A few weeks ago 1 pound = over $2 and now it is 1 pd = $1.25 Wish it was that way this past May when I was there on Holiday. When I was there it was 1pd = $1.99 aprox. What is the change based on?
2007-07-17 12:27:32 · 4 answers · asked by Anonymous in Politics & Government ➔ Immigration
I got my info at FXCM at this site:http://www.fxcmtr.com/education/what-moves-rates/money-worth.html?engine=ovtus+val&keyword=us+dollar&CMP=SFS-701300000003QNNAA2
I put in US to British PD and it still came up w/ 1.25 If this is wrong I need to find another site.
2007-07-17 13:12:35 · update #1
its based on the value of the forex ( foreign exchange market ) its similar to the stock market in function.
Things like rumors, significant news announcements, disasters like katrina or the subway bombings affected price.
investment situations.
Its hard to explain all the things that can affect this.
The exchange rates of currencies are changing constantly if you are an actual trader. But for people who are just exchanging for travel or whatever you will get the exchange rate based on the close rate of previous day.
The current rate as of now is 2.0472 which is to say the pound is worth 2 dollars and 4-5 cents.
2007-07-17 12:55:53 · answer #1 · answered by sociald 7 · 0⤊ 0⤋
I wish you were correct, but you aren't. The current exchange rate is 1 pd = $2.04. It's the lowest the dollar has been against the pound in over 25 years
2007-07-17 12:53:58 · answer #2 · answered by huduuluv 5 · 0⤊ 0⤋
Sharona,
You need a new website. Check out x-rates.com £1 is currently at $2.04.
2007-07-17 13:19:17 · answer #3 · answered by Highlandbound 6 · 0⤊ 0⤋
It's based on the relative supply and demand for each currency.
2007-07-17 12:31:08 · answer #4 · answered by Anonymous · 0⤊ 0⤋