Money is vital in any sophisticated economy that utilizes specialization and swapping. Yet money as we know it is a national matter. If you reside in Argentina, you cash in on pesos and spend pesos; if you operate the business in Austria, you borrow euros and pay your workers in euros. The currency of a country is acceptable about the border of that country, but usually it will halt accepted by firms and households out of the country. Just try buying coming pair of jeans and Canada with British pound sterling or Japanese pound. Trade between countries normally requires the exchange of the currency of nation for that of some other.
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July 2019
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