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Why is exchanging currency necessary for international trade?
Manly because there is not always a balance of trade. When there is not a balance of trade someone must be paid. They would like to exchange the money that they receive for the money that is used in their own country. That is why exchanging currency is necessary.Answer 2Because if you are in country A selling to someone in country B, you want to be paid in your own currency. Country B's currency is useless to you, you cannot pay your suppliers or your employees in it.But, the buyer in country B only has country B's currency in his bank account.So one of you has to exchange country B's currency into country A's currency, then you are both happy.
What is enconmy?
Do you Mean Economy? if you do Economy is Like the Currency that a country of such has and the way they make there money.
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.
How much would a Coke cost in Uruguay's currency?
about 30 pesos uruguayan that like 1 dollar and 50 cents
What is the difference between a fiat currency and a gold-backed currency?
Fiat currency is based on faith that it is worth something, much like an IOU. If the authority printing that currency has good credit, the currency will be worth more, and the opposite is true, as well. Gold-backed currency is just that: currency which represents the exact value of gold printed on it. So, a $1 treasury note = $1 in gold. Traditionally, with a gold-backed currency, you, the holder of that note, would be able to go down to your local bank and exchange that note for the same amount of gold. In short, with a fiat currency, everyone agrees that it's worth that amount, and it is subject to national credit ratings. With a metal-standard currency, the currency is based on the price and value of a particular metal, like gold. There are currently no gold-backed currencies. Every currency in the world is a fiat currency.
Why is exchanging currency necessary for international trade?
Manly because there is not always a balance of trade. When there is not a balance of trade someone must be paid. They would like to exchange the money that they receive for the money that is used in their own country. That is why exchanging currency is necessary.Answer 2Because if you are in country A selling to someone in country B, you want to be paid in your own currency. Country B's currency is useless to you, you cannot pay your suppliers or your employees in it.But, the buyer in country B only has country B's currency in his bank account.So one of you has to exchange country B's currency into country A's currency, then you are both happy.
How much a one dollar?
Obviously, one dollar in the US. I can only assume you wish to know what it is worth in some other country's currency, but you have not given a clue what country that would be. You can use a currency conversion website like the related link to convert it into any currency in the world.
How much is a one-dollar-bill worth?
Obviously, one dollar in the US. I can only assume you wish to know what it is worth in some other country's currency, but you have not given a clue what country that would be. You can use a currency conversion website like the related link to convert it into any currency in the world.
Are Clothes Expensive in Germany?
Germans, and Europeans that -like Germany - have the Euro as a currency would not think so. But the Euro is a strong and thereby internationally 'expensive' currency. If you are from a country with a 'weaker' currency like the US dollar, you might decide that clothes (and many other things) are expensive once you calculate what their price would be in your own currency. Of course there are also other factors, like whether you are buying jeans or Gucci fashion.
What does currency mean?
what a country uses for money, like dollars and euros
What currency do they use in New Orleans?
New Orleans uses currnecy that is like the rest of the country's(United States of America) currency.
How much is the Lion King worth?
If you mean the movie then it really matters where you are in the world because of the currency if you would like to tell me the currency in your country just click improve answer and continue and say your currency.
When would you want to own gold instead of having currency such as American dollars?
If the economy collapsed and there was no such thing as currency anymore. But that would have to happen to the rest of the world too. Kinda like the dark ages but without currency. The gold would probably be a currency of its own as long as it still existed. If the economy collapsed and there was no such thing as currency anymore. But that would have to happen to the rest of the world too. Kinda like the dark ages but without currency. The gold would probably be a currency of its own
What is enconmy?
Do you Mean Economy? if you do Economy is Like the Currency that a country of such has and the way they make there money.
Define exchange rate?
EXCHANGE RATE IS THE RATE AT WHICH ONE COUNTRY'S CURRENCY IS CHANGED FOR ANOTHER COUNTRY'S CURRENCY. FOR EXAMPLE THE RATE AT WHICH ONE DOLLAR CAN BE CHANGED FOR POUND STERLING OR ANY OTHER CURRENCY.
What does currency mean in Microsoft Access?
It is a field that is designed to store currency values. So you would use it for fields relating to money, like price or wages.It is a field that is designed to store currency values. So you would use it for fields relating to money, like price or wages.It is a field that is designed to store currency values. So you would use it for fields relating to money, like price or wages.It is a field that is designed to store currency values. So you would use it for fields relating to money, like price or wages.It is a field that is designed to store currency values. So you would use it for fields relating to money, like price or wages.It is a field that is designed to store currency values. So you would use it for fields relating to money, like price or wages.It is a field that is designed to store currency values. So you would use it for fields relating to money, like price or wages.It is a field that is designed to store currency values. So you would use it for fields relating to money, like price or wages.It is a field that is designed to store currency values. So you would use it for fields relating to money, like price or wages.It is a field that is designed to store currency values. So you would use it for fields relating to money, like price or wages.It is a field that is designed to store currency values. So you would use it for fields relating to money, like price or wages.
Why didnt the soviet union accept the results of the bretton woods conference?
Because it would require any given country to adhere by rules about their currency, like the worth of a given currency compared to that of the strongest economy. But Russia didn't set the value of their currency on what it was actually worth, but what they thought it was. China does the same thing today.
