Exchange Rates
Here in the United States, we use American currency. We're all familiar with the disapproving glare of George Washington when we pull out a couple of crinkly $1 bills and buy a Double Cheeseburger from McDonald's. However, American currency is typically not accepted as legal tender elsewhere in the world. Plenty of folks in other countries probably aren't even aware of who George Washington even is, so it's unlikely they're going to place much value on a piece of paper with the guy's face on it in, say Germany. And that's just too bad, because I was hoping to eat the Bavarian equivalent of a Double Cheeseburger, presumably wrapped protectively inside of a bratwurst.
At any rate, the value of money changes from place to place. You may be able to get more Norwegian kronor for your American dollar than you would Mexican pesos, for example. It's a complex web of supply and demand that, ultimately, comes down to currency exchange rates. As Americans, you have the advantage that the entire global financial system pegged to the dollar. Thus, it's correct to say "I'll give you .64 British pounds for your dollar."
It would be incorrect to say "I'll give you 1.48 dollars for your British pound." And that's why we fought the War of 1812.
At any rate, the value of money changes from place to place. You may be able to get more Norwegian kronor for your American dollar than you would Mexican pesos, for example. It's a complex web of supply and demand that, ultimately, comes down to currency exchange rates. As Americans, you have the advantage that the entire global financial system pegged to the dollar. Thus, it's correct to say "I'll give you .64 British pounds for your dollar."
It would be incorrect to say "I'll give you 1.48 dollars for your British pound." And that's why we fought the War of 1812.