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

[joy101]

Dollar is never a curse ruther it a blessing, because dollar is the most leading currency in the world, the more dollar increasing that's how your profit will be higher also, we all want dollar to be high so to earn much,

 

[Chris]

Dollar is a blessing and a curse to my country in the sense that to most people who earn online and are being paid in dollars see it as a blessing in terms of withdrawing to their local currency. tho it causes inflation in the country, increasing cost of goods and services, these are reasons why those who earn with my local currency see it as a curse.

 

[Erik4150]

In my country, dollar is not really important. Until the government devalued my country's currency, now many business moguls are interested in saving their money in dollars. Dollars have been a necessity for businesses in my country.

 

[Ridorz]

Dollar is a currency that is controlling many others countries currency. Anyway, in my country I can say highly of dollar Is a 60% curse to my country money because the more the dollar's getting high the more our currency is reducing in value.

 

[Adventurer]

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?

It's not a curse to my country in my opinion, my country also relies on importation but whose fault is that? If my country can invest more in agriculture we won't rely heavily on it.

 

[Gilead]

Smiles... At this particular point in time,it is a curse on my country.with low productivity rate in my country,poor fiscal policies, high unemployment rate etc..dollar increase is quite a bad thing for my country.. hopefully it will be a different story one day.

 

[Mujahid12]

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?

Dollar which is a great for our country because it depends on all this things, if its up then things become expensive, if it is down, it becomes cheaper if its dow then it brings blessing for if its up then it is curse for us.
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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?

Dollar which is a great for our country because it depends on all this things, if its up then things become expensive, if it is down, it becomes cheaper if its dow then it brings blessing for if its up then it is curse for us.

 

[maventiger]

Smiles... At this particular point in time,it is a curse on my country.with low productivity rate in my country,poor fiscal policies, high unemployment rate etc..dollar increase is quite a bad thing for my country.. hopefully it will be a different story one day.

One day? With the rate at which politicians mismanage the country's resources in all sectors of the economy, I doubt if that changes soon. Any government that is willing to turn things around must have necessary policies, and instruments to drive growth.

 

[Gilead]

One day? With the rate at which politicians mismanage the country's resources in all sectors of the economy, I doubt if that changes soon. Any government that is willing to turn things around must have necessary policies, and instruments to drive growth. Well the one day I meant didn't mean it will happen soonest but that it will sure come... hopefully when God blesses us with good governance. Then things can turn out for good. We only need to stay positive because giving is not an option for the sake of our children and their children's children

 

[Alexandoy]

I don't think we can blame the dollar as a curse because it has nothing to do with our economy. Our currency is also dependent on the US dollar simply because the dollar is the basis of value as the standard currency of the world. When our economy goes down the value of dollar increases. But it is not the fault of the dollar to increase in value against our peso. It is the fault of the peso that it is down because it is not only the dollar that has increased in value (against our currency) but all other currency like the Japanese Yen, the UK pounds and the Euro as well.

 

[maventiger]

@Alexandoy I understand your views but what if your government has done the needful in making your economy one of the fastest growing and it currency highly valued in par with the dollar. When all mechanisms of the economy are put to work and your economy can self sustain its population in terms of production and provision of tech items for the the industries then you will see your currency Peso as valued as dollar when exchanged.

 

[Abibatabosede]

We can view dollars in the two ways. If you think of the difficulties people have to go through to be able to meet up with the different social gadgets which are used in convenient living, you will believe that dollar is a curse. But if you work internationally and earn your income in dollars,then it is a blessing.

 

[maventiger]

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@Abibatabosede the more reason those occupying political positions in various states in my country always want their take home to be in dollar equivalent. Especially the senators.

 

[Rainlover207]

Dollar has 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.

 

[Abbas ali]

Dollar is being the leading currency of the world it is curse for some people and blessing for some people.
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.

 

[Zubair]

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?

If we talk about whole country then it is curse for our country because when it goes high in rates it effects badly on our currency due to which poverty takes place. But for those who are earning money in dollars is blessing because of its high rates in our country. Overall it should be taken down by improving value of currency.

 

[maventiger]

If we talk about whole country then it is curse for our country because when it goes high in rates it effects badly on our currency due to which poverty takes place. But for those who are earning money in dollars is blessing because of its high rates in our country. Overall it should be taken down by improving value of currency.

The external pressure that comes with foreign currency controlling almost all economic activities of another country cannot be over emphasized. The most affected are the major stake holders contributing to the GDP of the country in which such wide margin in currency value make it difficult to perform optimally and in some cases doesn't show their true effort in contributing to nations growth.
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If we talk about whole country then it is curse for our country because when it goes high in rates it effects badly on our currency due to which poverty takes place. But for those who are earning money in dollars is blessing because of its high rates in our country. Overall it should be taken down by improving value of currency.

The external pressure that comes with foreign currency controlling almost all economic activities of another country cannot be over emphasized. The most affected are the major stake holders contributing to the GDP of the country in which such wide margin in currency value make it difficult to perform optimally and in some cases doesn't show their true effort in contributing to nations growth.

 

[Ibrahim1]

It's both in my country because when you traveling down to my country it's a blessing and you will able to do whatever you want to do after converting the money Into my country currency but traveling to aboard man it's really a cause because you really going to spend a lot of money but the money is gonna be times two of the money you work for in aboard you going to spend to move to aboard

 

[Hasan Raza]

Dollar is almost used in most of the countries and also used for trade in different countries together.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.

 

[MRizwan530]

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?

At least it is not blessing for our country because in our country import is more than export so when the price of dollar increase the inflation also increase in my country.
And some people are in my country that can control the rate of dollar.