£1 = $2

Take that suckers!

Just kidding. First time since 1992 that one pound sterling has the same worth as two American dollars. Pretty good for any Brits wanting to go shopping in the states. Firther reaffirms my belief that the Euro is for European wusses. Long live the Pound Sterling!

XD

Is that a new development? Because last time I checked (a month ago) one pound equaled something like one dollar and thirty cents.

Not really a new development, it's been on an upward slide. I have no idea where you got that exchnage rate, because the pound has been worth close to $2 for the last six months.

Hmph. I'm pretty sure I was thinking Euros instead of pounds.

Which is not good at all. *stresses*

I noticed that European currency was going up a couple months ago when I went to trade a some euros for dollars.

But wow, two dollars. The economy's failing and yet were still in Iraq.

Just because the Euros are better doesn't mean we're failing EBM. They have the currency of several countries.

It means I am failing, lol. I just did a whole bunch of conversions for my trip next summer and this post made me realize how retarded I was because I converted into Euros rather than Pounds...and I needed pounds....which added a lot of money for my trip

Wow. Shopping is cheaper for us in the US. But I thought it's only a little, as isn't it relative? Aren't the prices in the US basically just double than over here (amount of pounds/dollars, not actual currency)?

Exchange rates are funny things, but the current rise in the Pound Sterling reflects higher inflation in the United Kingdom versus inflation in the United States. That is, inflation in the UK is climbing at about 3%, while it's about 2% in the US. There has been a slide in the dollar recently reflecting concerns over the housing slump, but it all depends on what currency you're talking about. The dollar is rising against the Yen, but falling against the Euro. In the end, it doesn't really matter much. In fact, you should expect the Pound Sterling to fall back below $2 in the coming year if the British Central Bank decides to increase interest rates in order to combat inflation.

What this does do is make it a lot easier to discuss dollars and pounds! All I got to do is double, and that is awesome. Although it will make my trip to England this August a bit more expensive...

Amen, Nate. That's my problem.....the England trip, and then the Kenya trip in which I pay in pounds for them to pay for me lol.

KazSmurf wrote:Wow. Shopping is cheaper for us in the US. But I thought it's only a little, as isn't it relative? Aren't the prices in the US basically just double than over here (amount of pounds/dollars, not actual currency)?

Yes and no. Over the long term, you should expect prices to converge such that there is no difference whether you shop in the US or shop in the UK. But the problem is, we always live in the short term where prices can be volatile. With higher inflation in the UK, goods are going to be cheaper in the US. Anyone can correct me on this if I'm wrong as I'm only following news accounts, but right now a Big Mac in the UK cost 2 pounds, or $4, just to use one example.

Yeah, the best thing is making it really really easy to convert. I know next to nothing about economics, and I was only joking in my post.

How much is a Big Mac in the US? In the short term it will definitely be cheaper to shop in the US.

How much is a Big Mac in the US?

Funny you should say that, actually - 'Burgernomics' or 'the Big Mac Index' is a very neat way of quickly figuring out how strong a country's currency and economy are; because McD's is available in so many countries, comparing the prices of them is an interesting and amusing way of figuring out strength of economy.

I'm studying abroad to England next year, and I saw an example that a CD in the States costs about $15, while a CD in the UK costs about 15 pounds, which equals about $30!

I never go to McDonald's or any fast-food restaurants, but I'm pretty sure a Big Mac is $2.50 to $4. It really depends where you are.

CD's cost about $15. DVD's are $15 to $25.