Exchange rates are not very dependable. They fluctuate all the time and can have a direct impact on people. This article, will provide a brief history on the exchange rate of the pound sterling and the United States American dollar. All the prices cited in this article are valid as at 01.08.2011.
A definition The exchange rate is defined as the price of one country's currency expressed in another country's currency. In other words, it is the rate at which one currency can be exchanged for another currency. For example, the higher the exchange rate of one pound for the dollar, the lower the relative value of the dollar. Currency trading People make a profession out of buying and selling money on the Internet. They buy currency in the hope that the rate or the value will increase hence, allowing them to make a profit. There are many online currency markets where you can do this safely. However, make sure that you always check the credentials. Such global currency markets would include fx market (forex), fx currency and fx online.
The sterling and the dollar
A history exchanged: Sterling to the dollar In the past two years, from 2009 to present day, the pound sterling has constantly been smaller in value than the American dollar, according to Exchangerates.org.uk. Due to the economic crisis in Europe, the current value of the pound is currently inferior to the dollar at a rate of 1.625 dollars (Dollars@pounds.com). There are many online graphs that will display the exchange rate history of the pound sterling and the American dollar, over the past decade. If you want the best rates, then you must always shop around and wait for changes in your desired currency's value. The exchange rate is always fluctuating and the history of the pound to the dollar, always changes with economic factors such as exports and imports, recessions, economic booms, etc. Political influence can also change the exchange rate. Online calculators There are online calculators to help you to calculate your desired rate of currency and to assist you if you decide to buy currency. These rates change everyday. If you are thinking of investing in forex company, always seek professional advice. It is recommended to always consult professional currency predictions as well.