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Ecuador is a country that does not have its own currency; it uses the United States dollar as its official currency. This dollarization occurred in 2000 as a response to a severe economic crisis. As a result, all transactions, savings, and financial activities are conducted in U.S. dollars, which has stabilized the economy but also limits the government's monetary policy flexibility. Other examples of countries using foreign currencies include El Salvador and Panama.
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Is there African country printing its own currency?
Zimbabwe prints its own currency. In fact Zimbabwe has a $100 trillion note
What is Name of polish currency?
The country has its own currency called the "zloty" which is the nation's legal tender.
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 type of money was used in ww1?
Each country had their own currency.
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.
Why does Liechtenstein use the Swiss Franc?
yes It is to small a country to have its own currency.
Does Liechtenstein use the Swiss franc?
yes It is to small a country to have its own currency.
Why would a person need to buy foreign currency?
If you are travelling to a country that has a different currency than your own, then it is a good idea to get some money transferred into the currency of the country you are travelling to so that you are able to buy things there.
What is the currency of the country and what language do they speak?
The currency of a country can vary, as different countries have their own currency. The language spoken in a country can also vary, depending on the official language(s) or the dominant language(s) spoken by the majority of the population. Can you please specify which country you are referring to?
Does botswana belongs to south Africa?
No, Botswana is a seperate country with its own government and currency.
Kuwait dinar is currency of which country?
Iraq.Has it own dinar that is not connected to the Kuwait dinar
Why doesnt Antarctica have its own language or currency?
Antarctica has no native human population; there are only scientists, explorers and adventurers passsing through. Without a fixed population, no way to determine a currency or a language.
