As the largest continent of the world Asia is home to quite a lot of sovereign countries. And some of them are really wealthy, though most of Asia still struggling with poverty. But poverty is not what I am going to write about today. As I was saying, the richest countries in Asia play a very important role in the world. Most of the world’s oil reserve is in Asia, and the reason behind the unprecedented wealth of many Asiatic nations. A given currency’s value is determined, based on the purchasing power of its single unit. All over the world currencies are valued against the US dollar. When it comes to foreign trade the dollar is stronger, but in terms of purchasing power, there are many currencies that possess better purchasing power than the dollar. Also, it must be noted here that having a higher purchasing power does not necessarily mean the country is a better option for investment neither it has a strong economy.
It is hard to keep track of the current currency prices as the prices tend to fluctuate quite a lot. To fight such volatility some countries have imposed fluctuation limits on its currency. By preserving the value of its currency, the country can import more by offering comparatively less money.
Economics is a fascinating subject to study. If you are interested to learn about some of the most expensive currencies in the continent of Asia. Then please follow the link to insider monkey’s blog post that deals with 10 Most Expensive Currencies in Asia.
