Portfolio task 6
When we travel to other countries, we know
that we can’t use or deal with our country’s currency so we need to change the
currency to that which is used in the country we are going to. Exchange offices
won’t give us the equivalent amount of their currency, they won’t change the
currency only, they will sell their currency to us by profit, so if we are going
to travel to more than one country, we will lose some of our money just in
changing the currency, so some people see that if we have a single global
currency that could save their money. In this essay I’m going to write about
the advantages and disadvantages of a single global currency.
Firstly, we have several advantages of a
single global currency. One of these advantages is that the single currency
will save the time and efforts and money for businessmen and travelers instead
of lose the money in exchange offices. For example, if I’m going to travel to
America I need to change the dirham to the dollar ($1 equal to 3.67 DHS and the
exchange offices sell the dollar at 3.9 DHS) so imagine the difference of
changing that directly and changing that with profits. Another advantage is it could
help us from cheating in some unknown countries. For example, if we are in some
of these countries and we do not have information about their currency we could
be cheated.
Turning to the disadvantages, the big losers
are the exchange offices where their jobs depend on the difference between the
global currencies. Having a single global currency definitely means no exchange
offices; they will disappear.
All in all, a single global
currency will be useful mostly for ordinary people when they travel and
businessmen who travel many times.
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