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Need reply for below discussion .. The country I have chosen is St.Lucia.The exchange rate between st. Lucia and the United States is a fixed
Need reply for below discussion ..
The country I have chosen is St.Lucia.The exchange rate between st. Lucia and the United States is a fixed rate of 2.70 to one US dollar. A wide range of currencies such as the Canadian dollar, Euro, and British pound can be converted in our banks but the local currency in St.Lucia is Eastern Caribean dollars(XCD), but US dollars are widely accepted. St.lucia's economy depends primarily on revenue from tourism. Most visitors to St.lucia is from the United States than any other country. The average income in St.Lucia is 793 US per capita, in the US that is 5911 us dollars, however, the prices of consumer goods are also around 28.2 percent lower than in the US, So basically if we were to compare income and price levels between the countries it is more expensive life in St.lucia than the US. St.Lucia is a beneficiary of the Caribbean Basin initiative, which aims to facilitate the economic development and export diversification of the Caribbean Basin economics by providing beneficiary countries with duty-free access to the US market for most goods. The single most significant foreign investment in St.lucia is US-based Buckeye partners limited's large petroleum storage and trans-shipment terminal. Additionally, St.lucia foreign relations emphasize mutual economic cooperation and trade and investments. St.lucia and the US do belong to a number of the same international organizations. such as the United Nations, Organizations of the American States, the International Monetary fund, the World Bank, and the World Trade organization.
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