Samoa Currency

A lot of Economists favour this approach when measuring the level of macroeconomic strength that an economics has vis-Ã -vis its neighbours, as an external currency measures the buying strength that a given nations has on the global markets. However, it is possible to set and/or manipulate formal foreign currency conversions - resulting in receivables of the countries with an undervalued or overvalued currency - and do not necessarily correspond to a market-determined foreign currency conversionrate.

Even if the formal currency parity is market-dominating, it is often a relatively small group of goods and service (the group that the economy trades) that determines foreign currency parities and cannot measure the value of the greater group of goods that the economy is producing. Moreover, OER-converted GNP is not a good way to compare national GNP over a period of timeframe, as an appreciation/depreciation from one year to the next will increase/decrease the value of OER GNP, regardless of whether the GNP in national currency has fluctuated.

GDP, actual price (local currency).

Samoa Central Bank warns against digital currency fraud

Samoa's recent declaration against the Samoa Central Bank's move against the speed e-currency reflects a persistent problem in a number of familiar nations. Samoa Central Bank (CBS) has published a declaration alerting people to the growing number of fraud involving investment in electronic currencies that are invading the state.

The declaration calls on Samoan people to be particularly careful when investing in electronic currencies and to immediately approach CBS if they have doubts about the possibility of investing in them. The Declaration states that: But Samoa is not the first to deal with the issue of currency fraud.

Ever-increasing interest and inflated capitalisation in the global currency markets have made it possible for smart fraudsters to fall back on the hope of naive and fortunate people. Consequently, the world' s key financial institutions have begun to alert the general population to the risks of illegal electronic currency fraud.

In addition, the government in Bolivia urged the public to oppose participation in whatsApp's private group currency system. Also in May 2017, the Hungarian Central Bank, Magyar Nemzeti Bank, announces the establishment of a crypto-currency taskforce to combat the alleged OneCoin fraud. But the fact that nations are warning against the use of e-currencies is not necessarily the beginning of the end of the new technologies, as India shows.

Following a series of alerts about the genuineness of electronic currency, the India authorities have appointed a group of officials from various governments such as the Reserve Bank of India, the State Bank of India and the NITI Aayog think-tank to investigate its use in the state.

In May 2017, the Indian Ministry of Finance opened the door for comment and proposals on the inclusion of e-fund. If such measures are taken by governmental authorities that are suspicious of cryptography, they may in turn result in appropriate rules and a more comfortable relation to the use of electronic currency.

A Los Angeles-based artist, author and vet, Dan is interested in the world of academia and engineering, contemporary affairs, people, economics and strategy-aim.