Value of $1
I have been blogging how fiat currencies are in trouble as they are losing value against commodities. But after reading this article am interested in keeping track of value of $1 against other currencies fiat, virtual, physical metals and Big Mac Index.
62 PENCE (.62 POUND)
The British pound is famously unforgiving to American tourists, but ... hey, at least it's pretty! The latest redesign cleverly features an incomplete portion of the Royal Shield on all new pence coins and the full shield on the full one-pound coin.
7.8 HONG KONG DOLLARS
Ranked for many years the most economically free country in the world, Hong Kong uses a currency that combines English and Chinese -- appropriate considering its long history with the UK. According to the Bank for International Settlements, it is the 9th most traded currency in the world.
4 ARGENTINE PESOS
Argentina experimented with a fixed exchange rate in the 1900s, but after an economic crisis in the early 2000s, the country devalued its currency significantly to juice exports.
70 EURO CENTS
The Euro might be the most ambitious monetary experiment in centuries. But today, the cracks are showing. Since the unified monetary system applies to various countries growing at different speeds, it threatens to impoverish some countries that would benefit from being able to devalue their currency, much like Argentina in the early 2000s.
80 JAPANESE YEN
The Yen took center stage in the news recently when it rose to a record high on March 26. Within hours, the FT reported, the Yen settled near 80 again, as central banks from the G7 joined hands to weaken the currency. A strong currency would have made imports more affordable for the Japanese -- at the cost of raising the price of their exports.
45 INDIAN RUPEES
The active series of banknotes is the Mahatma Gandhi series, and Gandhi's face is on every bill from 5 to 1,000. The word rupee comes from the Sanskrit for silver.
The distinction between yuan and Renminbi (RMB) is analogous to that between the pound and sterling; the pound (yuan) is the unit of account while sterling (renminbi) is the actual currency. The yuan has been de-pegged by China it is also being tightly controlled in terms of price movements
1 Australian Dollar
Same value as US dollar mainly because of it commodities and smart workforce. The work ethic in Australia has totally changed in the last twenty years to be much more productive.
0.55 Fijian Dollar
Us dollar has alway been close to this relationship problem for me though is converting my savings to Australian Dollars which has increased significantly.
10 FACEBOOK CREDITS
With 600 million accounts worldwide, Facebook's user base is now twice the size of the United States. So maybe it makes sense that Facebook Nation has its own currency. According to Inside Network, the Facebook sold nearly $1 billion worth of credits in 2010.
500 WORLD OF WARCRAFT GOLD
World of Warcraft is a virtual phenomenon, a mega-multiplaying universe that has captivated millions of players and billions of computer hours. WOW is an addiction was you get into it and so, the ability to buy weapons, sustenance, land and more requires its own currency. I was actually thinking of organizing some people to farm gold to be sold.
Currently trading around $1400 and is tracking the price of oil in US dollars. There seems to be a shortage especially in china and here you see addvertisements on TV for people to sell their gold for cash. Our main mall as CashforGold stall right as you enter the place.
Currently trading around $37 as noted before I will be converting majority of my fijian dollar denominated life savings into physical silver as see it substantially increasing. Wish was able to do it at $24 when I thought my application would have been processed.
I see the value of silver increasing significantly against Gold and Oil.
Most important commodity in world and gives the value of US $1 its strength.Currently trading around $104 a barrel and expect it to significantly increase against dollars but not gold.
Currently wheat is trading around $7 a bushel but expect to go higher based on floods in Australia and drought in China. In my experience when people start having problems with funds for food they move to more flour based foods.
Real Value of Currencies
My favourite way of determining strength of fiat currencies has always been the Big Mac Index and below is the latest Big Mac index that I was able to find.
The value of $1 will change daily so this just a one marker in its movement against other currencies and commodities.