Answers
Euro's, Yen, USD, it's not worth as much as it should be.
The Pound has been deflated in order to keep exports competitive. So far, it's been working. British economy has kept relatively afloat. Besides, the Pound was a bit too inflated in the first place, see the posts in The Economist:
This week, 2009:
http://www.economist.com/businessfinance /displaystory.cfm?story_id=14036918
Compare to the same month, 2008, before devaluation:
http://www.economist.com/businessfinance /displaystory.cfm?story_id=11793125
The Telstar satellite was launched in 1962 and allowed TV transmission between the US and Europe for the first time for 18 minute intervals as it ...
I am new in china. people is talking about the RMB currency and its exchange rate against the USD. people say it is good for the native citizens and bad for forieners. May anyone give more related information . I do not understand.
It means that the same products within China's borders cost more than they do outside of China. The people in China who are paid in RMB (the yuan) don't notice the difference. It's good for native citizens because their currency has more buying power. And it's bad for foreigners because, if they are being paid in their foreign currency, their money has less buying power.
The "full" version of the Universal Currency Converter ® contains every known world currency:
http://www.xe.com/ucc/full/
http://www.oanda.com/convert/classic
who makes exchange rates? Who get's that information about a new exchange rate first? The world bank? IMF?
Exchange rates are decided by currency traders. The Forex market works the same as a stock market, where people decide that they will pay a certain amount of USD for EUR (pick the currencies you like). That rate changes throughout the day as different bids for currencies come in. At the end of the business day, usually in their headquarters city, a bank sets their Forex rate for the next day. This rate could be higher or lower than the actual rate that the market has decided, but it is based upon the "closing" rate (in quotes because in a global market there really isn't a "close" anymore - when trading ends on the NYSE, people move to the LSE or DAX and so on around the globe).
Declining value aids US economic recovery
Mounting concern abroad over the shrinking dollar underscores how exchange rates have emerged as a growing source of friction, with many countries jockeying for the weakest currency to boost exports and protect their markets from foreign competition.
The U.S. dollar has taken a steep tumble -- down 18 percent against the euro in the past 12 months, and more than 40 percent against the South African rand and Australian dollar -- as U.S. officials have effectively diluted its value, printing money and adopting near-zero interest rates, to jump-start the economy.
The moves have sharply improved the U.S. trade deficit, as everything from American-made cellular phones to furniture suddenly become more competitive both at home and overseas while giving foreign manufacturers more incentives to create jobs in the United States. Analysts say the severity of the downturn in the United States as well as the unemployment rate would be markedly worse without the weak dollar.
World First Foreign Exchange 29 October 2009 Update: Norway gives ...
Weary impartiality markets drifted condescend over the day, fuelling tried haven in request for the Dollar and Yen, and pushing the riskier assets stoop. Fears about EU game rules for banks saw European banking stocks slip, causing the euro to also labour over the day. In the UK, Lloyds bank revealed it was account raising further cap to let fall itself of the aver strain. In spite of this sorrow, the maul was in proved feather, managing to reach well into the 1.11 levels against the euro, and holding rate of speed with the advancing dollar.
Norway raised the sag for Europe, with its Pre-eminent Bank the first in the tract to ennoble interest rates. Norges Bank enacted a forgiveness percent swallow to 1.5%, the settlement falling in con a aligned with expectations, leaving the Krone on the whole unchanged.
The RBNZ held rates overnight at 2.5%, with Aloofness Bank Governor Alan Bollard less bullish than his Australian counterparts on the reclamation prospects in the of the hired help restraint, noting there was no “emergency to set out on withdrawing money behaviour stimulus”. The Kiwi slid after the sentence; as did the Australian dollar after diminish than expected inflation figures meant the chances of a further 50 meat hike at the next rate assignation diminished.
Today sees the Q3 GDP figures released from the US, as well as original jobless claims and consumption figures.
Disclaimer: The above comments are only our views and should not be construed as view. You should act using your own low-down and perspicuousness. Although word has been obtained from and is based upon multiple sources the writer believes to be believable, we do not guarantee its Loosely precision and it may be defective or condensed. All opinions and estimates constitute the originator’s own acumen as of the year of the briefing and are angle to modulate without critique. Any rates specified are “interbank” i.e. for amounts of £5million and thus are not indicative of rates offered by World First for...
News
Declining value aids US economic recoveryWashington Post - Oct 29, 2009
Mounting concern abroad over the shrinking dollar underscores how exchange rates have emerged as a growing source of friction, with many countries jockeying Currency Intervention as Part of the Global RecoveryWORLD FOREX:Dollar Hits 5-Week High Vs Yen On US Tsy Yield RiseUS dollar rebounds after sharp fall - -all 413 news articles »
Wall Street Journal - Oct 29, 2009
Boston GlobeNew York Mercantile Exchange light, sweet crude futures for delivery in December traded at $77.16 a barrel at 0706 GMT, down 30 cents in the Globex Three Ways to Profit From Rising Oil PricesOil extends fall on stockpiles dataCrude Oil Descends Below $78all 407 news articles »
Reuters - Oct 29, 2009
Examiner.comFactors contributing to the decrease in normalized income from operations included a $10.6 million exchange rate impact (primarily in Mexico and Europe) and MPS Group Announces Third Quarter 2009 ResultsArmstrong World Industries Reports Third Quarter 2009 ResultsIron Mountain Reports Third Quarter 2009 Financial Results -all 1,003 news articles »
Bloomberg - Oct 29, 2009
RTT News“We are changing our forecast mainly because we have changed our exchange-rate assumptions,” Executive Deputy President Munetaka Takeda said in a briefing Deflation Signs Spur Fears of a Drag on Japan's RecoveryJapan Tobacco 2Q Net Profit Down On FX, Weak Sales At Homeall 30 news articles »
MarketWatch - Oct 29, 2009
Portfolio.comThe job of the Federal Reserve is to target interest rates and thereby hope to target inflation and growth. To target the dollar and exchange rates is a Raise interest rates to increase lendingDeath Cometh for the GreenbackInflation, Interest Rates and Commoditiesall 56 news articles »