currency Archives - Foreign policy

Online tools to quickly and easily convert currencies

Published on October 27, 2019

Converting one’s country currency to another currency is a headache, but online tools have made things easier for people who are interested in knowing such things.

Currency.converter.page is among those exceptional online platforms with the help of which you can convert currencies quick and easily.

Additionally, you don’t need to pay to know the exchange rate because it’s free. There are over fifty currencies available on the website so that you can see the exchange rate of any of those.

Another great thing that might force you in using such tools is their exchange rate chart. This provides the history of the rates between two currencies at varying intervals.

You can either see the exchange rate history of one day, one week, one month, one year, or even more than this. This chart is present on the right side of the currency input section and you will be able to take a look at the history of the exchange rate of provided two currencies.

It’s free and easy to use. Additionally, there is no usage limit, which means that you can check the exchange range of the currencies as many times as you want.

How to use a Currency Converter?

Using a currency converter on https://currency.converter.page/ doesn’t demand any professional skill — even a person with the basic knowledge, can use it and know the exchange rates.

The first thing that you need to do is go to the main page, after doing that, you will see two currency options from where you can add the desired one whose exchange rate you want to see.

Click on the currency option and select the country. Make sure to add the currency of the country on the top, whose exchange rate you want to see. What we especially like about this site is the navigation powered by searchable drop-down lists which support you in finding the correct currency pairs.

Following this, include the amount at the small area present at the side of the Currency box and press enter. Now you will see the exact exchange rate of two currencies. You can also swap the two by clicking on the swap icon present at the side.

Have in mind, the developers of the website don’t make any warranty of the exchange rate, due to which they suggest their visitors recheck the price from multiples sources.

The Bitcoin Boom: Asset, Currency, Commodity or Collectible?

Published on September 24, 2019

Technology

Everyone has heard of Bitcoin. And the ones that didn’t are probably too old, or they’ve lived under a rock the past decade.

But what is Bitcoin? Is it an asset, currency, commodity or a collectible? The opinions are different. Some people think that everything about Bitcoin is a fraud, and others think that Bitcoin and other cryptocurrencies will change the world of investing and management. You can easily price Bitcoin and you can trade it. But what is a Bitcoin?

Do you already have some Bitcoins? If you have, and you want to trade them, then you should definitely visit this website bitcointrader2.com.

On this site, you’ll learn even more about Bitcoins and everything that you need to know about trading.

But first, we are going to talk about other things, and we are going to explain what are assets, what is a commodity, what is a currency, and what are collectibles.

What are the assets?

Assets should generate cash flows for you. For example, if you own a business, that’s an asset. Assets can be priced. For example, every business can be priced.

What is a commodity?

A commodity can be used as a raw material. And a raw material should meet some fundamental needs, whether it’s energy or food. And a commodity delivered its value from its use as raw material, and the value of a commodity can be estimated by looking at the demand for energy or food, for example. Commodities can be priced. Coal, wheat, oil, they all can be priced.

What is the currency?

Simply put, a currency is a medium of exchange that you can use to denominate cash flows and it can be a store of purchasing power. When it stands alone, currencies don’t have cash flow and they cannot be valued. But they can still be priced in comparison with other currencies. There are different currencies in the world, some of them are strong, and some of them are weak. Some of them are accepted more widely as a medium of exchange, and others are not. Over time currencies can rise and they can drop, and everything depends on the economic situation in the world.

What are collectibles?

By definition, collectibles are not a medium of exchange and they don’t have cash flows. But they surely can have aesthetic value, the best example are art pieces, paintings or sculptures. Collectibles can’t be valued because they don’t generate cash flows, but they can be priced. They can be priced based on how other people perceive their desirability and value.

And what is a Bitcoin?

Bitcoin is not an asset, because it can’t generate cash flows just by itself, standing alone. It is also not a commodity, for a simple reason, it’s not a raw material. You can’t use Bitcoin to produce something useful.

