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When the naira was introduced, it had an official exchange rate of US$1.52 for ₦1, though a currency black market existed in which the naira traded at a discount relative to the official exchange rate. The official exchange rate set by the Central Bank of Nigeria: naira to U.S. dollar is approximately ₦767.54 per 1 US dollar.
In 2005, Nigeria posted a US$26 billion trade surplus, corresponding to almost 20% of gross domestic product. In 2005, Nigeria achieved a positive current account balance of US$9.6 billion. The Nigerian currency is the naira (NGN). As of June 2006, the exchange rate was about US$1=NGN128.4. As of June 2019, it stands at US$1 =NGN357.
The birth rate is 35.2-births/1,000 population and the death rate is 9.6 deaths/1,000 population as of 2017, while the total fertility rate is 5.07 children born/woman. [230] Nigeria's population increased by 57 million from 1990 to 2008, a 60% growth rate in less than two decades. [ 231 ]
This replaces past practices under a gold standard where the main concern is the gold equivalent of the local currency, or under a gold exchange standard where the concern is fixing the exchange rate versus another gold-convertible currency (previously practiced worldwide under the Bretton Woods Agreement of 1944 via fixed exchange rates to the ...
In the fiscal year 1949–50, Pakistan recorded a national savings rate of 2%, a foreign savings rate of 2%, and an investment rate of 4%. Manufacturing contributed 7.8% to the GDP, while services, trade, and other sectors accounted for a significant 39%, reflecting a policy centered around import-substituting industrialization .
Twitter, officially known as X since 2023, is a social networking service.It is one of the world's largest social media platforms and one of the most-visited websites. [4] [5] Users can share short text messages, images, and videos in short posts commonly known as "tweets" (officially "posts") and like other users' content. [6]
From 1979 onwards, a period characterised by high inflation began, which caused the currency to lose value and led to the currency exchange and conversion operation of 14 February 1988, in which the córdoba, under the Sandinista regime's "Operation Berta" (Operación Berta), was replaced by the "new córdoba" (córdoba nuevo) at an exchange ...