With an ever-increasing global market, do physical currencies tied to national governments actually hinder trade?

 

The United States has the dollar, Mexico has the peso, and Great Britain has the pound. Within their individual borders, having a single currency provides a streamlined, unified system for appropriating value in an exchange. But when traveling outside national borders, currency can become confusing–what was ‘worth' one amount in one country takes on new value in another; the physical bill or coin is literally worth nothing as it can't be readily exchanged in the visiting country for goods, and its assigned value changes based on fluctuating exchange rates. What could buy a pack of gum in one country could buy a steak dinner in another.

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