The most logical conclusion is that Bitcoin is a currency. Which leads us to another question? Is it a good currency? It is on the right track to becoming one.

Top 10 Strongest Worlds Currencies

Published on February 15, 2019

Economy

There are almost two hundred countries in the world, but that doesn`t mean that every one of them has their own currency. There is a fact that one currency can be used in several, even as the main currency. A high majority of people believe that currencies like the European currency Euro, US dollar, or UK Pound are the strongest one. We are going to present you with the top 10 currencies of the world and the honorable mentions.

Currency No.10 – Canadian Dollar (CAD)

When we are talking about the Canadian Dollar, we are talking about the fifth largest reserve of all currencies in the world. Some are calling it Loonie, due to the picture of the bird in the one-dollar coin.

Currency No.9 – US Dollar (USD)

Maybe it is not the world`s powerful currency, but it is the world`s most influential one. Some economists are calling it the World Reserve Currency. That means that you can pay with dollars in most of the other countries.

Currency No.8 – Switzerland`s Franc (CHF)

Swiss is a very wealthy country. Also, they have one of the most stable currencies in the world. They probably have the most efficient bank system in the world. It is called the Bank Secrecy. Their biggest export product is high technology devices.

Currency No.7 – European Euro (EUR)

After the collapse of the German previous currency, Euro emerged as a possibility for all of Europe. And over the years, it has grown drastically. The reason is that it is the official currency in several economically developed countries on the European continent.

Currency No.6 – Cayman Islands Dollar (KYD)

The Cayman Islands can thank for their high currency to them being one of a few world’s heavens for taxes. The country itself is supporting various banks that are working inside it.

Currency No.5 – British Pound Sterling (GBP)

It is often mistaken that GBP is the world`s strongest currency, but that is not the case. At least it enters the top five. It is the official currency in all of UK, and in the large part of British Crown Commonwealth.

Currency No.4 – Jordan Dinar (JOD)

When it comes to Jordan, and its currency, it is not easy to explain how they have such a strong one. The country lacks most of the essential resources and it isn`t economically developed like their neighbor countries.

Currency No.3 – Oman Rial (OMR)

Oman is located on the Arabian Peninsula, just beneath Saudi Arabia, and near Yemen. Due to its location, the population of Oman has real quality and wealthy life. The currency is so high that they have ½ and ¼ banknotes.

Currency No.2 – Bahraini Dinar (BHD)

After Kuwait, we have another Persian Gulf country, Bahrain, with the population slightly over one million people. Naturally, like the previous one, their biggest profit comes from oil export into the world market.

Currency No.1 – Kuwait Dinar (KWD)

Kuwait dinar is the world`s strongest currency. It comes from a very small country that accumulated massive amounts of wealth. The reason is their very significant export of oil into the world`s market.

Honorable Mentions

Now, we will talk about currencies that didn`t make our top ten.

Australian Dollar (AUD)

The new design of the Australian dollar is pretty interesting to see. However, Australia prepares itself for a world without cash. We will see how this will turn up at the end.

Azerbaijani Manat (AZN)

Azerbaijan is a country that has one of the lowest levels of unemployment. It is slightly weaker than the US Dollar.

Libyan Dinar (LYD)

Libya`s currency has tokens named Dirham. It is very interesting to know that 1 Dinar equals 1000 Dirham. Usually in world currencies, one equals a hundred.

Is the High Value of Currency Representing Strong Economy?

We all know that countries who are not economically developed have their currencies decreasing. On the opposite, that is not the case. The country that has its economy and currency growing by the day is not profiting. The reason is, the more powerful currency, the population tends to save it, instead of spending it on a daily basis.

We can give you the Japan example. Even they have one of the strongest economies in the world, their currency is a very small one. $1 equals 109.77 Yen. The information about currencies is used by investors to make their investment plan for a certain country. Naturally, they are choosing the most stable ones. It is simple logic.

General objectives that guide the activities and relationships of one state in its interactions with other states.

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