How will the use of currency affect the Forex
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  1. #1
    Join Date
    Apr 2006
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    Default How will the use of currency affect the Forex

    I know everywhere you read that paper currency and coinage are being used less often. Will the transition from a paper to plastic negatively affect the Forex? A part of me thinks it won't, because even if were are using mini money and things like that we are still using currency. I am not sure, can anyone shed some light on this for me?

  2. #2
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    Apr 2006
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    I never thought of that Trader, I am assuming you are correct in your reasoning. Since we are still using currency, just in another form, there shouldn't be any negative repercussions. Shouldn't doesn't mean there won't be though...

  3. #3
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    Apr 2006
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    I agree, currency is currency no matter what it is made of. It is silly to think because it is plastice instead of paper, that the market is going to suffer. Besides, I think the transition is going to be slow enough that it will not have a negative effect.

  4. #4
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    Apr 2006
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    Quote Originally Posted by trader
    I know everywhere you read that paper currency and coinage are being used less often. Will the transition from a paper to plastic negatively affect the Forex? A part of me thinks it won't, because even if were are using mini money and things like that we are still using currency. I am not sure, can anyone shed some light on this for me?
    Good question, but like the last post said it is a very slow transition. It started with debit cards years ago, and they are just now getting to the point that everyone has one. I wouldn't worry about it at all.

  5. #5
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    Apr 2006
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    Quote Originally Posted by ibpippin
    I agree, currency is currency no matter what it is made of. It is silly to think because it is plastice instead of paper, that the market is going to suffer. Besides, I think the transition is going to be slow enough that it will not have a negative effect.
    I guess that is true, I never thought about the fact that we started the transition years ago. I guess I overlooked somethings, before I started to wig out.

  6. #6
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    Apr 2006
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    Going from physical to digital will not do anything, until there will be one single currency. And digital form will encourage that.

  7. #7
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    Apr 2013
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    9
    yeah I am agree with your statement.if use plastic instead or in case of paper then it will be hectic for everybody .
    its better that we use online transfer.I have one service where we can do things easily

    Currency Online - Foreign Currency Exchange, Money Transfers, International Payments

  8. #8
    Join Date
    Dec 2012
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    163
    Quote Originally Posted by trader View Post
    I know everywhere you read that paper currency and coinage are being used less often. Will the transition from a paper to plastic negatively affect the Forex? A part of me thinks it won't, because even if were are using mini money and things like that we are still using currency. I am not sure, can anyone shed some light on this for me?

    Money is money whatever the format. No one can reject money due to its format.

  9. #9
    Join Date
    Oct 2011
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    1,183
    Currency, whether it is in paper or plastic, is not going to have much of an impact.. a better idea would be to use the landfill, recycle that plastic and use it for printing the cash out..

  10. #10
    Join Date
    Jun 2013
    Posts
    10
    Money is that which is in public circulation either it is (Soft money) made of paper or in hard money (Coins) designated by the governing body.

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