💰 Dollar the world leading currency: A Blessing Or Curse To Your Country?

[maventiger]

It's a curse to my country. An economy that solely depend on importation for almost all things thereby causing a lot of distability in the economy coupled with low purchasing power of the currency.

This really affect every sector of the economy causing increase in cost of production.

What effect does it have in your country?
A curse or blessing?

 

[Richard92]

Dollar been the world most popular and leading currency has never been a curse but a blessing, it has helped for easy exchange and also serve as a transaction exchange in my country local stock exchange market. However when we look at the monetry exchange value for my country local money it is a disadvantage because one dollar is equal to four hundred and fifty naria.

 

[Samuel77]

According to my own point of view, dollars in my country is a blessing and I believe it a blessed to do world, but it all depends on what area you use it, people that have business worldwide will see it as a blessed to them, but people that always import good from the United States will see it as a cause to them

 

[maventiger]

Dollar been the world most popular and leading currency has never been a curse but a blessing, it has helped for easy exchange and also serve as a transaction exchange in my country local stock exchange market. However when we look at the monetry exchange value for my country local money it is a disadvantage because one dollar is equal to four hundred and fifty naria.

Gold standard/ exchange has been doing well over the years before the advent of dollar as exchange currency. Are you thinking of the adverse effect of accepting the use of dollar as medium of exchange globally. Go check some countries that refuse back then and how the fare now especially those in Asia.

 

[.V.]

Dollar is the leading currency in the world as not only the US use it. It is a curse to my country in the sense that its value in naira is so high and it increases yearly, hence causing inflation in my country.

 

[Sariana23]

I don't think of a curse, nor do I like the word. But in my country the dollar is highly valued. We are exporters and importers, we have a current situation of governance problem that has led us to a potential crisis in the economy. But apart from the above, the dollar is a blessing.

 

[Osaz96]

It’s a curse to some in my country and a blessing to some....... a lot of people in my country are involved in online businesses and dealing thatboay them in dollars and ehn it isn’t converted to my country’s currency it is a lot of money so I’m pretty sure these guys see the dollar as a blessing. While some other people actually suffer because of the bad economic situation that we go through as a result of the dollar rising high above my country’s currency

 

[maventiger]

I don't think of a curse, nor do I like the word. But in my country the dollar is highly valued. We are exporters and importers, we have a current situation of governance problem that has led us to a potential crisis in the economy. But apart from the above, the dollar is a blessing.

@Sariana23 sorry about that. But imagine a situation where all political leaders are paid in dollars making the the naira a weak currency. They live and work here in the country but they get paid in dollars because of the value it has, which is far above the local currency and they enjoy every bit of the national cake!

 

[Sariana23]

@Sariana23 sorry about that. But imagine a situation where all political leaders are paid in dollars making the the naira a weak currency. They live and work here in the country but they get paid in dollars because of the value it has, which is far above the local currency and they enjoy every bit of the national cake!

You are right @maventiger and I understand you. I guess it can be a reality in your country, even in my country. Perhaps they charge in dollars and enjoy it as you say and the population, increasingly impoverished. But even so, I believe that it is not the fault of the dollar, if not the lack of governance and administration of the country by the political leaders.

 

[MarieArie]

It's a curse to my country. An economy that solely depend on importation for almost all things thereby causing a lot of distability in the economy coupled with low purchasing power of the currency.

This really affect every sector of the economy causing increase in cost of production.

What effect does it have in your country?
A curse or blessing?

Smilingly, dollar value is not really friendly to people in my country. Although many benefits from it high value in terms of monetary exchange, those at that lower part of the social stratification have nothing to enjoy. They're always at the receiving end of the loss incured.

 

[Peppul]

Dollar is more like a curse and blessing to my country, these are the reasons in my country our currency exchange is far behind the dollars and because of that it's difficult to buy things from other countries using our currency because of the exchange rate, that's the bad side, the good side is for someone in my country that works online and is being paid in dollars it's a joy for such person because at the end of the days even as low as $500 dollars is in the U.S it's a big amount when converted to my country currencies. So that's why I said it's a curse and also a blessing. It's fun when being paid in dollars but not when you want to buy something in dollars.

 

[Josemendez]

For someone from a low tier country where their fiat currency is very weak against dollar , getting payment in dollar will surely be a blessing to him , however what goes around comes around , making purchase with dollar will cost him more . This is the challenge .

 

[Jonaville1]

Dollars is more of a curse and less of a blessing to my country. My country is the type that relies on imports, which means the price of goods and services and the cost of production depends solely on the price of dollarsat that particular time. Some years back when dollar was relatively cheaper in relation to our currency, the prices of goods imported from outside the country are still cheaper. But now they have skyrocketed so dollar is actually a course than a blessing to my country.

 

[Kelly5]

It's a curse to my country. An economy that solely depend on importation for almost all things thereby causing a lot of distability in the economy coupled with low purchasing power of the currency.

This really affect every sector of the economy causing increase in cost of production.

What effect does it have in your country?
A curse or blessing?

Lol. Dollar being the worlds leading currency does not make it a blessing or a course to my country. It only measures the economic sense of of what we can make of our leaders in our respective countries it relates to the wellness of our economies

 

[Taimoor Jutt]

It is curse to my country too like yours. Whenever it's rating increase people start to say against our government and criticize on them. Now it's 160 PKR in my countrt equal to $1. It was at 100 PKR before 2015,2016. So it is not a good currency for our country, Pakistan.

 

[Trojan8]

I don't think you referring to it as a curse is fail. If there's another world-wide acceptable currency, the problems your country is facing would still be the same. Dollar is just a measure of of money against that of other currency, it's not the cost of financial problems in developing countries.

 

[kayode10]

I would be selfish here with my answer. The exchange rate of dollars to Naira is a blessing in terms of earning for me. Little dollars earn online here can be exchange into lots of cash here. That's is the reason I put more effort to earn money online, so that with little I want online translate to lots of local cash here. But the down sides of is the it cost lots of local currency to buy something online.

 

[Nurudeen]

Dollar currency is actually a curse to my country because we depend majorly on importation of products and now before we buy we must convert our currency to dollar and now there is massive inflation in my country whereby the price of all goods have tripped so it's just a curse for my country.

 

[Maks25]

Dollar is the leading currency in the world as it is used in a lot of Country. It is a curse to my country Nigeria in the sense that its value in naira is so high and it increases yearly, hence it causes inflation in my country.

 

[Ralphjoe]

Dollar being the world leading currency is actually a blessing to all countries of the world due to its stability, it was adopted as most counties reserves due to it's stability and not even mainly because of it value.

The usage of dollar in most countries of the world has lead to ease of doing international trade, ease of currency exchange and integration. All these benefits cannot be a course no matter what the disadvantage of using it are.