HOW TO DODGE DEVALUATION AND INFLATION BULLET- Dr Adesina Mobarak
About 2 years ago (2019), if you had ₦360, you could buy $1. Simultaneously, 6 years ago (2015), ₦200 could buy you $1. But today, that same ₦360 can only get you $0.75 and that same ₦200 can only get you $0.41. This means that there is a significant loss on the value of your savings in naira by 25% and 60% respectively. Another factor is Inflation. Why this factor is very worrisome is because, apart from the impact of devaluation, the local currency has lost its purchasing power quite significantly. Imagine today, a dollar approximately ₦580. So, the question is this, how do you build a portfolio that helps you maintain the value of your investments and dodge the devaluation and inflation bullet the economy keeps firing at us? There are five ways to do this and I am going to tell you: 1. EQUITY/STOCK INVESTMENT: As an avid investor who wants to protect his/her investment and protect your finances, you should start asking about equity. You want to know how you can get your hands o...