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Can someone please explain this?

Posted by on Jun. 17, 2013 at 2:02 PM
  • 4 Replies

It will probably seem s stupid question but I have dyscalculia and don't usually figure these things out on my own.

Why is there a difference in money amounts depending on what money you use?

For example, something in the USA that is a dollar, is 93cents here in Canada.

While when my sister went to Cuba, something that cost 10$ cost 9.85$ in pesos.

Why are they different amounts?

by on Jun. 17, 2013 at 2:02 PM
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Replies (1-4):
peanutsmommy1
by Ruby Member on Jun. 17, 2013 at 2:03 PM

exchange rates

not a currency has the same value across countries

Anonymous
by Anonymous 1 on Jun. 17, 2013 at 2:03 PM

different governing entities and currencies

tardistraveller
by on Jun. 17, 2013 at 2:06 PM

who decides what their value is?

That is, why would USA want their dollar to be less? Doesn't it make more sense for it to be worth more?

Quoting peanutsmommy1:

exchange rates

not a currency has the same value across countries


VannaMae307
by on Jun. 17, 2013 at 2:09 PM

exchange rates are variable depending on inflation rates, value of the dollar, economy, public debt etc etc etc

there's probably more but it's just one of those things that are part of the economy and I don't ever claim to be an economic expert lol


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