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#51
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What countries have the best exchange rate for the dollar?
David Eduardo wrote:
"Miguel Cruz" wrote: I think that alone is enough to conclude that the meaning of "best" you've inferred is not what he intended. He didn't ask "What countries have the most currency units per dollar?" How would you, then, define "best exchange rate." The one that provided the most advantageous purchasing power ratio. The rate of exchange is simply a math formula. It has nothing to do with purchasing power. If the rate of exchange were to change, then the PP ratio would also change (at least in the short term), creating a more or less favorable situation for the traveler. If the poster wanted to know "value" than he should have asked about value, not the rate of exchange. That was clearly the poster's question. You are beating him up over failure to use proper jargon, which is ridiculous behavior. This is not an economics class. miguel -- Hit The Road! Photos and tales from around the world: http://travel.u.nu Site remodeled 10-Sept-2003: Hundreds of new photos, easier navigation. |
#52
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What countries have the best exchange rate for the dollar?
Thomas F. Unke wrote:
Then add transport, very expensive nightlife, expensive entry fees, and Japan is by far the most expensive country in Asia. Anyone been to Bhutan? miguel -- Hit The Road! Photos and tales from around the world: http://travel.u.nu Site remodeled 10-Sept-2003: Hundreds of new photos, easier navigation. |
#53
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What countries have the best exchange rate for the dollar?
"Spehro Pefhany" wrote in message ... Here's the Big Mac index, which I mentioned in an earlier post: http://www.economist.com/markets/big...ory_id=1730909 You can pick holes it in as a method of comparison, but I think it's as good as any other quantitative method I've seen. Well...... It should be reasonable to expand to accommodation and transportation as well, because they are so vital parts of anyone's travelling budget. Naturally one might imply these costs from the list you represent, but the fault tolerance should be represented about as large as the Universe. |
#54
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What countries have the best exchange rate for the dollar?
On Tue, 30 Sep 2003 15:59:53 GMT, the renowned (Miguel
Cruz) wrote: Thomas F. Unke wrote: Then add transport, very expensive nightlife, expensive entry fees, and Japan is by far the most expensive country in Asia. Anyone been to Bhutan? miguel What is it, something like minimum US$200/day and no independent travel permitted? In one of the least developed areas of the world. Still, it looks fascinating. Best regards, Spehro Pefhany -- "it's the network..." "The Journey is the reward" Info for manufacturers: http://www.trexon.com Embedded software/hardware/analog Info for designers: http://www.speff.com |
#55
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What countries have the best exchange rate for the dollar?
"Miguel Cruz" wrote in message ... David Eduardo wrote: "Miguel Cruz" wrote: I think that alone is enough to conclude that the meaning of "best" you've inferred is not what he intended. He didn't ask "What countries have the most currency units per dollar?" How would you, then, define "best exchange rate." The one that provided the most advantageous purchasing power ratio. A common misconception, I am sure. "Best exchange rate" truly means "maximum number of units of foreign currency for the currnecy I hold." "Exchange rate " has nothing to do with purchasing power. The rate of exchange is simply a math formula. It has nothing to do with purchasing power. If the rate of exchange were to change, then the PP ratio would also change (at least in the short term), creating a more or less favorable situation for the traveler. Not always. Advantageous changes in exchange are rapidly leveled out by increases in prices. If the poster wanted to know "value" than he should have asked about value, not the rate of exchange. That was clearly the poster's question. You are beating him up over failure to use proper jargon, which is ridiculous behavior. This is not an economics class. That was not clear. I frequently see tourists, mostly Americans, who believe that, when they get more units of a foreign currency for each dollar, they are able to buy more stuff. They mistake the multiple as being an indication of the cost of living (or traveling). |
#56
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What countries have the best exchange rate for the dollar?
Originally posted by David Eduardo "Miguel Cruz" wrote in message - [/url]... David Eduardo wrote: "Miguel Cruz" wrote: I think that alone is enough to conclude that the meaning of "best" you've inferred is not what he intended. He didn't ask "What countries have the most currency units per dollar?" How would you, then, define "best exchange rate." The one that provided the most advantageous purchasing power ratio. A common misconception, I am sure. "Best exchange rate" truly means "maximum number of units of foreign currency for the currnecy I hold." "Exchange rate " has nothing to do with purchasing power. The rate of exchange is simply a math formula. It has nothing to do with purchasing power. If the rate of exchange were to change, then the PP ratio would also change (at least in the short term), creating a more or less favorable situation for the traveler. Not always. Advantageous changes in exchange are rapidly leveled out by increases in prices. If the poster wanted to know "value" than he should have asked about value, not the rate of exchange. That was clearly the poster's question. You are beating him up over failure to use proper jargon, which is ridiculous behavior. This is not an economics class. That was not clear. I frequently see tourists, mostly Americans, who believe that, when they get more units of a foreign currency for each dollar, they are able to buy more stuff. They mistake the multiple as being an indication of the cost of living (or traveling). Who said Americans were ignorant and stupid? -- Posted via http://britishexpats.com |
#57
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What countries have the best exchange rate for the dollar?
