How did a standard currency help traders and merchants?

Answer 1

A standard currency facilitated trade by providing a common medium of exchange, simplifying transactions between traders and merchants. It eliminated the complexities of bartering and reduced the need for multiple currencies, which often varied in value. This uniformity increased efficiency, enhanced trust, and allowed for easier pricing and comparison of goods and services, ultimately promoting economic growth. Additionally, it enabled broader market participation, as more people could engage in trade without the barriers posed by differing currencies.