Question

What impact does the exchange rate across our Belizean borders in the country of Belize has on our local (Belize) businesses? Discuss and include examples in your response..

Answer 1

Belize is country which has a developing free market economy .The country is much dependent on foreign tourism earnings and the exchange rate across the belizian border in the country are different for currencies of different country it gives a major boost to the local businesses in belize ,the foreign people spend their converted belize currency and purchase different variety of fruits and other items so it is a source of earning for the local businesses.presence of these currency exchane centres at the border area of the country ads to the growth of the businesses because the foreigners easily convert their currency as per the belize currency rate and can buy different thing which is benefit of the local businesses .so i can say that presence of exchange rate does not much affect the foreigners and the businesses in Belize in return of easily availability on money exchange counters in return of a minimal exchange rate at the border areas of Belize.