Single global currency

            In this report I will write about the advantages and disadvantages, of connecting the global with a single currency; this report will analyze the important information.

            Starting with the advantages of a single global currency; this action would save a lot of time and effort for businessmen and travelers. It will also help us to save money. We are losing some money through money exchanges when traveling, but this action should solve the issue. For example, we had to take our father to Thailand, due to his brain stroke, for treatment. That medical treatment took from my father 4 months to be able to walk again. That period of time cost us Dh. 300,000 including currency exchange, For every Dh 10,000 the money exchange used to take Dh 1,500 and if we take that from the total amount which is Dh 300,000 it will be 45,000 which is a lot.

            Turning to the disadvantages, I think that the only big looser is the money exchange companies. I think countries will never lose from the single global currency in trading, because they can increase the cargo fees which will cover their losses. But this action is impossible, because of the differences in global currency between the US dollar, the Euro and the British pound. They will never accept this action at all. It’s not for their benefit.

            In conclusion, having a single global currency is good for trading and traveling only.