This might seem like a simple question to many of you economics students, but I never took an economics course; therefore, I am a novice about this subject.
The dollar always seemed to be worth about $1.50 to $1.75 a British Pound for years, but within the last year or so it sank to where High Street banks are only valuing it to about $2.05 to a Pound.
Why is this, and how did it happen?
What would the Americans need to do if they wanted their dollar to be more at par with the British Pound? Or, what would have to happen in the UK for the British Pound to sink lower in value to be nearer to the USA Dollar level?
Thanks! As I said, I am not an economist, so please have patience with my simplistic questions.
2007-06-07
06:48:18
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5 answers
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asked by
Rita K
1