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Friday, 24 October 2014

WORLD NEWS:List of world Currencies Nigeria Naira Is Bigger Than

The naira was introduced on 1 January 1973, replacing the pound at a rate of 2 naira = 1 pound.This made Nigeria the last country to abandon the £sd currency system. There was a plan to redenominate the naira at 1 new naira = 100 old naira in 2008, but the plan has been suspended. The currency sign is U+20A6 ₦ NAIRA SIGN. Rampant inflation has occurred in Nigeria over the existence of naira. The Central Bank of Nigeria claimed that they attempted to control the annual inflation rate below 10%. In 2011, CBN increased key interest rate for 6 times,
rising from 6.25% to 12%. On 31 January 2012, CBN decided to maintain the key interest rate at 12%, in order to reduce the impact of inflation due to reduction in fuel subsidies.
Even if USA, and British currencies continue to beat Naira in value, Naira has value over some other currencies and they include the following:

*Armenian Dram (Armenia) 1Naira = 2.47 AMD

* Burundian Franc (Burundi) 1Naira = 9.38 BIF

* Belarusian Ruble (Belarus) 1Naira = 64.54 BYR

*Central African Franc 1Naira = 3.13 XAF

* Congolese Franc (Congo) 1Naira = 5.58 CDF

* Chilean Peso (Chile) 1Naira = 3.53 CLP

* Colombian Peso (Colombia) 1Naira = 12.38 COP

* Costa Rican Colon (Costa Rica)1Naira = 3.27 CRC

*Djiboutian Franc (Djibouti) 1Naira = 1.10 DJF

*Guinean Franc(Guinea Conakry) 1Naira = 42.31 GNF

*Guyanese Dollar(Guyana) 1Naira = 1.26 GYD

* Hungarian Forint (Hungary) 1Naira = 1.47 HUF

* Indonesian Rupiah (Indonesia) 1Naira = 72.82 IDR

* Iraqi Dinar (Iraq) 1Naira = 7.02 IQD

*Iranian Rial (Iran) 1Naira = 161.32 IRR

*Cambodian Riel (Cambodia) 1Naira = 24.70 KHF

* Comoros Franc (Comoros Island) 1Naira = 2.35 KMF

*Kazakhstani Tenge (Kazakhstan) 1Naira = 1.09 KZT

* Laotian Kip (Laos) 1Naira = 48.48 LAK

*Lebanese Pound (Lebanon) 1Naira = 9.13 LBP

*Malagasy Ariary(Madagascar) 1Naira = 16.35 MGA

* Burmese Kyat (Burma) 1Naira = 6.04 MMK

*Mongolian Tughik (Mongolia) 1Naira = 11.19 MNT

*Mauritanian Ouguiya (Mauritania) 1Naira = 1.76 MRO

*Malawian Kwacha (Malawi) 1Naira = 2.75 MWK

*Paraguayan Guarani (Paraguay) 1Naira = 27.86 PYG

* Rwandan Franc (Rwanda) 1Naira = 4.16 RWF

*Sao Tomean Dobra (Sao Tome) 1Naira = 117.22 STD

*Sierra Leonean Leone(Sierra Leon) 1Naira = 26.27 SIL

* Somali Shilling (Somalia) 1Naira = 4.71 SOS

* South Korean Won(South Korea) 1Naira = 6.38 KRW

*Tanzanian Shilling(Tanzania) 1Naira = 10.29 TZS

*Ugandan Shilling (Uganda) 1Naira = 16.40 UGX

*Uzbekistani Som (Uzbekistan) 1Naira =14.38 UZS

*Vietnamese Dong (Vietnam) 1Naira =128.48 VND

*West African Franc 1Naira = 3.12 XOF

*Yemeni Rial (Yemen) 1Naira = 1.30 YER

*Zimbabwean Dollar (Zimbabwe) 1Naira = 2.18 ZND


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Nwokwu Miracle and 2 others like this.
Ademola Olusegun
nice one bro
Unlike1Delete1 hour ago
Endy Edeson
@King: what do you mean by rubbish in an informative discussion like this. explain your RUBBISH please
Like2Edit1 hour ago
Prince Adekoya Harzeez Falcon
I tink we are still learning, if the Ghanian can succeed only on Agricultural produce. I tink we Nigerians shld be ashame of ourselve 1 of d largest Oil producing Countries ! Haba
Unlike1Delete51 minutes ago
Emeka Solomon
that's it,
LikeDelete50 minutes ago
Jesse Osayande Vucinic Ehiagwina
While its fact it also doesn't tell the full story or truth. Its misleading. The Cedi might be closer to the naira but in the market its really poor. The dollar might sound like gold but actually is really a money that's worthless cept for the fact its the global reserve, the petrodollar, and the American govt can print without any restraint. Cyprus has a better currency than the US, so does the Kuwaiti money but in real value? Its not much. The naira though has no value anywhere to be truthful. Let's take the ruble for example, its weak compared to the dollar but that doesn't reflect its value. The Russian economy I growing along with infrastructural developments, so is the yuan. The dollar shouldn't be the measuring stick esp considering those facts I mentioned and the fact its a currency of debt.
Unlike2Delete49 minutes ago
Emeka Solomon
But some people don't understand that currency value doesn't determine how rich a country is
Unlike1Delete45 minutes ago
Jesse Osayande Vucinic Ehiagwina
And I will say regarding Ghana. Surface growth isn't real growth. Ghana is in real shit economically and the people are feeling the effects + any nation that goes to IMF for loans or the world bank really is piling more rubbish on herself. Those the orgs are BAD news.
Unlike2Delete44 minutes ago
Endy Edeson
@Jesse: what are the demerits of a country getting loan from IMF or world bank to support its' economy ? lets have your opinion about it
EditedLike1Edit39 minutes ago
Jesse Osayande Vucinic Ehiagwina
@ Endy. Debts, trouble, no real development due to the fact they're giving it to a corrupt govt and they know that yet still give it, the interests are unpayable and puts the country in shitload of debts. The IMF is just out to exploit and ruin small nations.
Unlike2Delete38 minutes ago
Jesse Osayande Vucinic Ehiagwina
For a nation to develop and prosper, it needs to rely much on itself. People will say its unreal and undoable but prospering nations would say its not. Case in point, Russia's growth today has much to do with the fact Putin paid off all her debts owed to these orgs when he came into power in 2000, same with China who have been breaking it, same Brazil, same India, Chavez's Venezuela and to come within our continent, same with Syria, Iran, Libya under Gaddafi paid it off and prospered a lot depending on herself despite sanctions. Note even under Abacha we were not this bad economically despite international sanctions. The west is trouble for any developing nation.
EditedUnlike1Delete22 minutes ago

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