British Expats
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British Expats (https://britishexpats.com/forum/)
-   Australia (https://britishexpats.com/forum/australia-54/)
-   -   Conversion Rates? (https://britishexpats.com/forum/australia-54/conversion-rates-502523/)

smurtaza Dec 31st 2007 5:20 am
Conversion Rates?
 
Hi,

Australia is a lot bigger in size then UK.But why Australian Dollar is 2.5 times lower than British Pound?

Even Australian Dollar is lower than Canadian and USD$?Why?


Thanks

Geelong Gent Dec 31st 2007 5:25 am
Re: Conversion Rates?
 
Originally Posted by smurtaza (Post 5721919)
Hi,

Australia is a lot bigger in size then UK.But why Australian Dollar is 2.5 times lower than British Pound?

Even Australian Dollar is lower than Canadian and USD$?Why?


Thanks
UK had/has far more gold bullion reserves from which original rates were based.

Size doesn't matter its how you use it.

Notice you dont mention any middle eastern rates too compare or african



















or telecomms

Vim Fuego Dec 31st 2007 5:27 am
Re: Conversion Rates?
 
Originally Posted by smurtaza (Post 5721919)
Hi,

Australia is a lot bigger in size then UK.But why Australian Dollar is 2.5 times lower than British Pound?

Even Australian Dollar is lower than Canadian and USD$?Why?

Thanks
Good question ... AND surely because the banknotes are made of plastic they must be worth more than GBP or USD ... more useful in a damp crisis and all that.

These questions need answers!

Geelong Gent Dec 31st 2007 5:34 am
Re: Conversion Rates?
 
Originally Posted by Vim Fuego (Post 5721930)
Good question ... AND surely because the banknotes are made of plastic they must be worth more than GBP or USD ... more useful in a damp crisis and all that.

These questions need answers!
Need to work on that drinking problem mate
;)

Dorothy Dec 31st 2007 5:54 am
Re: Conversion Rates?
 
Originally Posted by smurtaza (Post 5721919)
Hi,

Australia is a lot bigger in size then UK.But why Australian Dollar is 2.5 times lower than British Pound?

Even Australian Dollar is lower than Canadian and USD$?Why?


Thanks
Canada's money is worth more because Canada is a bigger country.

smurtaza Dec 31st 2007 6:02 am
Re: Conversion Rates?
 
Originally Posted by Dorothy (Post 5721994)
Canada's money is worth more because Canada is a bigger country.
It means EU is also a bigger country then UK.Then why GBP is more higher than Euro?

Dorothy Dec 31st 2007 6:16 am
Re: Conversion Rates?
 
Originally Posted by smurtaza (Post 5722008)
It means EU is also a bigger country then UK.Then why GBP is more higher than Euro?
EU is not a country. It is a union of individual countries.

smurtaza Dec 31st 2007 11:36 pm
Re: Conversion Rates?
 
Originally Posted by Dorothy (Post 5722034)
EU is not a country. It is a union of individual countries.
United States is also a union of 58 states or countries.

Dorothy Dec 31st 2007 11:38 pm
Re: Conversion Rates?
 
Originally Posted by smurtaza (Post 5724440)
United States is also a union of 58 states or countries.
No it's not. The EU is a union of countries. The US is one country with 50 states. Just like Canada is one country with 10 provinces and 3 territories. Or Australia is one country with 6 states and 1 territory.

I'm wondering when the US got another 8 states?

datamile Dec 31st 2007 11:43 pm
Re: Conversion Rates?
 
2.5 times... I'll take your exchange rate.. let me borrow 100K GBP from the bank.

smurtaza Jan 1st 2008 9:02 pm
Re: Conversion Rates?
 
Originally Posted by datamile (Post 5724461)
2.5 times... I'll take your exchange rate.. let me borrow 100K GBP from the bank.
Howard (PM) was saying Australian economy is booming but there is no significant difference in conversion rates why?Only Petrol prices are going up.In Bangladesh Petrol(USD$1 per litre) is cheaper than Australia.

JAJ Jan 1st 2008 9:46 pm
Re: Conversion Rates?
 
Originally Posted by smurtaza (Post 5726959)
Howard (PM) was saying Australian economy is booming but there is no significant difference in conversion rates why?Only Petrol prices are going up.In Bangladesh Petrol(USD$1 per litre) is cheaper than Australia.
The Australian dollar was introduced in 1966 at a rate of 1 dollar for 10 shillings, or alternatively 2 dollars equalling one Australian pound.
http://en.wikipedia.org/wiki/Australian_dollar

Economics 101 should tell you that the monetary value of each currency is meaningless in assessing its current strength. Is the Japanese yen a weak currency?

Big Galah Jan 2nd 2008 2:28 am
Re: Conversion Rates?
 
Originally Posted by Dorothy (Post 5724451)
No it's not. The EU is a union of countries. The US is one country with 50 states. Just like Canada is one country with 10 provinces and 3 territories. Or Australia is one country with 6 states and 1 territory.

I'm wondering when the US got another 8 states?
No it's not, Australia is one country with 6 states and TWO territories. tsk tsk, I hope you don't have to take the citizenship test any time soon...

JAJ Jan 2nd 2008 2:38 am
Re: Conversion Rates?
 
Originally Posted by Big Galah (Post 5727614)
No it's not, Australia is one country with 6 states and TWO territories. tsk tsk, I hope you don't have to take the citizenship test any time soon...
There are in fact 10 territories of Australia, 3 on the mainland (don't forget the Jervis Bay Territory which split from the ACT in 1989) and 7 external territories (eg Norfolk Island).

http://en.wikipedia.org/wiki/States_...s_of_Australia

Dorothy Jan 2nd 2008 6:54 am
Re: Conversion Rates?
 
Originally Posted by Big Galah (Post 5727614)
No it's not, Australia is one country with 6 states and TWO territories. tsk tsk, I hope you don't have to take the citizenship test any time soon...
I always forget about ACT.


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