Carpon
Valued Contributor
Different countries have their individual and unique currencies. The currency is what is used for carrying out transactions in the nation but indeed the recognised exchange currency is the dollar and the value of your nations currency with reference to the dollar affects the way your finances will be.
The more your currency's value the higher your net worth. But if your currency's value keeps depreciating, it as well depreciates your net worth and by extension impacts your finances.
This is more outspoken for people who do foreign transactions and you will discover that you work hard to get a lot of money in your local currency but it won't amount to anything much when you put it out in the global market for exchange.
Experts advise that for the safety of one's finances, it is advisable that you save in a foreign account especially if the value of your currency keeps going down.
The more your currency's value the higher your net worth. But if your currency's value keeps depreciating, it as well depreciates your net worth and by extension impacts your finances.
This is more outspoken for people who do foreign transactions and you will discover that you work hard to get a lot of money in your local currency but it won't amount to anything much when you put it out in the global market for exchange.
Experts advise that for the safety of one's finances, it is advisable that you save in a foreign account especially if the value of your currency keeps going down.
