Question

What are the benefits of using a single currency within a country?

Answer 1

Answer:

Having a singular currency eliminates currency exchange fees and all prices would be quoted in the same currency which makes it easier to facilitate.

Explanation:

Answer 2

Answer: There are many advantages to having only one currency within a country. First lets look back right as America beat the British and became a free nation. At first all the states practically ruled themselves and had their own currency, so some states had different currency then others. For this to happen if you wanted to go to another state you would have to change all your currency to theirs. And some states the currency would be worth more or less. One benefit then would be you do not have to transfer your currency anytime you travel to a new state. Also having one currency helps with not having state try and downgrade each other. Having one type of money keeps everyone from trying to say their system is better. Finally you can have one National Bank. If you had different currency you could not have one big bank, as many complications could occur. Switching to one currency has the benefit of decreasing the chances of complications that can occur in a National Bank drastically.

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