Once the country interacts with another country in terms of
trade and business, the next important business establishment that must be connected
with another country is the monetary exchange institutions. As international
trade continues to connect almost all countries in the world, global currency
unification is also an important aspect to consider in order to eliminate the
foreign exchange variation.
Furthermore, currency risk fluctuation can be
minimized with the program of singular currency. The present currency unification program that
can be a good example for Foreign Exchange unification benefits is the Europe’s
Euro currency. Though the currency
program of Europe experienced some negative economic turbulence but the positive
output compared to its negative side-effects are far comparable.
On the contrary, ASEAN member countries are
is having a positive outlook of unifying the currency in ASEAN and Asia as a
whole in order to achieve the balance of foreign exchange trade. As such, multinational companies are in an
advantage position in transporting their goods from one country to another to
achieve the supply chain programs within the multinational companies.
Offshore banking in the future will operate like a local
bank for the reason that the frequency of international banking transaction
will be like the local day-to-day banking transaction. With this case, unification of currency will
be applied to eliminate currency losses due to currency fluctuations.
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