Why currencies in different countries having different rates?

Answer 1

it's based on their economic structure. A country that exports a lot of goods and imports a lot of goods will have a higher currency because they have a two economy that beneftis the majority. Giving that country a large GDP (Gross Demostic Product).

whereas if a country only really imports goods but doesn't have a lot of exports they will have a lesser value currency.

They can make up the difference by investing abroad or looking into other ways to balance the economy.

Answer 2

I think most countries base their monetary system on gold, so it would have to be how much gold that particular country has in its vaults. Think Fort Knox....