View Single Post
  #22 (permalink)  
Old June 10th, 2010, 10:59 AM
Paul Motter's Avatar
Paul Motter Paul Motter is offline
Join Date: Aug 2000
Location: in my office!
Posts: 11,010
Send a message via AIM to Paul Motter

Can somebody explain to me in simple English how the euro can be falling if it is worth the same amount when converted from a dollar? When you convert dollars to euros the number of cents is still what it would have been when the European Union invented new currency. So I cannot understand what people mean when they say the economic crap in Greece is making the euro worth less than it used to be.
Actually - Euros are not worth the same as dollars, they are worth more right now and have been since the early 2000s. Right now you have to pay about $1.20 to buy one Euro, but a few months ago it was more like $1.30.

This is typical foreign exchange - there is nothing new about it. The Euro is cheaper now which means our dollar buys more in Europe now than it did last year ($1.45). It really does make a difference.
Reply With Quote