Quote from: stompix on October 08, 2020, 10:04:02 PM

Quote from: teosanru on October 08, 2020, 08:50:06 PM

You are not getting the point just because a currency is pegged stronger to other doesn't means it is more valuable. The Kuwaiti Dinar is the highest valued currency yet the economy of Kuwait is far behind many.

Far behind? They have a GDP per capita on par with Spain, is Spain also far behind others? In terms of GDP PPP they are even matching Switzerland.

Does this argument makes sense? You know who is the number one country as per GDP PPP per capita? It's Qatar. Yet kuwaiti dinar is 11 times qatari Rial. While Kuwait is on number 8? I thought only this OP thinks currency are valued this way but there are many people for sure. If you still have confidence in what you are saying. See Oman and bahrain currency. GDP PPP is a metric to see strength of currencies with regards to each other but you can't see currencies quotes as a metric of strength to conclude this one has greater GDP PPP.

Quote

Quote from: teosanru on October 08, 2020, 08:35:26 PM

I think first of all you are talking about Kyrgyzstan. Well it has a well defined currency Pegged at 80 Som to 1 USD. What makes you say it's a worthless currency?

The som is not pegged to the USD, where did you get that information?

It actually was on assumption that Kyrgyzstan's national currency should be pegged to USD. There is a rate quote for it on many tracking websites. Even if it's not directly pegged to USD. You might get a two way quote for it pretty easily. So it's definitely not a worthless currency.