There are many factors that effects make the country’s currency a world’s currency. The US dollar is the most used currency in the world. Every country wants a sufficient amount of dollars in their foreign reserves.
The Federal Banking System of the United States, commonly known as the Fed, again raised the interest rate by 0.75% on the 21st of September 2022. America is facing 40 years high inflation rate. The monthly inflation recorded in August was 8.3%. Just in a year, the Federal Open Market Committee (FOMC) increases the interest … Read more
Now the new 5th largest in terms of GDP in US dollars is India economy. India became the 5th largest economy by surpassing the UK after Elizebath’s II death. Behind the United States, China, Japan, and Germany, India with a GDP of 3.2 billion dollars are the current 5th biggest economy. If we talk about … Read more
The island country located in South Asia is currently suffering from an economic crisis and bankruptcy. Due to the bad economic policies, unnecessary subsidies, continuous increase in foreign debts, and decrease in foreign exchange reserves Sri Lanka’s Economy collapsed. On the 12th of March 2022, the Sri Lankan government declared bankruptcy on the external debt … Read more