A Turkish lira is 3.23 Swedish kronas. Why? Isn't Sweden much richer?
Most Helpful Guy
WTF? Swedish people don't use euros now?0
Has to do with inflation, credit, and monetary policy. All countries around the world use a central bank/ fractional reserve system. Though the BRICS countries are about to start gold for oil. The very same program Libya was going to implement, prior to being bombed by nato and erupting into a civil war.
The comparison isn't valid. 1 Turkish lira is worth 46 yen as well, the equivalents alone do not explain much of the difference in the economies of the countries.
Same as British pounds are worth double American dollars even though America is richer :)
I wonder this too.
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