Sample International Trade Paper On Turkey’s Currency Exchange

Homework Question on Turkey’s Currency Exchange

  • You have started on your country project…. your country has a currency….
  • The country is Turkey
  1. What is the name of your country’s currency?
  2. What was/is it’s value as of yesterday, today(3/24) and 3/25 thru 3/30 to the U-S dollar? The Japanese Yen?  The Russian Ruble?  The Chinese Yuan?  The Mexican peso?  The Euro?  The Thai Baht?  The South African Rand?  The British Pound? The Swiss franc?  The South Korean Won?
  3. Is your currency worth trading in the open market? Why?  Offer valid reasons.
  4. In your country…. what is the largest business/industry/product? And how would currency exchange rates help/hinder their position for world trade?

Homework Answer on Turkey’s Currency Exchange

Question 1

The Turkish Lira is the name of Turkey’s currency

Question 3

Yes. The currency is worth trading in the open market trade. However, financial interaction with foreign nations require prior knowledge so that one can know the exchange rates with other currencies. This is important because the currency is recognized and accepted all over the globe, the exchange rates in the forex market fluctuates with time; hence the need to keep in touch with the current trend of buying and selling of the currency in the world market.The Turkish economy is not consistent; hence, the need to adjust the currency trading rates with the variations.

Homework Help

Question 4

Being a leading country in the agricultural products, Turkey has a large agriculture and food growing industry. In addition, there are micro economic achievements stalking from lower transaction costs. Despite of the currency use whether in international trade, borrowing in the international markets or simply tourism, the costs of exchange rate to a foreign currency and the exchange rate risk linked to such operations have been addressed by the government.