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What's So Hard About Hard Currencies - Business - Nairaland

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What's So Hard About Hard Currencies by ameri9ja: 2:38pm On Aug 05, 2018
I really want the answer to this.

Can anybody please tell me why Dollar, Pound, Euro are called "hard currency"? 
Anybody?

(And please don't tell me it is due to exchange rate. Even when one naira equalled two USD, nobody called naira hard currency.)
Re: What's So Hard About Hard Currencies by phr33man(m): 4:05pm On Aug 05, 2018
Because it's hard to find in our country. grin grin grin
Re: What's So Hard About Hard Currencies by Nobody: 4:08pm On Aug 05, 2018
Cos they can break something when you drop it.


Lool no no really, it’s cos of their unshakable value
Re: What's So Hard About Hard Currencies by ameri9ja: 5:36pm On Aug 05, 2018
mrAMG:
Cos they can break something when you drop it.


Lool no no really, it’s cos of their unshakable value

Makes no sense. Why the adjective "hard".
Also some of those currencies go into tailspin sometimes like during depressions
Re: What's So Hard About Hard Currencies by ameri9ja: 5:37pm On Aug 05, 2018
phr33man:
Because it's hard to find in our country. grin grin grin

Makes sense. But then why is Israeli shekel not hard currency
Re: What's So Hard About Hard Currencies by Nobody: 6:08pm On Aug 05, 2018
ameri9ja:


Makes no sense. Why the adjective "hard".
Also some of those currencies go into tailspin sometimes like during depressions


Keyword being sometimes, infact rarely. Even if they do, they bounce back in na time
Re: What's So Hard About Hard Currencies by ameri9ja: 6:35pm On Aug 05, 2018
mrAMG:



Keyword being sometimes, infact rarely. Even if they do, they bounce back in na time

So do many other currencies, like the Israeli shekel and many others including some African currencies. No that can't be the reason.
There are currencies more stable than the USD, yet nobody calls them hard cutrency.
Re: What's So Hard About Hard Currencies by Nobody: 7:27pm On Aug 05, 2018
ameri9ja:


So do many other currencies, like the Israeli shekel and many others including some African currencies. No that can't be the reason.
There are currencies more stable than the USD, yet nobody calls them hard cutrency.

True, another major factor is because they are widely accepted trading options around the world, the US dollar can be spent anywhere in the world and some traders prefer that when doing business than the local currency of wherever their business might be located.

Also, hard currencies are readily available for forex, eg our popular mallam change ya dola
Re: What's So Hard About Hard Currencies by SolidGenius(m): 7:29pm On Aug 05, 2018
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Re: What's So Hard About Hard Currencies by ameri9ja: 7:41pm On Aug 05, 2018
mrAMG:


True, another major factor is because they are widely accepted trading options around the world, the US dollar can be spent anywhere in the world and some traders prefer that when doing business than the local currency of wherever their business might be located.

Also, hard currencies are readily available for forex, eg our popular mallam change ya dola

But why the adjective "hard". How come we don't have hard vehicles (rolls royce, etc), hard banks, hard smart phones, hard shoes, etc. "Strong" would make more sense.
Re: What's So Hard About Hard Currencies by ameri9ja: 7:42pm On Aug 05, 2018
SolidGenius:
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I thought this was exposed as a scam some time ago
Re: What's So Hard About Hard Currencies by Nobody: 8:11pm On Aug 05, 2018
ameri9ja:


But why the adjective "hard". How come we don't have hard vehicles (rolls royce, etc), hard banks, hard smart phones, hard shoes, etc. "Strong" would make more sense.

Really?
Re: What's So Hard About Hard Currencies by ameri9ja: 8:44pm On Aug 05, 2018
mrAMG:


Really?

Yes. I also don't think that's the reason. So, for example, if tomorrow the naira or rand overtakes the dollar, Naira will be called hard currency? I don't think so.
Can someone please tell us the real reason why the dollar is called hard currency
Re: What's So Hard About Hard Currencies by Nobody: 10:21pm On Aug 05, 2018
ameri9ja:


Yes. I also don't think that's the reason. So, for example, if tomorrow the naira or rand overtakes the dollar, Naira will be called hard currency? I don't think so.
Can someone please tell us the real reason why the dollar is called hard currency

There are currencies more buoyant than the US dollar or GBP that are not called hard currency.

If you read my last reply, I said universally accepted tender of payment, you can go anywhere in the world to shop or do business and be able to pay with USD or Euro, the same does not apply to Kuwaiti dinar (for instance) which is currently at $1 to 0.39KWD.

Simply put, if you can spend a certain currency in more than 50% of the countries in the world, then it is a hard currency.


As for rolls royce etc, they aren’t called hard vehicles but luxury vehicles. All the others have adjectives used for them.

Do you get now sir?
Re: What's So Hard About Hard Currencies by SolidGenius(m): 11:57pm On Aug 05, 2018
ameri9ja:


I thought this was exposed as a scam some time ago
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Re: What's So Hard About Hard Currencies by ameri9ja: 11:55am On Aug 06, 2018
mrAMG:


There are currencies more buoyant than the US dollar or GBP that are not called hard currency.

If you read my last reply, I said universally accepted tender of payment, you can go anywhere in the world to shop or do business and be able to pay with USD or Euro, the same does not apply to Kuwaiti dinar (for instance) which is currently at $1 to 0.39KWD.

Simply put, if you can spend a certain currency in more than 50% of the countries in the world, then it is a hard currency.


As for rolls royce etc, they aren’t called hard vehicles but luxury vehicles. All the others have adjectives used for them.

Do you get now sir?

I was just researching this. It says here that hard currency means GOLD, SILVER, and such!!
Re: What's So Hard About Hard Currencies by Nobody: 11:58am On Aug 06, 2018
ameri9ja:


I was just researching this. It says here that hard currency means GOLD, SILVER, and such!!

Re: What's So Hard About Hard Currencies by ameri9ja: 12:00pm On Aug 06, 2018
The opposite of "weak" is "strong"

Top 10 Weakest Currencies In The World 2017by Josiah1150(m): 2:41pm On Mar 25, 2017

1.IRANIAN RIAL

The Iranian Rial is the currency of Iran and it is the weakest currency in the world. 32,037
Iranian Rial is exchanged with 1 US dollar. This is an irony considering the fact that Iran is
Re: What's So Hard About Hard Currencies by ameri9ja: 12:07pm On Aug 06, 2018
[quote author=mrAMG post=70030739][/quote]

I now see how it all started. It now makes sense.
Here is what happened:
"Hard currency" actually applied to currencies that were physically hard like gold and silver
Re: What's So Hard About Hard Currencies by Nobody: 12:09pm On Aug 06, 2018
ameri9ja:


I now see how it all started. It now makes sense.
Here is what happened:
"Hard currency" actually applied to currencies that were physically hard like gold and silver

Lol please sir, are you a lawyer?
Re: What's So Hard About Hard Currencies by ameri9ja: 12:32pm On Aug 06, 2018
mrAMG:


Lol please sir, are you a lawyer?

How did u guess?!

Money fascinates and mystifies me.
What holds the whole system together.
How can a worthless piece of paper from US buy real goods in 9ja!

Just saw this:

Hard Currency and Paper Currency

Money is a medium of exchange that is generally accepted for the purchase of goods and services and for the payment of debts. Money also serves as a “standard of value," meaning that the worth of an item can be described in terms of dollars or

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