pls guys, I'm confused about something, if you save your money in dollars, does your money loose value if naira suddenly appreciates ,if it does ,is there any way to avoid this risk? somebody told me usdt protects your money from this but I don't believe it..

Tekahashi:
pls guys, I'm confused about something, if you save your money in dollars, does your money loose value if naira suddenly appreciates ,if it does ,is there any way to avoid this risk? somebody told me usdt protects your money from this but I don't believe it..

Lol. You can't eat your cake and have it bro.
It's a risk you have to bear. But I doubt if the naira will appreciate anytime soon.

thesicilian:

Lol. You can't eat your cake and have it bro.
It's a risk you have to bear. But I doubt if the naira will appreciate anytime soon.

thanks,thought so too

Tekahashi:
pls guys, I'm confused about something, if you save your money in dollars, does your money loose value if naira suddenly appreciates ,if it does ,is there any way to avoid this risk? somebody told me usdt protects your money from this but I don't believe it..

If you have no immediate need for the money then just change it to dollars and forget it there irrespective of the fluctuations in exchange rate

Dollar is better of course but avoid saving substantially in any currency. Save your money in a means of production as soon as it is substantial. Means of production are assets yielding income however little even if it is five percent per annum. Once you invest in such, your money can not depreciate but beware of real estate for now because of the bogus cost of land once that is settled hopefully soon, real estate will be a safe sector to hide money for anybody