0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
How easy is it to sell gold coins?
If you can you need to hold onto it. Gold is the only thing that will be of value when currency is no good.
What is the currency of Ukraine?
Hryvnia or Hryvnya, (UAH). Currency does not hold strong, and the hryvnia is losing value
Can you give me an example of a currency conversion design?
In it's simplest form, tables with trading information need to hold either both the transactional and trading currency values or the transactional value and exchange rate. As an example, a sales order invoice table would have to hold the value a customer paid for an item in the currency they paid for it, as well as enough details to be able to calculate the currency the business operates in. Imagine a company based in England that exports goods to other countries - their customers will be quoted a price in US Dollars or Euro or Yen which they would pay, but to work out the profit, the sales price will have to be converted back into UK Pounds. This can be done either by working out the Sterling value at the time of the invoice and writing that into another column on the invoice record, or by holding the exchange rate at the time of the invoice and calculating the Sterling value when required for reporting purposes. Either mechanism is fine. What isn't fine is to hold only one or other currency value on the invoice and use the exchange rate on the system when the report is run, because this wouldn't reflect the true value at the time of the invoice.
What is the value of old Thai money?
The value of old Thai money can vary depending on the currency and the condition of the banknotes or coins. Some old Thai money may have collector's value and be worth more than its face value, while others may only hold sentimental value. It is recommended to consult with a currency expert or collector to determine the specific value of old Thai money.
How does China peg the yuan to the dollar?
Supply and demand will cause all fiat currencies to rise and fall in value depending on how much effort humans are willing to spend in order to acquire that currency. This is a universal law that cannot be broken.However, governments can 'peg' their currency to another currency if they want. That Government has to watch the exchange rate between their currency and the pegged currency very closely.If a group of workers in a city collectively decide for themselves that the yuan they own is worth more than the 6 dollars they would get in exchange for it, then the currency becomes more valuable. Immediately value has gone up and no law can stop that. The government must work to cause and equal and opposite reaction to get those workers to think that the Yuan is worth less. Governments have many tools to do this.The national bank of the government doing the pegging must hold large reserves of the foreign currency to mitigate changes in supply and demand. If a sudden demand for a currency were to drive up the exchange rate, the national bank would have to release enough of that currency into the market to meet the demand. They can also buy up currency if low demand is lowering exchange rates.The government entity that coins money is told to "create more money from thin air" and gives that money to banks in the form of low interest loans. Thus flooding the market with currency as bankers make high risk investments, making currency easier to come by for workers, money becomes easy to get, the value goes down as a result.The government can do the opposite, refraining from giving more money to the banks, making the banks take less high risk investments, money becomes harder to get, people re-value the currency.The government uses this like a gas petal on a car, to keep the speed the same, you must press harder when your going up a hill, and press less when your going down a hill.If the government stops doing this, the currency will immediately fluctuate and will no longer be pegged.
Why did pericles give male citizens the right to hold government offices?
Because he WANTED to. ***Sexy and I know it.***
Why does UK have a different currency than europeon unioun?
Because, although for trade purposes, we are part of the EU, we are still a separate nation with our own monarchy, laws and currency. It has been decided that before we give up our currency in favour of the Euro, we are to hold a referendum - with the people deciding the fate of our coinage.
The U.S. Currency Exchange Rate: A Brief History?
Gold is a metal of adornment in jewelry, and a sign of wealth. The currencies of the world were anchored by gold for centuries. A piece of paper currency issued by any government represented the actual amount of gold held by that government. The United States set the value of the dollar at a single level in the 1930’s, and the cost of an ounce of gold was worth $35. After World War II most countries based their currency values on the U.S. dollar. Since the value of gold was widely known according to the US dollar, then the value of any other currency could be based on its value in gold. For example, a currency worth twice as much gold as the U.S. dollar was worth 2 dollars. This system was basic, and eventually was out-grown due to the U.S. dollar suffering from inflation, and other world currencies became more valuable. In 1971, the U.S. removed the gold standard all together which meant that the market determined the value of the dollar. This led to utilizing a US currency exchange rate. The U.S. dollar still is a powerful force in financial markets, and exchange rates are often expressed in terms of U.S. dollars. The euro, British pound, Canadian dollar, Australian dollar and Japanese yen account for 80% of currency exchanges altogether. The world uses two systems to determine a currency’s exchange rate. They are floating currency and pegged currency. Floating Currency - A currency is worth whatever buyers are willing to pay for it. It is determined by supply and demand which is driven by foreign investment, import/export ratios and inflation. Pegged Currency - The exchange rate is set artificially and maintained by the government. The rate is set in comparison to another country like the United States, and the rate doesn’t fluctuate. In order to maintain a pegged rate, a government has to work diligently, and their national bank most hold large reserves of currency to meet supply and demand. The US currency exchange rate is based on a floating currency as most governments are. Every major nation uses the floating currency method, and is considered most efficient of the two because the market will correct the rate to reflect inflation. It isn’t perfect though, and if a country’s economy suffers from instability, a floating system scares investors away.
Why residents in many Caribbean Countries choose to save in US currency rather than that of their own country?
Residents in the Caribbean save in US dollars because it is more stable than their currency. When they save in US dollars, they know that the dollar will be more inclined to hold its value.
What is the set of values and beliefs that a person holds about the purpose and scope of government?
People value freedom and order and often hold that as the purpose and scope of government. Some values on government are set through personal experiences and social interactions.
How do changes in interest rates inflation productivity and income affect exchange rates?
Some countries simply allow the exchange rate to be determined by demand and supply. Some countries attempt to keep the exchange rate between their currency and another currency constant. When countries agree to keep the value of their currencies constant, there is a fixed exchange and is called exchange rate system. Exchange rate or value of a currency is defined by its supply and demand factors. If a country has high interest rate, that will attract more investors to buy that currency to invest (increase in demand for the currency). If inflation is high, the value of the currency decreases over time and therefore not attractive to hold (decrease in demand). If the country has high productivity and does a lot of exports, foreigners will need to buy currency in order buy the goods (increase in demand).
What are coins and paper money worth?
The value of coins and paper money can vary widely depending on factors such as their age, condition, rarity, and demand from collectors. Some old or rare coins and paper money can be worth significantly more than their face value, while others may only hold sentimental worth. It's recommended to consult with a coin or currency appraiser or collector to determine the specific value of your items.
