http://www.profitconfidential.com/u-s-dollar/the-10-most-expensive-currency/
Sunday, March 6, 2016
List of top 10 most expensive currencies in the world
In this article, we can see how exchange rates work and what factors determine the most valuable currencies in the world. The largest factor that determines the value of these currencies is oil, but other factors include commodities, naval bases, etc. It's interesting to see that some extremely small countries, countries some of us have never heard of before, are nearing the top of this list, in large part due to their access to oil. I like that this article puts into perspective the amount of one form of currency can pay for a U.S. dollar.
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Very cool article. I have been following the South African Rand currency for a while now. In august the president fired the minister of finance and the rand depreciated roughly 30% in under 2 hours. Its interesting to see the effects of politics on the value of currency.
ReplyDeleteI agree Ryan, it is really interesting that I have not heard of several of these countries either. The smaller countries most likely benefit from having a smaller economy and their heavy reliance on oil as an export. It will be interesting to see how these smaller countries' economies are affected in the future if more fuel efficient forms of energy become further developed.
ReplyDeleteI found it fascinating to read about how some of these exchange rates affect the smaller countries with smaller economies. As more volatility permeates throughout both Asian and European countries, the smaller countries will be more affected than larger economies. It will be necessary to keep an eye on these nations because as they grow they will have larger and larger shares of the global economy.
ReplyDeleteI find it interesting to look into these top ten currencies and see the USD is not even on the list. It is very interesting to look into these countries to see what they have that the USD doesnt have. Is this something we should be concerned about, should we strive to be on this list, or is this something to avoid. It would be interesting to look into these countries and look into what their trade deficit or surplus looks like.
ReplyDeleteI did not know how much smaller economies are affected by oil. It would be interesting to see how the economies are affected as the price of oil changes.
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