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| Benarus UK agent | Rate Topic |
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| Posted: Wed Jul 15th, 2009 07:47 pm |
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25th Post |
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Martin Lee 3T WIS
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How does the exchange rate make the prices 50% cheaper?
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| Posted: Wed Jul 15th, 2009 09:28 pm |
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26th Post |
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oagaspar Site Founder 
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Martin Lee wrote: How does the exchange rate make the prices 50% cheaper? as of today 1 GBP = 1.65 USD ...so how doesn't your GBP spend farther in the U.S???....Ralf could easily sell the Moray in Europe for either $350. EU or $350.GBP and that would be good business imho...and then everyone would be asking to buy from the U.S distributor! :D
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| Posted: Thu Jul 16th, 2009 06:16 am |
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27th Post |
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Martin Lee 3T WIS
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oagaspar wrote: Martin Lee wrote:That's really not how currency works. That's why exchange rates exist.How does the exchange rate make the prices 50% cheaper? If I take £100 to the US I'll get about $165 in exchange. That doesn't mean that $165 will buy me 1.65x more in the US than that £100 would have bought me in the UK.
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| Posted: Thu Jul 16th, 2009 07:57 am |
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28th Post |
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oagaspar Site Founder
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Martin Lee wrote: oagaspar wrote:....nobody said it would buy you more in the UK ...your theory would be true if the exchange rate were equal 1=1;)...and you are correct it would not buy you 1.65 times more in the U.S only $65. more and that is enough don't you think? :DMartin Lee wrote:That's really not how currency works. That's why exchange rates exist.How does the exchange rate make the prices 50% cheaper?
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| Posted: Thu Jul 16th, 2009 08:22 am |
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29th Post |
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Martin Lee 3T WIS
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oagaspar wrote: Martin Lee wrote:100 x 1.65 = 165.oagaspar wrote:....nobody said it would buy you more in the UK ...your theory would be true if the exchange rate were equal 1=1;)...and you are correct it would not buy you 1.65 times more in the U.S only $65. more and that is enough don't you think? :DMartin Lee wrote:That's really not how currency works. That's why exchange rates exist.How does the exchange rate make the prices 50% cheaper? 165 - 100 = 65. $65 more is 1.65x more. And no, it still doesn't work like that.
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| Posted: Thu Jul 16th, 2009 08:26 am |
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30th Post |
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oagaspar Site Founder
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please explain exactly how it works then?....or just look at it from this view...1 USD = 1.65 GBP and then tell me how you see it in corralation to buying a watch that cost $350. USD and you are in the UK;)
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| Posted: Thu Jul 16th, 2009 08:34 am |
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31st Post |
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Martin Lee 3T WIS
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oagaspar wrote: please explain exactly how it works then?....or just look at it from this view...1 USD = 1.65 GBP and then tell me how you see it in corralation to buying a watch that cost $350. USD and you are in the UK;)OK, so assuming I get a good deal on the currency, I'll pay about £215 for the same watch. Here's the deal: I'll have done the same amount of work to earn that £215 as someone doing my equivalent job in the USA would to earn $350. If both of us didn't buy that $350 watch, we'd probably end up being able to do roughly the same things with the money. My £215 will buy, say, 30 cinema tickets. Your $350 will probably also buy 30 cinema tickets. The number is just a number. It has no quantifiable value until you attach the currency that is involved. Someone with 1,000,000,000 Zimbabwe Dollars is not living the lifestyle that a billionaire would lead in the USA. They're probably lucky to be able to eat on any given day.
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| Posted: Thu Jul 16th, 2009 08:40 am |
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32nd Post |
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jasontking 3T WIS
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To add to this currency discussion. One currency can have better buying power in the very short run. If the US dollar strengthen over a short period, a person in the US would be able to buy an item for "less" if that item was priced in Euros for example. But as a whole, over the long run it is just an exchange. Everyones wage is based on their home currency. A watch is not a great deal for someone in the UK just because it takes less Euros to equal 1 US dollar.
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| Posted: Thu Jul 16th, 2009 08:46 am |
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33rd Post |
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oagaspar Site Founder
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I understand what currencies are in black&white but there are many gray areas....like whether or not the economies are equal....if you took 750,000GBP to the U.S and exchanged it you would be a Millionaire in the U.S...would you not?...I asked you if the rate was reversed and you had to pay 575.GBP for a $350.usd watch today instead of 212.GBP would you still buy it?
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| Posted: Thu Jul 16th, 2009 08:48 am |
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34th Post |
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Martin Lee 3T WIS
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oagaspar wrote: I understand what currencies are in black&white but there are many gray areas....like whether or not the economies are equal....if you took 750,000GBP to the U.S and exchanged it you would be a Millionaire in the U.S...would you not?...I asked you if the rate was reversed and you had to pay 575.GBP for a $350.usd watch today would you still buy it?I'd wait a year for my salary and living expenses to come in line and then buy it. I wouldn't buy it today.
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| Posted: Thu Jul 16th, 2009 08:52 am |
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35th Post |
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oagaspar Site Founder
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Martin Lee wrote: oagaspar wrote:I understand what currencies are in black&white but there are many gray areas....like whether or not the economies are equal....if you took 750,000GBP to the U.S and exchanged it you would be a Millionaire in the U.S...would you not?...I asked you if the rate was reversed and you had to pay 575.GBP for a $350.usd watch today would you still buy it?I'd wait a year for my salary and living expenses to come in line and then buy it. I wouldn't buy it today. I rest my case :D
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| Posted: Thu Jul 16th, 2009 08:54 am |
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36th Post |
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Martin Lee 3T WIS
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oagaspar wrote: Martin Lee wrote:What was your case? The cost has changed because the cost makes up a larger proportion of my disposable income. At the moment, the cost is the same proportion of my disposable income to someone with the same situation in any other country. That's how exchange rates work and why they exist in the first place.oagaspar wrote:I understand what currencies are in black&white but there are many gray areas....like whether or not the economies are equal....if you took 750,000GBP to the U.S and exchanged it you would be a Millionaire in the U.S...would you not?...I asked you if the rate was reversed and you had to pay 575.GBP for a $350.usd watch today would you still buy it?I'd wait a year for my salary and living expenses to come in line and then buy it. I wouldn't buy it today.
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