Like, a US dollar is around 3.68 UAE Dirhams. Or 1 Dirham is 12 Indian Rupees, etc. What's up with that?
2007-07-01 08:04:45 · 3 answers · asked by that's me™ 1 in Business & Finance ➔ Other - Business & Finance
Each country can have its own currency, just like it can have its own language. Since people travel, and commerce is conducted across country lines, there has to be some exchange rate to figure out how much something would cost in the other country's currency.
2007-07-01 08:19:03 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
Because all economic situations....the poorer the country is the lesser their money is. Example in Philippines, $1.00 is equivalent to 45.00 Pesos. You can buy a whole lot for $1.00
2007-07-01 08:14:02 · answer #2 · answered by umkr_kmae 2 · 0⤊ 0⤋
I guess it is some sort of pride to be different even the flags are different!
2007-07-01 08:13:17 · answer #3 · answered by Anonymous · 0⤊ 0⤋