The US Dollars is the most important currency in the global market trade and of course, occupies number one among the strongest currencies in North America when exchanged against the Euro (EUR). Strongest in this context means the value of a currency against one of its competitors in the foreign exchange market. And the fact … Read more
The ruble (RUB), Russia’s currency, seems to be making what monetary analysts described as a limited recovery against the US dollar as the Bank of Russia cut its key rate by 300 basis points from 20 per cent to 17 per cent on Friday, April 8, 2022 At the time of publication, 1 USD exchanged for … Read more
Any company or business that uses foreign currencies as a price tag for goods and services will be sanctioned, including an 18-month jail term, the Bank of Ghana has warned. Unless such body or individuals have written permission from the Ghanaian apex bank, receiving payments in US dollars, Pounds Sterling, Swiss franc, Euro or any other … Read more
The two most economically buoyant economies in North America are the United States of America (USA) and Canada. This doesn’t mean that other countries on that continent are not blessed with resources. The Bahamas is not also doing badly. In fact, it is the richest country in the West Indies and is ranked 14th in North America for … Read more
The Colombian peso isn’t just one of the troubled currencies, but it is also one of the weakest among the South American countries. For instance, it was thought to have hit the lowest in 2015 when just one USD was worth 3,032 COP. But today, it has slipped further 3,748.81 COP to $1. A Glimpse Into USD to … Read more
Europe is an interesting continent consisting Eurozone (countries that adopt the Euro and official currency) and those that have either refused to join Euro-area or are still planning to do so. With this variety of currencies in Europe, there is no uniform exchange rate. While the Great Britain Pounds, Euro, Swiss franc remain the strongest … Read more
The naira is a legal tender of Nigeria. It uses ₦ (sign) and NGN (code). The Nigerian currency is in coins and banknotes. But the coins have died a natural death due to high inflation making them lose their total value and relevance in the economy. Naira Design On November 23, 2022, NGN200, NGN500, and NGN1,000 get a new design, which … Read more
There are different ways to measure the strength of a currency. If it’s by the purchasing power, the strength of money can not be the same even if five countries use the same currency. In this article, we measure the exchange rate of the United States Dollar (USD) against the local currencies in Europe. It’s important … Read more
Do you know that not all members of the European Union (EU) adopt the Euro as official currency or as their second currency? The EU is a political and economic union that has a total area of 4,233,255.3 km² and an estimated total population of about 447 million. There were 28 EU member countries until … Read more
When the European Union (EU) was founded on November 1, 1993, the union was not designed with microstates in mind. No wonder the EU only recognises 27 countries as its members. But there are some independent tiny countries that adopt Euro as their official currency. As we know Euro is popular among the EU member … Read more
The Asian economy is promising. It houses countries like China, Japan, South Korea, and Singapore that are now destinations for multinationals. Yet, some countries in the continent find it difficult to keep up with the pace of economic development thereby making their currencies one of the lowest currencies on the Asian continent. The continent also … Read more
Apart from Asia’s 59.76 per cent of the world population, its economy has commanded a lot of attention from investment analysts around the world, following some drastic economic policies that have led to substantial growth. For instance, Asian countries like China (the biggest by GDP), Singapore, Japan, and South Korea among others have been able to … Read more
Currently, the Peruvian Sol is the strongest currency in South America, followed by the Brazilian real. The monetary policies of their leaders helped the currencies attain their position on the exchange rate market on that continent. The value of a country’s currency is very important. A financial or investment expert can use the value of the … Read more
When doing a cross-border transaction or investing in another country, it’s important to know the value of the currency of the country you want to invest in. In case you’re considering an investment, in the fourth largest continent, this article highlights the five weakest currencies in South America after we highlighted the strongest legal tender … Read more
The reduction in the official value of a currency in relation to other currencies at the foreign exchange market is called devaluation. This is one of the economic challenges Nigeria is currently passing through. Devaluation is peculiar to an importing-dependent economy that is also battling with insecurity and leadership catastrophe. For instance, if a crate … Read more