2007-11-28 02:08:44 · 5 answers · asked by Anonymous in Politics & Government ➔ Government
It's because the power of our money is strong. People have faith in US currency because they have faith in the US. Despite the fact it's weaker than Canadian money and the Euro, it's still accepted virtually worldwide regardless of the currency used in that country, whereas the Loonies and Euros aren't always. Colombia could take a turn for the worst and their money becomes even less valuable, that's why it's not valued.
2007-11-28 02:26:09 · answer #1 · answered by Pfo 7 · 0⤊ 0⤋
Why is it not? Imagine you started printing Biscotti notes. How much value would they have? How many Biscotti notes would equal a dollar? The answer is determined by what backs up the Biscotti notes. If you redeem them for something of value or if you just print a bunch of notes. That is why Colombian Pesos are not worth many American dollars.
Currency is worth whatever you can get in exchange for it. In countries where they just keep printing more and more notes to pay debts, it causes that kind of inflation. Every country has only so much to give that is valuable to other countries. The more notes you print and circulate, the smaller part of that finite value each note represents.
.
2007-11-28 10:16:38 · answer #2 · answered by Jacob W 7 · 1⤊ 0⤋
Guess a Columbian Peso isn't worth chit.
2007-11-28 10:12:40 · answer #3 · answered by Anonymous · 1⤊ 0⤋
That's the exchange rate? Columbian pesos aren't worth much, are they?
2007-11-28 10:12:15 · answer #4 · answered by booman17 7 · 3⤊ 0⤋
That sumatran coffee is good.
2007-11-28 10:12:03 · answer #5 · answered by timssterling 4 · 2⤊ 0⤋