Befor going to any country I try to get as much information about that country. I just checked the exchange rate of Cedi to Naira and it was going for N73.65 for the cedi, I remeber back in the day the naira use to be way over the cedi, what happened? How did Ghana got here? What are the immediate effect in the market? Does it mean one will have to pay more naira equivalent for an item that could be cheaper in Nigeria? A fine explaination will be really appreciated

martyns303: Befor going to any country I try to get as much information about that country. I just checked the exchange rate of Cedi to Naira and it was going for N73.65 for the cedi, I remeber back in the day the naira use to be way over the cedi, what happened? How did Ghana got here? What are the immediate effect in the market? Does it mean one will have to pay more naira equivalent for an item that could be cheaper in Nigeria? A fine explaination will be really appreciated

A very useless thread. your statement 'what happened? How did Ghana got here?' clearly gives you away as someone looking for attention. if you want information about naira and cedi, why not treat it as such? if indeed you wish to buy anything in Ghana,what has exchange rate got to do with anything?

common sense tells you all you need to know is the cost of the item you wish to buy in Ghana. that is the first step. the second step is to do the calculations based on the exchange rate.it is simple, isn't it. instead, you are here talking crap and seeking needles attention.

don't worry, I will be back.

PetroDolla: A very useless thread. your statement 'what happened? How did Ghana got here?' clearly gives you away as someone looking for attention. if you want information about naira and cedi, why not treat it as such? if indeed you wish to buy anything in Ghana,what has exchange rate got to do with anything?

common sense tells you all you need to know is the cost of the item you wish to buy in Ghana. that is the first step. the second step is to do the calculations based on the exchange rate.it is simple, isn't it. instead, you are here talking crap and seeking needles attention.

don't worry, I will be back.

The usual insults by a nairalander, if my choice of words or phrase was wrong please by all means point it out and I'll make the correction. "Got" "get" not sure what ur looking for. I'm simply trying to get info as to how Ghana was able to reform her economy to bring about the current exchange rate and how it affects items in the market. Take SA as a case study, the Rand is going for N15 or so, now a bottle of coke in Nigeria is N60, same coke is going for R10 in SA which is about twice the cost in NIG. Since the Cedi is now higher than the Naira, are items likely to be costly in Ghana compared to NIG? That's what am trying to figure out. Economy is not my area that's why am I, so if u've not got anytin to say, pls behave urself.

@petrodolla. First u said exchange rate has got nothing to do with this, then in ur second step, u said to make calculations based on exchange rate, see how ur contradicting and making a fool of urself? I just checked u out and apparently ur a Ghananian who goes about insulting anybody who mentions Ghana in a thread. Please behave urself.

martyns303:
The usual insults by a nairalander, if my choice of words or phrase was wrong please by all means point it out and I'll make the correction. "Got" "get" not sure what ur looking for. I'm simply trying to get info as to how Ghana was able to reform her economy to bring about the current exchange rate and how it affects items in the market. Take SA as a case study, the Rand is going for N15 or so, now a bottle of coke in Nigeria is N60, same coke is going for R10 in SA which is about twice the cost in NIG. Since the Cedi is now higher than the Naira, are items likely to be costly in Ghana compared to NIG? That's what am trying to figure out. Economy is not my area that's why am I, so if u've not got anytin to say, pls behave urself.

you want to know how Ghana was able to reform her economy or the prices of goods in Ghana? why don't you go to ABC terminus in Lagos and ask those traders who trade between Lagos and Accra? they can explain things better. They can even give you practical advise about exchange rates and prices of goods and far more info that you can possibly get on NL.

So you didn't know every country is trying to improve its economy, and Ghana is no exception? You asked how Ghana was able to reform her economy? are you not a nigerian? while other countries are using the resources to develop their countries, you big men are busy chopping your money,huh? that is the basic explanation.

martyns303: @petrodolla. First u said exchange rate has got nothing to do with this, then in ur second step, u said to make calculations based on exchange rate, see how ur contradicting and making a fool of urself? I just checked u out and apparently ur a Ghananian who goes about insulting anybody who mentions Ghana in a thread. Please behave urself.

hahahahaha Mr.Martyns please behave yourself ooooh. I am sure you don't want me to descend on you,huh? You telling me to behave is an insult,huh? don't let it happen again. Go and sin no more

martyns303: Befor going to any country I try to get as much information about that country. I just checked the exchange rate of Cedi to Naira and it was going for N73.65 for the cedi, I remeber back in the day the naira use to be way over the cedi, what happened? How did Ghana got here? What are the immediate effect in the market? Does it mean one will have to pay more naira equivalent for an item that could be cheaper in Nigeria? A fine explaination will be really appreciated

There was a redenomination of the currency in 2007 where some zeros were knocked off

PetroDolla: hahahahaha Mr.Martyns please behave yourself ooooh. I am sure you don't want me to descend on you,huh? You telling me to behave is an insult,huh? don't let it happen again. Go and sin no more

Its obvious ur just a bark dog looking for an avenue to demostrate ur barking, I won't stoop so low with u. Now stop quoting me and let reasonable minds communicate, and like I'll say, behave urself.

Legonviking:





There was a redenomination of the currency in 2007 where some zeros were knocked off

Oh! I see, so 100 cedis becomes say 10 cedis but the 10 cedis still have the same original value 100 cedis, right?

The Ghanaian economy is improving a lot the last couple of years.
So its expected their currency would be more valuable than the Nigerian Naira.

martyns303:
Oh! I see, so 100 cedis becomes say 10 cedis but the 10 cedis still have the same original value 100 cedis, right?

The new cedi has the same value as the old.1000 cedis became 1 cedi in july 2007

instaforex ngr: The Ghanaian economy is improving a lot the last couple of years.
So its expected their currency would be more valuable than the Nigerian Naira.

I've been briefed on that, and the recent discovery of oil has pushed their economy even further, I am most likely going to be assigned there soon, payments are made locally (NIG), so am trying to avoid a situation where say ur paid N300,000 which seems a lot, but in the host country may not seem much since their currency is higher, like in SA that will be less than R15,000 or $2,000 in the US. But if ur going to a country where the Naira stands a chance u can be able to do much with little.