Media Blog
Weak Currencies to the U.S. Dollar Based on 2016 Info
As you probably already know, the currency exchange rate fluctuates daily, and there are a number of factors that can have an effect on it. The recent Brexit vote is a perfect example of how political events can shake up a currency. It had a dramatic effect on the value of the pound compared to top currencies like the U.S. dollar and euro, and the British stock market also dipped down as a result of the news. Below are some of the weakest currencies compared to the U.S. dollar that you may consider purchasing from Xchange of America, especially if you plan on traveling in the future.
The Chinese Yuan remains devalued
As some popular politicians in the United States have noted, the Chinese yuan has been devalued on a regular basis compared to the U.S. dollar, purposely. The People’s Bank of China directly devalues their currency for particular economic reasons. One result of this devaluation is that Chinese exports become cheaper compared to the dollar, which strengthens China’s export economy. This means that you can also buy more yuan for the dollar if you plan on traveling to China, so there are some benefits to travelers. You can always contact Xchange of America to get regularly updated information on the value of the U.S. dollar to the yuan, as the info is updated regularly.
The Canadian dollar took a dip
The Canadian dollar was almost equal compared to the U.S. dollar back in 2011. But it has dipped significantly since then due to various economic and other factors. In 2015 it dipped to as low as around 0.7 per U.S. dollar, and although it has recovered slightly, many economists predict that it will continue to be weak compared to the U.S. dollar for some time. The effect has partially been due to declining oil prices which dramatically dropped in 2015 and continued to drop in 2016. That means that right now it is a great time to visit Canada if you are living in the United States, and you can purchase Canadian currency right on our website anytime you plan on scheduling a trip there!
The Vietnamese dong is also weak
The Vietnamese dong is sold by Xchange of America’s affiliate Dinar Inc., and this currency has been weak compared to the U.S. dollar for some time. It is considered to be one of the weakest currencies, and you can generally purchase several thousands for 1 USD. This means Vietnam a great country to travel to, as you can travel on quite a low budget and enjoy a great vacation staying some of the top hotels and enjoying great food and other activities. Vietnam is also a beautiful country with several huge markets where you can buy interesting souvenirs, and it is well known for its interesting street food. To learn more about currencies that are currently weak compared to the U.S. dollar contact, Xchange of America today by calling us at 1-888-800-1977. You can also see exchange rates posted on our homepage which are updated daily.