Which one of the following is not a hard currency?

This question was previously asked in
RPF SI (2018) Official Paper (Held On: 19 Dec, 2018 Shift 1)
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  1. Kuwaiti Dinar
  2. U.S. Dollar
  3. European Euro
  4. Canadian Dollar

Answer (Detailed Solution Below)

Option 1 : Kuwaiti Dinar
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The correct answer is Kuwaiti Dinar

Key Points

  • The Kuwaiti Dinar is not considered a hard currency.
  • Hard currencies are typically those that are widely accepted around the world and are known for their stability and reliability in the international market.
  • The U.S. Dollar, European Euro, and Canadian Dollar are examples of hard currencies.
  • Hard currencies are often used in global trade and are held as reserve currencies by central banks.
  • The Kuwaiti Dinar, while valuable and stable, is not as widely accepted or used in international trade as the currencies mentioned above.

Additional Information

  • Hard currency refers to money that comes from a country with a strong, stable economy and is widely accepted around the world.
  • The value of hard currencies typically remains stable over time, even in the face of economic uncertainty.
  • Examples of hard currencies include the U.S. Dollar, European Euro, Japanese Yen, Swiss Franc, and British Pound Sterling.
  • These currencies are often used in international transactions and are held as part of foreign exchange reserves by countries around the world.
  • The status of a currency as "hard" can change over time based on the economic and political stability of the issuing country.
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