Why does Turkish lira worth more than Swedish krona?

A Turkish lira is 3.23 Swedish kronas. Why? Isn't Sweden much richer?


0|0
1|5

Most Helpful Guy

What Guys Said 4

  • 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.

    0|0
    0|0
  • 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.

    0|0
    0|0
  • Same as British pounds are worth double American dollars even though America is richer :)

    0|0
    0|0
  • No Sweden does not use the Euro

    0|0
    0|0
    • But the value od a currency means nothing. It is whether it is rising or falling with respect to another currency and mostly with respect to gold. To give some perspective the dollar is worth 125X the Japanese yen. You might think that is great until you realize that a Yen is like a Penny. It has nothing to do with the strength of the currency, only the denomination. You are comparing apples and oranges.

      Now in terms of Turkish money versus the dollar: the Lira has weakened from 1.5 per dollar in 2011 to roughly 2,5 per us dollar now. So it is almost half as strong as it was a few years ago. The Krona and the dollar are both at the same place they were at in mid 2010 so unchanged. The Swedish Krona is stronger than the Turkish Lira.

What Girls Said 1

  • I wonder this too.

    0|0
    0|0
Loading...