David Eduardo wrote:
"Miguel Cruz" wrote: How would you, then, define "best exchange rate." The one that provided the most advantageous purchasing power ratio. A common misconception, I am sure. "Best exchange rate" truly means "maximum number of units of foreign currency for the currnecy I hold." You are confusing "best" (the word he used), which is a qualitative and subjective term, with "highest" (a word he did not use), which is a quantifiable, objective comparison. "Best" simply means whatever helps him the most. The rate of exchange is simply a math formula. It has nothing to do with purchasing power. If the rate of exchange were to change, then the PP ratio would also change (at least in the short term), creating a more or less favorable situation for the traveler. Not always. Advantageous changes in exchange are rapidly leveled out by increases in prices. Rapidly? No, except for cases of high-value imported goods that are subject to arbitrage. You honestly think that economies undergo spontaneous inflation and deflation in lockstep with their currency's movement with respect to some arbitrary foreign currency? What if the U.S. dollar falls against the yen? The Australian dollar, which has ties to both, has then effectively risen against the U.S. dollar. You think every shopkeeper in Sydney then is going to run out and lower his prices? Come on. I frequently see tourists, mostly Americans, who believe that, when they get more units of a foreign currency for each dollar, they are able to buy more stuff. They mistake the multiple as being an indication of the cost of living (or traveling). Fair enough. But I don't see any indication he was suffering from that misconception. It just seems like people were itching to correct someone, anyone, for making that mistake. miguel -- Hit The Road! Photos and tales from around the world: http://travel.u.nu Site remodeled 10-Sept-2003: Hundreds of new photos, easier navigation. |
#58
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What countries have the best exchange rate for the dollar?
On Wed, 01 Oct 2003 04:09:19 GMT, "David Eduardo"
wrote: "Miguel Cruz" wrote in message . .. David Eduardo wrote: "Miguel Cruz" wrote: I think that alone is enough to conclude that the meaning of "best" you've inferred is not what he intended. He didn't ask "What countries have the most currency units per dollar?" How would you, then, define "best exchange rate." The one that provided the most advantageous purchasing power ratio. A common misconception, I am sure. "Best exchange rate" truly means "maximum number of units of foreign currency for the currnecy I hold." "Exchange rate " has nothing to do with purchasing power. The rate of exchange is simply a math formula. It has nothing to do with purchasing power. If the rate of exchange were to change, then the PP ratio would also change (at least in the short term), creating a more or less favorable situation for the traveler. Not always. Advantageous changes in exchange are rapidly leveled out by increases in prices. If the poster wanted to know "value" than he should have asked about value, not the rate of exchange. That was clearly the poster's question. You are beating him up over failure to use proper jargon, which is ridiculous behavior. This is not an econonics class. That was not clear. I frequently see tourists, mostly Americans, who believe that, when they get more units of a foreign currency for each dollar, they are able to buy more stuff. They mistake the multiple as being an indication of the cost of living (or traveling). This seems to be a favourite topic of conversation with Manila taxi drivers. They will often ask what country I'm from. When I tell them I'm from the UK they say I'm lucky because the British Pound gives more Philippine Pesos than any other foreign currency. Because of that they think the Pound is the best currency to hold. I've yet to find a convincing way of explaining to them why that's is not necessarily true. |
#59
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What countries have the best exchange rate for the dollar?
I'm planning on traveling the world over the next year..... One of my criteria is to travel to countries that have a good exchange rate with the US dollar. That way I can get more for my dollar. What a sad criteria to use for a world trip. You must be american Hey, if he lives on the local economy and only stops at Niger, Chad, Angola, and Bangladesh, his money will go a _long_ way. For someone so concerned with economy, he'd deserve that trip. |
#60
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What countries have the best exchange rate for the dollar?
The 'exchange rate' has nothing to do with anything here - it is the cost of
living that is important. "Tom Keener" wrote in message ... I'm planning on traveling the world over the next year..... One of my criteria is to travel to countries that have a good exchange rate with the US dollar. That way I can get more for my dollar. What a sad criteria to use for a world trip. You must be american Hey, if he lives on the local economy and only stops at Niger, Chad, Angola, and Bangladesh, his money will go a _long_ way. For someone so concerned with economy, he'd deserve that trip. |
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