- A lady who resides in America was left in shock and disbelief after she realised how much $1000 would yield in naira
- The lady said she was about to send money to a relative living in Nigeria, and she decided to check how much it would be
- She said she was shocked that $1000 would yield nothing less than N1.6 million if she sent it to the relative
An American-based lady shared her views about the present exchange rate of the naira and the US dollar.
In a video she posted on TikTok, the lady said one of her relatives called her and asked for some money.
Ryan says she had to Google the naira and dollar exchange rate. Photo credit: TikTok/Ryanazeh and Getty Images/ rustemgurler and Joseph Egabor.Source: UGC
In her video, Ryan Azeh said the relative wanted to rent a studio apartment which would cost up to N2.1 million.
Ryan then told the relative to scale down and get a more affordable apartment, but her nephew insisted he wanted that one and that he just needed $1000 from her.
Her nephew said $1000 would give him up to N1.6 million, and Ryan was shocked.
That was when Ryan decided to check the exchange rate between the US dollar and the naira.
She found out that her nephew was right, noting that $1000 would be up to at least N1.5 million, according to Google.
Ryan Azeh said she was shocked at the present naira to dollar exchange rate. Photo credit: TikTok/Ryan Azeh and Getty Images/Joseph Egabor.Source: UGC
“He said it was just to be like $1500. He said the conversion rate now is N1650. N1650 for $1? Are you people telling me that with $1000, I will have N1.6 million? And I had to Google it. Google was even generous. Google said $1 is N1535. I would say “God help us” but the problem is not spiritual!”
Ryan, who is from Cameroon, said she cried when $1 hit 580CFA.
Her words:
“I cried when it hit 580 in Cameroon. I was depressed at 600, then I heard this 1650 naira and I said you know what, things CAN ALWAYS BE WORSE!”
Watch the video below:
Reactions as lady reacts to naira and dollar exchange rate
@SoftLandin said:
“Girl 10 years ago, it was 1 to 250 naira.”
@flawlesskinug said:
“2.6million naira in Uganda is 6.5 million Ugandan shillings. I think Africans are all just going through it.”
@Ehis__01 said:
“The economy is doing wonderfully.”
@omowarer said:
“What decides a country’s economic health and standard of living is the GDP PER CAPITA. A state in Nigeria could have more Dollar millionaires than the whole of Cameroon.”
@user1771374579641 said:
“The stability of the CFA is not by the power Cameroon rather by France as the currency is pegged against the euro at a fixed rate. France controls the money supply to the CFA region.”
Man gets job that pays him in naira
In a related story, TheTalk.NG reported that a Nigerian man has started making money in dollars and on an hourly basis because of the type of job he got.
In a post, the man said he got a job to work as an email marketing and CRM specialist, noting that his year started on a good note.
The man said he is going to be earning $15 (N23,000) per hour, saying he was enmeshed in debt before getting the job.
Source: TheTalk.NG
