Why the change in British pds and US dollars?
Answer:
its based on the value of the forex ( foreign exchange market ) its similar to the stock market in function.
Things like rumors, significant news announcements, disasters like katrina or the subway bombings affected price.
investment situations.
Its hard to explain all the things that can affect this.
The exchange rates of currencies are changing constantly if you are an actual trader. But for people who are just exchanging for travel or whatever you will get the exchange rate based on the close rate of previous day.
The current rate as of now is 2.0472 which is to say the pound is worth 2 dollars and 4-5 cents.
It's based on the relative supply and demand for each currency.
I wish you were correct, but you aren't. The current exchange rate is 1 pd = $2.04. It's the lowest the dollar has been against the pound in over 25 years
Sharona,
You need a new website. Check out x-rates.com £1 is currently at $2.04.
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