9:41am On Oct 18, 2022 |
SmartPolician:relocate to south Africa and destroy the innocent country too? anything Nigerians touches, they destroy. after destroying Nigeria, they went to Ghana and destroy them too. now Canada will be next. |
Re: Ghana's Currency Slumps To World’s Worst Performer Versus Dollar by Kylce042(m): 9:42am On Oct 18, 2022 |
NgeneUkwenu: Yet Ghana has better roads, better educational system, better healthcare system and better electricity. All you have here are senseless tribal biased ignoramuses such as yourself drinking your very own urine. Vote wisely do one thing right for once in your miserable life. |
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