possible a country using two currency??will there be any advantages and disadvantages??

Question

in this world,possible a country using two currency at the same time???what are they??in that circumstances, what are the advantages and disadvantages??Thank You!!!!

Answer 1

Swiss francs are not used in Sweden, only in Switzerland.

A small country wedged between 2 big ones sometimes uses 2 currencies, e.g. before the euro Andorra accepted both French francs and Spanish pesetas. Just for convenience.

In the occupied territories of east Palestine, both Israeli shekels and Jordanian dinars are currency. The territories used to be part of Jordan before the Zionist conquest and the dinar was therefore in people's bank accounts and tills in 1967 and never discontinued. But as is the way with conquerors, the occupying power allows its own currency to circulate alongside, and since many Palestininans work in Israel it is of course very practical.

Often at international airports you will see many currencies accpeted in the till, though only the home one will usually be used for account-keeping.

When a home currency is depreciating fast because of inflation, sometimes people will keep their savings in a foreign one perceived as a better store of value. Sometimes goods will also be priced in that foreign currency so people have a sense of what the local currency price really means from day to day. This was so in Yugoslavia in the 1980s when the dinar was depreciating and the Deutschemark was the store-of-value. In some S American countries the US dollar was similarly used. There was a time when in Argentina there were or at least seemed to be more US$ than pesos in use.

There has always been some acceptance of Irish currency (IR£, then euros) in Northern Ireland though of course Sterling is the offcial currency.

Answer 2

Don't hold me to it but before a lot of the countries that now use Euros for a time had their own national currency and Euros at the same time, I believe.

i.e. Swiss Francs and Euros are used in Sweden.

Answer 3

Belorussia uses it's own currency, and Russian ruble parrallelly.