THE US DOLLAR, WHICH CAN BE CALLED WORLD REPRESENTATIVE CURRENCY COS OF ITS WIDE ACCEPTANCE, CONTROLS UP TO 60% OF GLOBAL CENTRAL BANK RESERVES AND INTERNATIONAL TRASACTION. HENCE MAKING IT A GLOBAL MEDUIM OF EXCHANGE.
EVERYONE IN THE WORLD KNEW HOW THE EURO CAME TO EXISTENCE. IT EMANATED FROM FROM THE UNION OF MOST EUROPEAN LOCAL CURRENCIES AND TODAY IT IS ONE OF THE STRONGEST AND MOST USED CURRENCIES IN THE WORLD. THE EMERGENCE OF THE EURO SINCE 1999 HAS GIVEN THE US DOLLAR TOUGH COMPETITION. REPORTS (FROM EURO CEN BANK) ESTIMATED THAT SINCE EARLY 2007 THE VALUE OF EURO NOTES IN CIRCULATION HAS RISEN TO OVER € 600 BILLION, MAKING IT THE CURRENCY WITH HIGHEST VALUE OF CASH IN CIRCULATION IN THE WORLD!. MORE THAN 25% OF GLOBAL CENTRAL BANK RESERVES ARE IN EURO MAKING IT A STRONG EMERGING FORCE. THE EMERGENCE OF THE EURO SINCE 1999 HAS GIVEN THE US DOLLAR TOUGH COMPETITION.
NOTE :
YES IS A REAL COMPETITION. BUT HOW DOES THAT CONTRIBUTE TO THE WORLD?
PART 3 WILL THROW MORE LIGHT TO IT. OWH! HAVE U READ IT ALREADY? .












