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.

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.

"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.

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

"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).

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

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.

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.

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.

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.