• Pound sterling beats Argentine peso to become 2016's worst performing currency.
    22 replies, posted
[url]http://www.independent.co.uk/news/business/news/pound-sterling-argentine-peso-worst-performing-currency-eu-referendum-brexit-a7127246.html[/url] [QUOTE]The pound has beaten the Argentine peso to become 2016's worst performing currency after it plunged to a 31-year low in the aftermath of the decision to leave the EU. That brutal tumble means the pound has overtaken the Argentine peso as the biggest loser against the dollar among 31 other major currencies in 2016. Some analysts are convinced the pound still has further to fall, Goldman Sachs has said the pound could go as low as $1.20 against the dollar in the next three months, levels not seen since the summer of 1985.[/QUOTE] Lol at this rate Argentina could just buy back the Falklands. [highlight](User was banned for this post ("Sensational Headline." - Bradyns))[/highlight]
Don't worry, all this extra sovereignty will save us
What do they define as the worst performing currency, just current trending? Because as the article points out it's still way above the US dollar, crazy high above the Canadian dollar, way more than the Euro, etc etc.
Doesn't that just mean it's fallen the furthest? Not that it's actually worth less than the peso just putting it out there in case anyone misreads
[QUOTE=Elspin;50676296]What do they define as the worst performing currency, just current trending? Because as the article points out it's still way above the US dollar, crazy high above the Canadian dollar, way more than the Euro, etc etc.[/QUOTE] They're defining it as percentage of value lost or gained with the U.S. dollar as the reference point.
Well here's hoping that there's some way the referendum result can be overturned or nullified in some capacity before the real troubles hit.
But guys it's okay. We have democracy and sovereignty now so it's all fine. God save the queen and all that.
It's the worst performing currency, not the worst currency.
Yeah, the pound did lose a fuck tonne of value, its almost like jumping ship out of a collaboration of countries can have effects on the economy of said country. Still, Its only $1.3 = £1 ~
[QUOTE=Elspin;50676296]What do they define as the worst performing currency, just current trending? Because as the article points out it's still way above the US dollar, crazy high above the Canadian dollar, way more than the Euro, etc etc.[/QUOTE] Says it right there: [B] the biggest loser against the dollar among 31 other major currencies.[/B]
[QUOTE=Anyx;50676341]But guys it's okay. We have democracy and sovereignty now so it's all fine. God save the queen and all that.[/QUOTE] Britain used to be an empire [sp]now they never will be[/sp]
Oh gosh darnit, George 'Breaker of the Bank of England' Soros strikes again. :clown:
Even tho' I'm not a fan of the euro, this is some pretty hilarious karma.
why are currencies measured against the US dollar?
[QUOTE=Mining Bill;50676815]why are currencies measured against the US dollar?[/QUOTE] International trade and stock markets are calculated in USD, IIRC. It's also one of the most widely accepted currencies in the world, and is used as legal tender all over - the last place I heard of that uses it was Zimbabwe I think?
[QUOTE=Mining Bill;50676815]why are currencies measured against the US dollar?[/QUOTE] Petrodollar and freedom (Stock market influence?). It's probably because we're a huge importer on top of our dollar being relatively stable. Currency is all based on trust anyways, so it doesn't really matter. You could compare it to gold and get similar results, people probably just use it for convenience since most people understand the relative value of the dollar compared to other currencies (I think).
Shopping spree!!!!
Guess we can just buy off the Falklands now. :v:
This brexit thing literally enabled a lot of bigots and it has fucked over the economy for the british people I hope they can have a second referendum or something because I wouldn't want it to end like us
Don't worry guys this is just some initial instability it's gonna be even better than it was before when people stop freaking out about leaving the EU and we negotiate better trade deals /s
[QUOTE=cis.joshb;50677664]Don't worry guys this is just some initial instability it's gonna be even better than it was before when people stop freaking out about leaving the EU and we negotiate better trade deals /s[/QUOTE] People here can't make the best of a bad situation. Simple as that. Because they refuse to make it work it was doomed to fail before it even began.
[QUOTE=Megadave;50678138]People here can't make the best of a bad situation. Simple as that. Because they refuse to make it work it was doomed to fail before it even began.[/QUOTE] There is no "best" with this situation. Leave fucked the UK for their own political gains, and the general populace gets to suffer for it.
[QUOTE=Dr.C;50676590]Britain used to be an empire [sp]now they never will be[/sp][/QUOTE] Now they've just left an empire.
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