smurtaza

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

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

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

Need to work on that drinking problem mate

Dorothy

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

smurtaza

It means EU is also a bigger country then UK.Then why GBP is more higher than Euro?

Dorothy

EU is not a country. It is a union of individual countries.

smurtaza

United States is also a union of 58 states or countries.

Dorothy

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

2.5 times... I'll take your exchange rate.. let me borrow 100K GBP from the bank.

smurtaza

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

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

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

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

I always forget about ACT.