why is the British pound always higher than the American dollar no matter how good the American economy is?
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Filed under: Currencies
Why is the dollar always worth more than a nickle?
they don’t use a base 100 monetary system.
You are comparing apples to oranges.
Because the Brits are snobs and they think they are better than everybody.
bECAUSE u Americans ARe stupid wankers!, we Brits are just better at everything….
Currency value and economic performance often have little to do with each other. Witness China growing at 9+% per year and the US around 3%, yet the Renminbi is pegged to the dollar. More important is the supply and demand for the currency and the interest rate differentials between currencies. £/US was close to parity in the mid-80′s, but the US economy wasn’t all that strong at the time.
As most world commodities are priced in dollars, it usually behooves the central banks of other countries to adjust their money supply accordingly.