Has the Euro exchange rate ever been stronger than the British pound? So?
As you get more dollars or euros to the pound.Has their been a currency stronger than the British pound
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Tagged with: british pound • currency • Euro • euro exchange rate • exchange • pound • rate
Filed under: Currencies
I am from India – poor nation currently recording high economic growth. India still imports more than she exports and runs a current account deficit that should have caused the external value of the Rupee to fall. But it is contiously rising simply because of huge inflow of foreign portfolio and direct investments into India. Many people in India feels happy that the Rupee is strong – the opposition politicians are unable to criticise the Govt. because the Rupee is rising. But this foolish happiness is costing the country heavily. The Rupee appreciation is making India’s exports less and less competitive in the internationa markets. Many industrual units are downsizing their operatons and soon the loss of jobs may exceed millions. Except for the technically qualified economists, all others tend to think the economy is stronger because the Rupee is appreciating. Such misleading notions are hurting. The art of managing economies lie not in making the currency stronger or weaker but in doing such things that would make the currency stable and stop hurting the international competitiveness of the country’s exportables based on comparative real advantage. With continuous depreciation of the dollar, US exports have started growing. One of the important challanges that EU has to deal with from now on is how to stabilise the external value of the Euro to protect employment and face a decline in real wages.
Strong or weak currencies do not reflect the stregth or weaknesses of an economy. It is better to avoid picking up misleading indicators to rejoice. Britain will have a problem if the pound remains stronger than the Euro. British economy does not have the strength to absorb the costs of the stronger Pound.
I am sorry to say all this. This is the Truth. But I know the Britishers are a capable nation and they will solve their economic problems with ingenuity, grit and determination. I am only afraid that the foolish ideas of poor, uneducated nations like India does not spread to people of the advanced nations in the West.
Dear senekon ,
I read your comments and it’s shows your poor knoledge in economics.may you are a frustated NRI,who just thinking about his profit.Realy shame on you.
And your just a cunt