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We don't produce anything in the uk anymore so how come our currency is so strong. Surely you have to sell things to make money.

2007-01-14 14:55:44 · 8 answers · asked by smudgeuk9 3 in Science & Mathematics Geography

8 answers

Because the pound is based on a different value system other than the capitalistic one in the United States. The % of the dollar is so complex that it can lower the value of the dollar depending on the price of gold by the pound. To put it lightly, a pound weighs more than a dollar. Hope this helps.

2007-01-14 15:05:08 · answer #1 · answered by Yafooey! 5 · 0 0

Market dynamics dictate the value of one currency versus another, more often than not as a reflection of prevailing socio- economic and socio-political conditions. For example: budget deficit, unemployment, the balance of trade (the difference in value between imported and exported goods) and GDP.

2007-01-17 13:48:58 · answer #2 · answered by Alain M 2 · 0 0

Well take a look at the UK, then take a look at the quality of life in the US.


You will very soon see why the pound is mightier than the dollar.

Sorry, but you are comparing civilisation with barbarism.

2007-01-14 22:59:41 · answer #3 · answered by Not Ecky Boy 6 · 1 1

Many many years ago Napoleon Bonaparte called us a nation of shopkeepers, shopkeepers don't make things they sell them, were still doing it and making a good living.

2007-01-15 05:06:00 · answer #4 · answered by john k 5 · 0 0

Just had to say thecatthatatethecreams source has tickled me
Thanks

Too add I'm still laughing

2007-01-14 23:05:01 · answer #5 · answered by Anonymous · 0 0

because they're countries finances are poorly run

2007-01-14 23:00:12 · answer #6 · answered by Anonymous · 1 0

WHO CARES AS LONG AS WE DONT GET THE EURO

2007-01-14 23:57:26 · answer #7 · answered by Anonymous · 2 0

it's better

2007-01-14 23:00:44 · answer #8 · answered by Anonymous · 1 0

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