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

[Seun4luv]

The Norwegian krone has been known as a safe currency thanks in large part to Norway having no net debt. The Norwegian krone is also a standalone currency which means it's not tied to another country failures.
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The Norwegian krone has been known as a safe currency thanks in large part to Norway having no net debt. The Norwegian krone is also a standalone currency which means it's not tied to another country failures..

 

[Ayokex]

Dollar is becoming both blessings and curse to my country, I stand to be corrected. Dollar is a blessings in that when you do an online business and get paid in dollars, the exchange equivalent amount in my local currency will make leap for joy because it is going to be a lot of money, whereas dollar is a curse in that the more it increases against my local currency the money the price of commodity soar to the peak. You can imagine when a particular item suddenly increase to triple the amount it used to sell all because of the increase in dollar.

 

[maventiger]

Dollar is becoming both blessings and curse to my country, I stand to be corrected. Dollar is a blessings in that when you do an online business and get paid in dollars, the exchange equivalent amount in my local currency will make leap for joy because it is going to be a lot of money, whereas dollar is a curse in that the more it increases against my local currency the money the price of commodity soar to the peak. You can imagine when a particular item suddenly increase to triple the amount it used to sell all because of the increase in dollar.

@Ayokex no doubt you are among the lucky ones who earn some $ due to the nature of your Job, and you get higher value when exchanged to naira. The system always has an adjustment mechanism, in the sense that after converting your dollar to naira you will still have to pay double for the product and services in naira due to the increase in cost of production.
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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.

@Hushhhh printing more dollar isn't the case. There are monetary mechanism put in place to regulate the money in circulation. If the $ note in circulation is too much beyond what is required to balance the system it will lead to dis equilibrium and one of the adverse effect could be more Money purchasing fewer goods.