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Why residents in many Caribbean Countries choose to save in US currency rather than that of their own country?
Wiki User
∙ 9y ago
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.
Wiki User
∙ 9y ago
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Currency of the Caribbean?
because the caribbean is made up of numerous islands and independent countries there is no one currency to use. each country has its own currency with its own exchange rate and rate of inflation. If you're planning to go to one or more caribbean islands i recommend you go to the bank to check the exchange rate for each individual country
Currency of which country is the reserve currency of most countries?
USA is richest country
What countries in the Caribbean did the Mayas settled?
The Maya civilization did not directly settle in the Caribbean islands. They were primarily located in present-day southern Mexico, Guatemala, Belize, Honduras, and El Salvador. However, there may have been some interaction and trade between the Maya and indigenous groups in the Caribbean.
Which Caribbean country has the most land space?
Cuba and the Caribbean has islands not countries x
What are some Caribbean countries that begin with the letter T?
Trinidad and Tobago is a country in the Caribbean
What is Grenada's currency?
Grenada is a Caribbean country comprising a main island, also called Grenada, and 6 smaller surrounding islands.The Eastern Caribbean Dollar is the local currency in Grenada.The International currency code is XCD.
Why residents would substitute foreign for domestic currencies?
A resident of a country would normally do this if their home currency is worthless.
Is there a Socialist country in Caribbean?
Cuba is the perfect example of a Communist/ Socialist country in the Caribbean.
What is a country famous for music?
countries in the Caribbean have a distinguishing music style
How does Caribbean News Agency show neighbourliness to Caribbean countries?
by caring and sharing love care for each country
Why do countries have their own currency?
Countries have their own Currency as a lot of them were made to only be used in their country of origin. Currencies like the US Dollar are widely accepted in countries outside the US due to its value over the countries own currency.
What is the money system for European trade?
Internal trade is done in the currency of the country in question. International trade is done in the currency of one of the two countries involved. If a company in country A buys something from a company B, they agree to either use the currency of country A or that of country B. This is often the Euro, as this is the main currency used by the majority of countries in Europe.
