Why is per capita income of different countries is calculated in Dollars not in their own currencies by the World Bank?
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5
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per capita income of different countries are calculated in dollars not in their own currency by the World bank in order to Facilitate comparison.....
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8
Answer:
The per capita income of all the calculated in dollars becaus:
- Dollar is an standard international currency.
- It is the largest used currency in the world.
- Dollar is the base currency for all the export and import pricing.
- purchase power parity issue
- In today's market the currency have a floating rate against the dollar and the exchange rate varies with time.
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