First of all, When I read through the blog post by Lovemoney on MSN regarding different currencies and their worth to nothing I was shocked . Further, I felt a shiver in my heart .
SO I WENT THROUGH DIFFERENT CURRENCIES AND THEIR WORTH. Also, I went to the blog to see the weakest currencies of the world and the international purchasing power of our rupee.
SO,My God our condition is not so bad. However let me give you my analytics and observations about different currencies and their worth .
The weakest currencies in the world when comparing different currencies and their worth are given below
Most noteworthy, To buy 10 Australian dollar worth article I will be paying rs515/-,10 British pound worth article would cost me Rs903/-,10 Canadian dollar worth article would cost me rs536/-,10 Chinese yuan would cost me rs104/-,10 euros to cost Rs812/-,10 US dollars to cost rs756/-,10 Singaporean dollar to cost rs522/-, 10saudi rial to cost Rs192/-,10 swiss franc to cost rs720/-
1.Iranian rial 1USD =42515IRR (OFFICIAL RATE) 1USD=110000 IRR (BLACKMARKET)
2.VIETNAMESE DONG 1USD=22886VND
3.INDONESIAN RUPIAH 1USD=14066 IDR
4.GUINEAN FRANC 1USD=9030 GNF
5.LAOTIAN KIP IUSD=8030LAK
6.SIERRA LEONEAN LEONE 1USD=8030SLL
7.UZBEK SOM 1USD=7874UZS
8.PARAGUYAN GUARANI 1USD=5673PYG
9. CAMBODIAN RIEL 1USD=4060 KHR
10 BURMESE KYAT 1USD=1385 MMK
THUS DENOMINATION IS CHANGE IN THE NOMINAL VALUE OF BANK NOTES TO STABILIZE THE CURRENCY .
AFTER DENOMINATION SOME OF THE FOLLOWING COUNTRIES HAVE THEIR CURRENCY RATES AS FOLLOWS
SAOTOMEAN DOBRA 1USD=22691STD
BELARUSIAN RUBLE 1USD=20846 BYR
VENEZUELAN BOLIVAR 1USD = 6 MILLION BOLIVARS
SOUTH SUDANESE POUND 1USD=120 SUDANESE POUND
NIGERIAN NAIRA 1USD=197 NAIRA
ZIMBABWEAN DOLAR 1USD=100 TRILLION DOLLAR
SOMALILAND SHILLING 1USD=6000 SOMALILAND SHILLING
Really, It is very sad indeed imagining buying loaf of bread by carrying laundry bags or cartload of currencies is what we see while comparing different currencies and their worth. Almost their currencies are not even the worth of paper used for printing. So, these pathetic conditions prevalent in so many countries are seen when comparing different currencies and their worth. Thus, many of India’s trading partners including those in the emerging markets too have been depreciated against dollar.so, Chinese Yuan and Japanese yen have also been depreciated against dollar.
Reasons for this situation and how to correct this
Really the main factors contributing are inflation, corruption, low purchasing power etc is seen while comparing different currencies and their worth. However, Inflation is a trend where demand for goods is more than supply. THUS, To stabilize this supplies should increase thereby stabilizing the prices is the only solution to stabilize different currencies which are worth to nothing. now, Increased production with decreased costs and quality output will enable us to boost exports thereby creating a demand globally for made in India products. Finally, this is what we should ensure while comparing different currencies and their worth
Read this post will finance ever rule the world
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