What is the deal with out exchange rates??
I remember 10 years ago, the exchange rate from the dollar to the pound was around $1.40 for one pound.
Now , I just checked and it is over $2.00 now to buy one pound.
To buy a one pound American Express Travel Cheque , costs $2.22 !!!
Do these exchange rates level out when you compare them to the actual prices over there or not??
I am feeling like a third world person almost traveling to a first world country!!
2007-08-31 08:41:23 · 11 answers · asked by Ron 1 in Travel ➔ United Kingdom ➔ Other - United Kingdom
How expensive is it now?!!
2007-08-31 08:42:01 · update #1
The dollar is sinking through the floor because the way the US has been spending money on things like flattening Iraq. This war has to be paid for in some way. It thought it was going to use oil revenue to pay US companies to reconstruct Iraq, but that scheme went haywire. So the dollar plummeted, meaning that every other country is paying to finance the US bloomers.
Your getting a lousy rate for the dollar is a (very partial) payback time.
2007-09-01 06:51:30 · answer #1 · answered by Sodem O 4 · 0⤊ 0⤋
The Economist publishes a Big Mac index to track real buying power against exchange rate fluctuations. It shows the pound is overvalued but not by that much - just 18%. That means the dollar was overvalued for all the years it was at $1.45 to the pound.
2007-08-31 08:51:14 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I don't know about the Americans but I'm a Spaniard living in the UK for the last 16 years, and everytime I go back home I can't believe how cheap everything is, and how people seem to be able to enjoy a decent lifestyle without having to earn enormous amounts of money by working their guts out.
2007-08-31 11:09:50 · answer #3 · answered by fed up woman 6 · 1⤊ 0⤋
well, American money sucks right now lol. I went to England in December and the exchange rate at that time was about $1.90 to £1, and today it is $2.02 per £1. (That doesn't include whatever commission made at the place you get the money exchanged lol)
Also, things are generally more expensive there. For instance, I went to the cinema there in December, and it cost £7.30, making the exchange, at that time, $13.87, whereas I can go to the movies here in California for $9.50... with the exchange as it is today, that cinematic experience will cost me about $14.75...lol
(We really need to boost our economy, but instead we like to outsource our jobs...or give em to illegal immigrants lol)
2007-08-31 09:02:01 · answer #4 · answered by Clovie 4 · 0⤊ 0⤋
My cousin has just been here from Canada and I know she felt the pinch by the end of her stay. Just imagine how someone feels when they go from China thier exchange rate is around 15 to 1!
2007-08-31 08:54:42 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Welcome to rip off Britain.
At the moment the Dollar is weak against Sterling and the Euro but if you are visiting the UK, that's the least of your worries. Everything over here costs at least double what you'd expect to pay in the US, even after you've been fleeced by the exchange rate.
2007-08-31 08:50:46 · answer #6 · answered by Jack 4 · 5⤊ 0⤋
Europe has become very expansive since they started using the euro, I even understand that the living expense for people in Europe is very high. I paid just a few days ago $ 1.42 for 1 euro, several years ago I paid 76 cents. We just have to watch what we buy, I found that staying in a Bed and Breakfast is a lot cheaper than staying in a hotel and a lot more fun.
2007-08-31 09:05:28 · answer #7 · answered by Tea C 4 · 0⤊ 2⤋
I remember when a pound was worth £3. I was 10. So think yourself lucky.
2007-08-31 08:46:06 · answer #8 · answered by jeanimus 7 · 2⤊ 0⤋
I think it balances out. Things in the US cost a lot more than they do over there. Its like a pretzel over here is about $2 over there is like less than a pound.
2007-08-31 08:50:17 · answer #9 · answered by Anonymous · 0⤊ 2⤋
The dollar has declined due to US fiscal policy.
2007-08-31 19:14:02 · answer #10 · answered by brainstorm 7 · 0⤊ 0⤋