Tuesday, July 03, 2007

Currency popularity

I was again looking at the economics of each country in the world and I stumbled upon an interesting site - XE.COM and particularly the popularity each country had as for as their currencies were concerned and the amount of transaction, world wide, the currency from a particular country was used. And Indian currency - Indian Rupee was valued at world wide position of 15 - A chutzpah !

But on second thoughts, just goes to show the weight of the three big powers - USD, Euro and Pound sterling, seems to be so much in control of the transactions. I, still feel, India can still throw the weight around and get past a few other minnows there ahead of her. However, having said that I am not very sure what has been the scale using which the percentages are arrived at. But so far it has been because of sheer hardworking community who had propelled the unit forward thus far. What is interesting is to see the Zimbabwe Dollar ranked at 74th position when the inflation rate in their country is about 4000% ! And I am very serious about that. It is true that they have that bad an internal situation now. And it is expected to hit the upwards of 6000% by the year end. Wonder how the people survive there.

Zimbabwe
Currency: Zimbabwean dollar (ZWD)
Inflation rate: 3,714 percent and rising
Exchange rate: Officially, 250 ZWD per US$1; unofficially, as high as 750 ZWD to the U.S. dollar.

If this is not it, I know ZWD is one of the worst currencies around - so a double header to be ranked as high as 74 for the transactions based on their currency and secondly to be the worst currency ! Look at their dollar bill for instance,



Anyway, I will cover this in a different note. Still a long way and long way of prosperity sans natural calamities, terrorists attacks, inflation and other insane scams internal to India yada yada does not happen in a big scale.

Labels: , ,