The recent Economic Crisis stumbled the value and ratings of the Currency US. Dollar. And that results in the chance for another currency to gain access to Global Currency. As many economists said the next global currency will be Yuvan, Yen, Euro in the order. Actually, the Euro has the ultimate character to become a global currency but the recent Economic crisis of the European Union. This caused a higher rate of cuttings to the currency Euro. This is why if you are interested in global trades, you need to look for the Best Trading Platforms that are safe and reliable.
Euro Chances to Become Reserve Currency :
If the unexpected crisis doesn’t happen in past then definitely Euro will become the next Global Currency. The Euro is the currency for 20 European countries. The present situation of the European Union and the people’s employment rates constantly decreasing the Euro value. And Greece is playing the main role in the currency value changes in the Eurozone. The debts of European banks and debts of other countries also are the reasons for the rapid decrement in the currency Euro. Recently Cyprus issue also damaged Euro in depth. The Cyprus banks are closed and they are charging high taxes on the money deposited in the Cyprus banks. Whenever they released this news to the media the Cyprus people crowd started at the banks. It resulted to can’t handle the process of transactions and they decided to close the banks for some time and even ATM’s were also stopped working as the money is completely withdrawn from the machines and they didn’t refill again. This way the Cyprus people faced a debt crisis. So, because of these reasons, the Euro lost its chance to become the next global currency. And still, Euro has the ability to gain its strength to regain its status but, this only possible when this crisis and debts processed completely.
Chinese Yuan(Renminbi) Chances to Become Reserve Currency:
Coming to China and its currency Yuan we should say it has the ability to become the next Global Currency. The reasons for this are China’s Employment rate, Rapid growth of China’s Economy, and Growth in all sectors. In my opinion, China is the country which is on the fast track and beat America in all-round development in all sectors. China’s recent press releases say that china is eagerly waiting to beat America’s global name and to achieve the global currency place. This is possible for China because many foreign investors are shifting to China as a safe investment area to grow their business. We surely predict China’s growth in all sectors in the statistics in business-related news channels. China’s army strength and weapon capability are also very strong. Recently China said we are supporting North Korea and America supports South Korea. North Korea has daringly announced the battle with South Korea that’s the reason and this results in China’s activity against America. So, the Chinese Yuan may have the chance as a Global Currency in the next coming years.
Japanese Yen Chances to Become Reserve Currency:
The small country which is beating the world’s big economic countries like America and China is one and only Japan. Japan got independence in the year 1952 from US Occupation after world war 2.After getting independence Japanese people are in a position like a fisherman with no fishes in his bag. But the fisherman is in the middle of the ocean.
Then Japanese people got motivated by several activities help by the motivators in that country. Japanese realized their talent and started taking action. They grew day by day rapidly and still growing day by day. In one day Japan beats America and it already on the same track with the same position equal to China in the race. Analysts said Yen is having the same preferences as Yuan to become the Global Currency. Many transactions in the South Asian regions are being processed in the Yen only. Some other country bankers allow customers to open their account in Yen for smooth transactions. Japan is called “The country which agriculture in the Ocean”.
So at last the only two currencies at present that can beat USD is the Chinese Yuan and the Japanese Yen. Euro occupies the next place after these two currencies.