Teeird Posted April 22, 2013 Share Posted April 22, 2013 Hey guys, I find it quite disturbing that the (might be wrong here) two biggest fiat currencies are crashing down after most recent political events (discussing those events is opening another can of worms), Euros and Pounds. I remember not too long ago Euros had a 2:1 conversion ratio to the USD, and the pound had a 3:1 conversion rate. Now look at how pathetic this is. . . https://www.google.com/search?q=usd+to+euro+conversion&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a&channel=fflb#client=firefox-a&hs=IH3&hl=en&rls=org.mozilla:en-US%3Aofficial&channel=fflb&sclient=psy-ab&q=usd+to+pound&oq=usd+to+pound&gs_l=serp.3..0l4.5548.6853.0.7154.6.4.0.2.2.0.85.309.4.4.0...0.0...1c.1.9.psy-ab.jPsMGIpKido&pbx=1&bav=on.2,or.r_qf.&bvm=bv.45512109,d.cGE&fp=1d5bb760b99fffb1&biw=1370&bih=766 https://www.google.com/search?q=usd+to+euro+conversion&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a&channel=fflb#hl=en&gs_rn=9&gs_ri=psy-ab&pq=usd%20to%20eur&cp=11&gs_id=ye&xhr=t&q=usd+to+euro&es_nrs=true&pf=p&client=firefox-a&rls=org.mozilla:en-US%3Aofficial&channel=fflb&sclient=psy-ab&oq=usd+to+euro&gs_l=&pbx=1&bav=on.2,or.r_qf.&bvm=bv.45512109,d.cGE&fp=1d5bb760b99fffb1&biw=1370&bih=766 USD is now worth more than both of the currencies not because of USD increasing in value, but Pounds/Euros being worth less. Discuss. Link to comment Share on other sites More sharing options...
mattje Posted April 22, 2013 Share Posted April 22, 2013 last year, when I went to USA, USD was ~1.25 EUR or so Link to comment Share on other sites More sharing options...
Synister Posted April 22, 2013 Share Posted April 22, 2013 USD is now worth more than both of the currencies not because of USD increasing in value, but Pounds/Euros being worth less. Maybe I'm reading this wrong, but aren't they still both worth more than the USD? 1 US Dollar equals 0.77 Euro 1 US Dollar equals 0.65 British Pound Sterling So wouldn't it be BPS > EUD > USD ? Link to comment Share on other sites More sharing options...
MC22 Posted April 22, 2013 Share Posted April 22, 2013 Maybe I'm reading this wrong, but aren't they still both worth more than the USD? 1 US Dollar equals 0.77 Euro 1 US Dollar equals 0.65 British Pound Sterling So wouldn't it be BPS > EUD > USD ? yes, why? Link to comment Share on other sites More sharing options...
There Posted April 22, 2013 Share Posted April 22, 2013 THIS IS CLEARLY THE FAULT OF PEOPLE UPVOTING CURRENCY PRICE SUGGESTIONS WITH LITTLE PROOF ON BACKPACK.TF Link to comment Share on other sites More sharing options...
Uranium235 Posted April 24, 2013 Share Posted April 24, 2013 I remember not too long ago Euros had a 2:1 conversion ratio to the USD, and the pound had a 3:1 conversion rate. Now look at how pathetic this is. . . USD is now worth more than both of the currencies not because of USD increasing in value, but Pounds/Euros being worth less. Don't know what you are talking about. When has there been a 2:1 USD/EUR and 3:1 GBP/USD rate? EUR (rough figures): In the last 5 years the high has been at 1.60 USD/EUR before the 2008 financial crisis, the low at 1.20 USD/EUR and the current exchange rate is 1.30 USD/EUR, moving in a corridor of 1.20 - 1.50 for the past 3-4 years. GBP (rough figures): In the last 5 years the high has been at 2.00 USD/GBP before the 2008 financial crisis, the low at 1.35 USD/GBP and the current exchange rate is 1.50 USD/GBP, moving in a corridor of 1.45 - 1.65 for the past 3-4 years. I don't see any recent "crash" at all. If anything, the USD was becoming too weak before the 2008 financial crisis. That's when a major correction in the form of a "crash" occurred ($1.60->$1.25 / $2->$1.35). Another crash was at the beginning of the European sovereign debt crisis in 2010 ($1.50->$1.20 / $1.60->$1.45). I guess by "most recent political events" you mean that still ongoing European sovereign debt crisis, which may be the cause of the volatility of the Euro compared to the USD. But I would hardly call that a "crash" in the last couple of years. The implications of a (now) weaker EUR compared to the USD: -US exports to the EU +US imports from the EU -EU tourists to the US +US tourists to the EU and vice versa for the EU or a stronger EUR. If you consider that good or bad, depends on what is most important to you, I guess. I personally don't mind the EUR not becoming too strong compared to the USD, as the EU would have serious trouble competing on the USD dominated world market with it's goods and services. Link to comment Share on other sites More sharing options...
Synister Posted April 24, 2013 Share Posted April 24, 2013 yes, why? Because the OP says: USD is now worth more than both of the currencies not because of USD increasing in value, but Pounds/Euros being worth less. But looking at the numbers, that looks to never have been true. C'mon Merry, read teh threadz. Link to comment Share on other sites More sharing options...
☣Long218☢ Posted April 25, 2013 Share Posted April 25, 2013 at first I thought euro crash so hard that 1 euro now worth 0.77 cents Link to comment Share on other sites More sharing options...
Pokey Posted May 7, 2013 Share Posted May 7, 2013 Hi. I'm English. What the fuck are you talking about? Currency crash? lolwat? Link to comment Share on other sites More sharing options...
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