Showing posts with label Currency. Show all posts
Showing posts with label Currency. Show all posts

Saturday, 16 July 2016

Naira officially 3rd worst currency in the World.

Naira is officially the 3rd worst currency in the world, having traded 283 to the dollar at the interbank market on Thursday, and  depreciating to 284/$1 to become the third worst performing currency in the world for 2016 ahead of Venezulan bolivar and Suriname dollar.
This year since the Central Bank of Nigeria (CBN) decided to allow a  floating foreign exchange, naira has lost 29.61 percent of its value on the official market.

In Africa the best performers are South African rand, Zambian kwacha, Somali shilling and Botswana Pula, which have gained 8.88 percent, 8.69 percent, 5.54 percent and 4.95 percent respectively.

Saturday, 25 June 2016

What does the world stand to get from Britain's Decision.

For decades UK have made public their possible desire to exit EU, they have made threats about it. And finally it's going to happen.
The exit of UK from EU will mean alot to alot of countries differently, it will also affect them differently. But one thing they will have in common is a redefinition of relationships between Britain and other countries. For Nigeria whom Britain have been giving support political and otherwise especially in the fight against terrorism, it could possibly be renegotiated or even be withdrawn. The British government may now only think of her people. After all her exit from EU means pounds will fall as Investors are seriously thinking of relocation with this possibility that anything can happen on their mind, many would have even changed their account currency, while awaiting for the inevitable. Britain's exit is like a woman bound by prenuptial contract who goes on to instigate a divorce. Nigeria could benefit from the pounds slumb.
But one clear fact is a new policy on foreign relations will have to be redrafted by all parties involved.