Feel Free Read WEAK and STRONG currency RTF

Currency, a national insignia, deserves national protection by the leaders. In the economic parlance, the value of the legal tender determines the size of the procurement in the markets. ‘Weak currency’ by stores of accounts and values cannot be used as the criteria to determine the national economic advancement and growth. There is no advanced nation with high per capita income that would attach any meaning to the value of its national currency in the global market as a way to rank the economic powers in the comity of nations. All nations desire to be rated as top in every facet even in the rating of the national currency as a national pride. Author Abdulateef Amusa agreed that weak and strong are used relatively. If the local currency could buy same product and services at the same prices for ages, such is categorized strong by the locals who do not travel out for any need. To the globetrotters and industrialists who are importers of items from abroad, they feel the value of the level of depreciation when the legal tender could not have right value in the international market. At this juncture, we can establish that many ‘fast growing economies’ in the world have national legal tender that is comparatively ‘weak’ in the international market while many underdeveloped economies have ‘strong’ currency. He cited the case of Chinese Yuan and Kuwaiti Dinar. To a lay man, the strong Dinar has greater value to the Yuan. Does the value raise the currency higher than the Yuan? How could a nation produce strong legal tender? How can this be pursued with micro and macro economy indicators by the apex and commercial banks in collaboration with the other licensed linking financial-based institutions? The author beamed his searchlight into how nations can have strong currency without inflicting on the others in the global market. By his studies, devaluation of national currency is a matter of choice. Retaining of the strong valued currency is equally a choice of the nations as sovereignty of nations as enshrined in the constitutional rights to build ‘strong currency’ at least in the area of stabilizing the legal tender in values in the local markets with such measures as avoiding inflation. Strategic measures such as retail price control by the authorized price control board, collaboration efforts with the licensed financial-based operators such as bureau de change, mobile money agents, payment service banks and others, subsidy regime for imports of machines and raw materials among others to prevent inflation by series of blocking the leakages are expressly and unambiguously stated in the book. After critical analyses of studies and situations showing the realities of the contemporary world, he finally submitted that growing the national economy towards meeting the yearnings of the citizens with deliberate national economic interest of upholding to devalued currency or otherwise is the primary goal of any leaders at the helms. In the strong currency by global standard rating is a pride to every sovereign nation particularly the advanced nations. When a currency does not lose value in the local market transactions to constant depreciation, it will be referred to as strong. It takes patriotic, financial disciplined and incorruptible leaders with political will supported by a team of visionary subordinates to move the currency to the anticipated status. Most struggling nations as far as weak economy is concerned shall focus on stabilizing the inflation rate of the local currency. Between strong and weak currency, nations have choices to make for the status of the values of the currency no matter whose ox is gored. Do you know that nations could operate total cashless economy without budgetary allocation for the legal tender at all? If a nation does not budget for the print of cash again, economic and financial crimes have been reduced to the insignificant minimum, infections through the infected cash shall be totally eliminated. Get your copy