0
Why do people in poor countries ussually accept US dollars in payment?
Wiki User
∙ 14y ago
Hi, Complex question with recent changes, but here is "the simple" answer.
The US Dollar, has been the currency of choice around the world for many years.
Because only the US Dollar had the status of "SDR" Special Drawing Rights, from the IMF international monetary fund. Even "oil" nations are requesting the US dollar no longer be exchanged for their oil, this is a huge economic aspect, downturn for the US.
So, This has all changed just in the past year particularly. There are now countries, people around the world who would prefer other currencies as the US Dollar/World Economy is subject to great inflation now. Hope I answered your question.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
How much 100 dollars worth in England?
Literal answer - very little, because virtually no businesses accept payment in US dollars. But you could take it to a bank, and you would get about £65.
A store must accept us dollar bills in payment because the dollar bill is?
legal tenders:)
Which of these best describes why money is an effective medium of exchange?
Nearly everyone will accept money as payment.
Why does the IMF require countries to accept economic policy recommendations along with the loans it gives?
The IMF wants to fix the economies of countries that need its help.
Does Econo Lodge accept credit card payment over the phone?
You can use your credit card over the phone for Econo Lodge but only to book a reservation. Your card will not be charged until after you have checked in.
Why do people in poor countries usually accept US dollars in payment?
Us currency has a stable backing is unlikely to suddenly lose its value and is acceptable to nearly any one that wants to trade.
I have paid 2500 dollars on a 2700 dollar car and sellers refuse to accept final payment and are threatening repossession. What are my rights?
A seller may not refuse final payment in an attempt to repossess.
Will they accept American dollars in St Petersburg?
Yes, if you pay by credit card. For cash payment required exchange U.S. dollars to the Russian national currency at any bank.
How much 100 dollars worth in England?
Literal answer - very little, because virtually no businesses accept payment in US dollars. But you could take it to a bank, and you would get about £65.
Cuban dollar stores are special stores that?
A: Only accept U.S. doallars as paymentA+LS :) Im stiiting next to a cute girl with blonde hair .
Do cab drivers at Manchester England airport accept dollars or euros?
No, the currency of England is the pound, cab drivers will only accept their fare in pounds, they may however accept payment by credit card, the credit card company will convert your dollars or Euros to pounds to complete the transaction, they may charge a small fee for this service.
If you cant make your full car payment does the lender have to accept what you can pay?
No, but if they accept any payment, they cannot begin the repossession proccess
How can one pay rent in US dollars in Canada?
A person can pay rent in US dollars in Canada in certain places. In Canada, places like Toronto and Vancouver accept American currency as payment for things such as rent.
What do you call any kind of money that a creditor must by law accept in payment of debts?
Legal tender. In plain English, it's the currency that is in use in a particular country. US dollars in America, Sterling in the UK and Euros in much of Europe for example.A creditor is normally free to accept other forms of payment if he chooses to. The creditor may decide to accept a foreign currency rather than wait for the payment in the legal tender of the country. The creditor is normally not obliged to accept anything other than legal tender.
Does ryanair accept laser card as payment?
NO
Does aerlingus accept paypal as payment?
heeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeey
Does Michael's accept checks as payment?
not anymore
