Political and economic circles often speak of the falling value of the United States dollar. This is a common topic in general. Whether family members, such as your grandpa, telling you stories often of what could be bought with a quarter when he was growing, or you actually thinking about how high rent is now compared to 15 years ago, this is now a common topic among many people within the United States. There is a concern about how many dollars are being printed by the Federal Reserve every day as well. However, the U.S. dollar remains stable and hasn’t lost much of its value at least yet and is still considered valuable.
Iran has been a huge travel story over the past couple of years. This is a financial trend that will likely continue in the future, whether world leaders want it to or not. The Iranian rial will probably remain a poor performer, even when tourism and its stock is at its peak. The country’s parliament has been barred from attempting to redenominate its currency. The Iranian rial trades at about 42,600 to one U.S. dollar. The money exchange personnel will likely give you a bit more than that once they see a new crisp $100 bill.
The Iranian rial is one of the most confusing and yet worthless world currencies. A toman is usually just simply an Iranian rial without a zero attached.
The Vietnamese Dong is another world currency that is currently worthless. However, this world currency is slightly worth more than the Iranian rial. For one U.S. dollar you could get 22,900 dong as of June 2018. The Vietnamese banking system is connected to the rest of the entire world. This is the difference between this country and the others. If one would retrieve $50 U.S. dollars out of an ATM in Vietnam, they would get 1,133,425 dong. This would make you a millionaire in Vietnam.
The Columbian Peso is another nearly worthless currency in South America. However, it is not nearly as worthless as the currency in Paraguay. For every U.S. dollar, a person would get 2,900 Colombian pesos. This currency would be twice as valuable as the currency in Paraguay. The pesos are very popular in most of the Latin American countries, this would include Mexico and Argentina. A much less humorous fact would be that the pesos all have different exchange rates so a person should familiarize themselves with them.
Some other world currencies could be making a comeback in 2018. The Iraqi Dinar is being invested in. The Iraqi dinar rate is one U.S. dollar equals 1160 IQD. If an investor was to invest $1000 U.S. dollars in the Iraqi dinars with this rate, they would get 1.16 IQD million. The Iraqi dinar has been stable against the U.S. dollar as of 2017. However, this could change as everything moves forward. The revalue situation of the Iraqi dinar could drastically improve the exchange rate even more in the future. Moreover, there is a distinct possibility that the Iraqi dinar could actually increase its value against the U.S. dollar without this revaluation. The Iraqi dinar has been trading in a narrow range but some investors see tremendous potential to make money.
The Iraqi dinar revalue is at a much higher rate especially with the tremendous energy potential that Iraq now has. This is accurate with both natural gas and as well as oil. Iraq has the fifth largest reserves for oil in the entire world and this is calculated to be an estimated 143 billion barrels.
The Mexican peso is also supposedly making a comeback as a world currency. The peso was the world’s best performing major currency in the first half of 2018.
The euro is also taking the world by storm and making a huge comeback in 2018. In fact, Jim Cramer usually doesn’t recommend foreign currency speculation, but he made an exception for the euro. The euro is poised to make a major comeback based on a chart analysis. Cramer states that one of the main reasons that the euro has been stuck at the bottom of the charts is the huge difference in the interest rates between the United States and the eurozone member states.
{ 0 comments… add one now }