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Why Should $ USD Be The Trading Currency For All Our International Transaction?

All our international transaction occurs in USD & not in INR. This occurs no matter whom we trade with. For example we buy crude oil from Saudi Arabia, yet we pay them in $ & not in Rial or INR. Why should we use $ in payment, why not INR or some other country be the trading currency. This not the case with India, all over the world they do this. Other dominant currency is euro. But why should international monetory be controled by rich nations, why not it be poor nation. Why should a fate of one country be decided by other country ?

Answer:Because the currencies you mention are considered "soft" currencies. "Hard" currencies like the U.S. Dollar and Euro are more widely traded on currency exchanges and are more liquid currencies. Also they are a preferred reserve currency because of the large size and stability of their economies. That's why some commodities like oil are bought and sold in $ or Euro, because the people selling the oil prefer $ or Euro.

What Is The Best Way To Convert USD To Euros For Spending Money In Amsterdam?

Are there shops and restaurants that would take my Wachovia Visa debit/credit card as payment and withdraw USD that they convert to euros? I don't want to have to walk around with alot of cash there. If I must withdraw cash, is it best to do it here or there? I'd imagine all of these things incur some kind of fee.

Answer:Most Visa credit cards are OK for payment, not too much of a fee there. For cash you better take you bank card, and use it in an ATM, lower fees, normally. Check with your credit card company and your bank that your cards are ready for use in Europe, (and tell the companies that you plan on using them abroad, American companies seem to need to be told.) And ask about the fees they charge. You are right, traveling with cash is stupid, just take enough for the first day or so, or just get it out of the ATM after arriving.

What Is The Future Outlook Of The USD Currency?

With the USD sinking to new lows on a regular basis, what can we expect for the greenback? Will it continue to go on this trend or make a comeback? Also will a new president in office change things for the currency? What is likely to happen?

Answer:The reasons the dollar is going south are twofold, IMO: the FED has started to lower interest rates and our HUGE deficits. So we're in for some more sliding, at the minimum until the European central bank starts lowering their interest rates too. That is not likely to happen anytime soon, as inflation is picking up in Europe. The most important factors necessary for a stronger dollar are low inflation, an open economy, reasonable regulations and low tax and interest rates.

What Kind Of Business Could I Start In The Philippines For 3,000 USD?

I have a friend who is the average poor Filipino. He lives in Iloilo and I was wandering if I gave him $3,000 USD what kind of business he could start? Anybody have any clues? This would be in Iloilo NOT Manila.

Answer:Hmmmm...$3,000.00 US, huh? For that much, you would probably be the richest person in the country. You could buy villages with the residents included. That's like 500 Trillion peso over there. Don't send your money there, it will end up paying for things like rotten duck eggs, karaoke machines, red horse beer and stupid tricycles.

What Is The Best Computer To Get For Second Life On A 900 USD Budget.?

I'm planning to buy a computer and I need help choosing one. But, i'm on a 900 USD budget and basically i need it exclisivly for second life.

Answer:just about anything on the market...I have 3 gigs of ram, and i rarely crash. So get at least that much. ;-)

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