Currency

reserve currency is a name of the currency that is held in necessary quantities in many institution and governments across the world. This is usually used in most of the international transaction and has an exchange rate for each country through which the business is done. It offers an opportunity for the people living in countries that use the currency to purchase goods more cheaply without having to undergo extra cost as it is the case for other nations. The US dollar is known to be the most dominant currency that has been in use for quite some time. However, other suggestions from different government also want to put their money at a global level. A perfect example is the China authority that focuses on overthrowing the dominance of…

transformed much is the form of traditional currency in the US, but that may be soon to change with the development of Bitcoin. Although the US dollar and Bitcoin are both currencies, they are both vastly different types of coinage. Bitcoin not only offers a new form of portability and decentralization,…

Codification Definition of Foreign Currency FASB ASC Topic 830-10-20 defines foreign currency as, “A currency other than the functional currency of the entity being referred to (for example, the dollar could be a foreign currency for a foreign entity). Composites of currencies, such as the Special Drawing Rights, used to set prices or denominate amounts of loans, and so forth, have the characteristics of foreign currency.” What the Codification Requires for Disclosure ASC 830-20-50 provides…

fundamental in human history—currency. Before the Internet, currency had been exchanged in person or by mail for millennia. Now, nearly anyone can buy a product or service from someone else around the world. However, doing so generally costs the buyer or the seller (sometimes…

National Currency “It's not that I’m Anti-China. I just think it’s ridiculous that we allow them to do what they're doing to this country, with the manipulation of the currency, that you write about and understand, and all of the other things that they do” (Trump). People will go to immeasurable amounts to have the upper hand in this world, especially when it involves money. What if we could eliminate the probability of one country having an advantage over all? When concerning money, we could…

The influential people seen on our nation’s currency should not be replaced but acknowledged and appreciated by anyone obtaining cash. Remembering the leaders who established our nation is far more important than having a favorite president on our money. Also, the process of changing faces is expensive and time consuming. The layout and design of our money is a symbol of our nation’s history, morals, and foundation. If leaders like George Washington, Thomas Jefferson, Abraham Lincoln, and…

'in China‘s currency devaluation The speed and size of China 's economy revolution is a trend and China has emerged as a major global economic power. It is now the world’s largest economy. (Morrison 2015) Three decades ago, China was among the poorest nations in the world. Comparing the Gross Domestic Production in China per capital against USA level was only 2.5% and Brazil level was 10%. Currently, China 's Gross Domestic Production has grown at approximately over 8 percent per year.…

Mugabe gained power in 1980, and eventually the Presidency in 1987, after the end of white rule and continues to rule to this day; a country which has been experiencing a currency crisis for almost the previous two decades. After decades of large government budget deficits and…

One year ago I stumbled upon a fairly new blockchain project. It was called Steemit and it was going to change the world. I began reading everything I could about it. A decentralized social media they said. I liked the sound of that. There was just one problem: Steemit had some confusing economics. There was something about three coins that I couldn't understand. You see, I'm not a math, a science, or a tech. Rather I'm an art and a history. These complicated blockchain gizmos confuse me. I…

"Currency War and its Impact on the Global Economy" 1.) Introduction: Currency war or competitive devaluation, is a situation in which countries try to gain a trade advantage over other countries by causing the exchange rate of the domestic currency to fall in relation to other currencies. Every country would want to prosper, but why does it depreciates its currency? There are 3 reasons: Firstly, to boost the exports. Secondly, to reduce the trade balance deficit and thirdly to reduce the debt…