why British pound carries more value than us dollars?
want to know what determines the value of currency.
Extra tags:
- value of british pounds 17 years ago,why british pound is more stable than us dollar?,why pound carry more value than dollar,why pound is more value than dollar,why poundmore value than us dollar
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Tagged with: british pound • currency • pound • value
Filed under: Currencies
money is a item for sale like any other. I wave a dollar: one squirrel will buy my dollar off me for 45 nuts, another will pay 50 nuts, but no squireel will pay more. Currency is valued depending on the long-term historic reputation of the country and its current situation. Britain is stable, ethical, historic country; financial centre of the world with royal family and good record. US is big but poorly behaved – continually involving itself in wars – terrorist target – perceived as less stable than UK; asset backing is less reliable than that of the UK; stock market more volatile. Also question of adherence to gold standard and heavy dependence on oil. In tough times people race to buy currency that is seen as retaining its value long term: pound sterling.