If I were in Europe today and I converted $3000.00 into Euros I would get $2280.42 does this mean that ..read?

Question

the American money is worth less in Europe than in the United States?

Answer 1

It's not so much that it's worth less in Europe, it's just that the value of one Euro is more than the value of one dollar. The relative values are the same, whether or not you are in the U.S. or Europe. So, if you brought 3000 Euros to the U.S. and exchanged them for dollars, you would get $3949.32. The dollar is worth the same in both the U.S. and Europe. The Euro has a higher value in both places.

Answer 2

Not necessarily. Because while a Big Mac (for example) may cost $2 here, it might cost 1.50 Euros. You're still getting the same product, just for different units of a different currency.

However usually you will find that when the Euro is this high, that things will seem unusually expensive in Europe when you pay for them with dollars.

Answer 3

No ... different countries have different currencies. Those currency units are not equal in value to one another, any more than a cheeseburger costs the same as a banana. What you've witnessed is called the "exchange rate", where you swap your home currency for the foreign currency.

You do NOT swap $3000 for $2280 as you wrote. You swap $3000 for 2280 Euros -- you exchange dollars for something else, Euros. You end up with the same value of money, it's just in a different currency. A dollar is worth the same, but as a practical matter you need to follow the local custom of using the local currency instead.

Answer 4

First of all do not be dismayed by all the attacks you see here against Islam. As you can see all such messages are filled with ignorance and assumptions which are baseless. I am an American who embraced Islam and the best advice I can give is to read up on the basics of Islam first. Be sure first & foremost that this is the decision you want to make. It should not be done for anyone's sake, but rather only to please Allah swt. It is vital for you to get networking with a group of sisters in your local area who can sit with you and discuss things. Many you will find will be from overseas, but many also will be born and raised in the UK and also British converts, so they will understand your point of view best. To actually convert all you have to do is say the declaration of faith, preferably at the mosque with witnesses. Then try and attend any classes they offer. You will find it all very new, even a bit confusing in the beginning, but thats perfectly normal. Dont try to be a "super-muslim" right away. If you choose to embrace Islam, nurture your new found faith by educating yourself and inshallah (God willing) it will grow. Best of luck.

Answer 5

In nominal terms yes. But in real terms it all depends on what you can get for that lower exchange value US$.

For example if a loaf of bread in the U.S. costs 1 dollar and
a loaf of bread in France costs 1 dollar US(0.76Euro) then the value of a US dollar in the US is the same as the value of a US dollar in Europe (at least for bread).

Peace

Answer 6

yes,
if i had $3000, i would have a lower amount, 2280.42 eruo
1 eur > $1

Answer 7

compared to euros yup

Answer 8

yes