2006-08-31 16:11:17 · 6 answers · asked by MANLY EGO 2 in Business & Finance ➔ Other - Business & Finance
Currency value and economic performance often have little to do with each other. Witness China growing at 9+% per year and the US around 3%, yet the Renminbi is pegged to the dollar. More important is the supply and demand for the currency and the interest rate differentials between currencies. £/US was close to parity in the mid-80's, but the US economy wasn't all that strong at the time.
As most world commodities are priced in dollars, it usually behooves the central banks of other countries to adjust their money supply accordingly.
2006-08-31 16:23:43 · answer #1 · answered by szydkids 5 · 0⤊ 0⤋
Why is the dollar always worth more than a nickle?
2006-08-31 16:14:26 · answer #2 · answered by fibreglasscar 3 · 0⤊ 0⤋
Because the Brits are snobs and they think they are better than everybody.
2006-08-31 16:14:01 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You are comparing apples to oranges.
2006-08-31 16:16:49 · answer #4 · answered by Lee J 4 · 0⤊ 0⤋
they don't use a base 100 monetary system.
2006-08-31 16:14:50 · answer #5 · answered by Norman 7 · 0⤊ 0⤋
bECAUSE u Americans ARe stupid wankers!, we Brits are just better at everything....
2006-08-31 16:13:01 · answer #6 · answered by Jay P 2 · 0⤊ 0⤋