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

[GIFTMICHAEL]

Countries that depends virtually on importation business has suffered tremendously from the use of dollar. Dollar is a curse to all the small country that can not produce what will do them. The use of dollar as the only international currency exchange has greatly impoverished those countries.

 

[Holluwaphemmy]

Dollar is a blessing to me sincerely. Before I started any online business, when dollar rise, I'll just say why is it rising but now I'll just be happy because I know my payout will increase

 

[Ebensco]

dollars in my country is a blessing and also to the 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 curse to them.

 

[Sake]

I don't see it a ls a blessing nor a curse, I think local fiats are losing value because that country keeps printing more or so i thought, But Dollar is great since even if you're not from America you can still get and use the money.. getting paid in dollars is better than local currency ofcourse.

 

[Robrown83]

Dollar in my country is a sword of two sharp edge. I can say is a curse and also a blessing. I believe to some people that are into exportation and importations is a blessing to them while is a curse in the devaluation of our currency. It affect our economy that really cause inflation.

 

[Planet408]

I can't consider dollar as a curse to my country. My reason is that the leadership of my country is the cause. They failed to develop our country the wayvit should and this is why we now depend on importing almost everything in our country.

 

[Chibson]

I wouldn't say it is a curse because it is used in most countries of the world and of course no country can do without it. It is used as a currency of exchange in the world so it is a blessing not a curse.
The reason my country for example is not moving forward is not because of the dollar but because they depend solely on importation.

 

[maventiger]

I wouldn't say it is a curse because it is used in most countries of the world and of course no country can do without it. It is used as a currency of exchange in the world so it is a blessing not a curse.
The reason my country for example is not moving forward is not because of the dollar but because they depend solely on importation.

If you can remember vividly when the gold standard was still in use, over dependency wasn't the case and that is one of the major reason while so many developing countries with potentials lost their glory. Us benefit more from the exchange than any other country.

 

[Afeefah]

It is actually a big disadvantage to my country especially when buying goods that are being shipped to you.
The shipping fee is usually high because they mostly use dollars for their payment which has a much higher value than my country currency.

 

[Shaffy]

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?

I won't really say it's a curse.

It was that we have to depend on it, buy almost all countries have this choice or non. It's just what we make out if it.

If we were serious enough to do something about this, it will be a long journey, but still possible.

 

[Smithkid]

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?

 

[Usman Sattar]

The dollar has been the world’s principal reserve currency since the end of World War II and is the most widely used currency for international trade.
High global demand for dollars allows the United States to borrow money at a lower cost and amplifies the power of its sanctions, but it also hurts U.S. exports and costs jobs.
Other currencies, including the euro and Chinese renminbi, remain far behind the dollar in global usage.

 

[Blessedsam60]

Well, I will say it's a blessing to my country because it has been a determinant factor for the price in goods importation. But just of recent, the hike in dollar has make every of the consumables and utility products in Nigeria cost due to the rate that's 1$ is now equivalent to 487 naira. So bad.

 

[Alogakho Esson]

Dollars is economy is a good currency which have stand as the only global most acceptable currency on earth

 

[Kinglegend01]

This is a really good thread you have created.The American 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. I think although alot of things in my country is affected by it's worth to my country's currency would be either a curse or blessing depending on the type of business you are doing.

 

[Shayo]

It's definitely a blessing, although it may seem the other way, I try to expect the good in every possible way.
The dollar exchange rate to my local curency is not encouraging and it affects the economy, the prices of goods is on the rise since dependence on importation is huge.
Being a blessing or curse depends on how willing we are to turn the situation around to favour us.

 

[maventiger]

@Shayo I'm still trying to comprehend your write up but I couldn't. Shayo, would you mind pointing out the blessing in all you've written? Kindly tag me with your response. @Kinglegend01 Thanks for the contribution.

 

[Frank]

I think it's a curse to my country as we import almost everything that we use in our country. It is not easy to be in a situation where every appreciation of the dollar does harm to those of us in Nigeria. I hope this situation changes in the shortest possible time.

 

[Shayo]

@Shayo I'm still trying to comprehend your write up but I couldn't. Shayo, would you mind pointing out the blessing in all you've written? Kindly tag me with your response. @Kinglegend01 Thanks for the contribution.

Well like I mentioned in my post, I was trying to be optimistic.
To some extent too, I think it is a blessing to me, for instance, when bizdustry pays me and I exchange it to my local currency, the money becomes more tangible.
And I would like to believe that people benefit from the situation as well. No matter how bad a situation is, there is always a blessing in disguise.

 

[maventiger]

@Shayo thanks for the response, but I would like to you to view it from a broad angle. Only few individuals like you and I have the opportunity to earn in other currencies, what about the vast majority that depends and survive on local currencies. No doubt, some will benefit but the majority wallowing in poverty is our focus.