A Single Global Currency
Benshuna Quon
Everest College Online
A Single Global Currency
Money, money, money! Everything around the world has a connection to money in some way. Is it safe to say, “Money makes the world go ‘round”? After all, one thing that is common around the globe is each country’s need for money. They need money for providing food, providing clothing, providing shelter, and many other things. Even though so many nations have many uses for money in common, the type of currency used is very different. What would happen if all currency were the same? Should there be a single global currency? Of course there should be. A single global currency should be created to eliminate the need to convert money, create economical justice, and develop smoother global transactions.
With money in mind, think about traveling for a moment. Now think about traveling to a different country. In different countries, making purchases is not as simple as it would be within the borders of the United States. If a US citizen goes to a different state, the type of currency would be the same but not necessarily in a different country. As a matter of fact, many times a customer must convert their currency into that of which is used by that specific country, to ensure the fairness of pricing.
For example, a traveler in Japan, from the United States, would need to obtain Yen to get current rates on an item. This process can be completed at banks, post offices, and an international airport. A few citizens would rather keep the US dollar when traveling, however they may not be aware that store owners will actually raise the price of an item in order to get more American money. According to the Japan Guide, (Money on Your Trip to Japan, 2013), “The US dollar is a highly traded foreign currency in Japan, and partly for this reason one might get a favorable rate if one can change the US dollars into Yen in Japan.” With that being said, if...