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Currency Converstion RatesLast update: Saturday 19th of May 2012
The bid price for a counter currency is always one. Thus the exchange rate is how many of the counter currency must be paid by the taxpayer. If taxes increase, this results in less consumer spending. This has a negative affect on the economy. In this case, currency value will decrease. There are five major currencies that are traded most often. They are the US Dollar (USD,) the Euro (EUR,) the Japanese Yen (JPY,) the British Pound (GBP,) and the Swiss Frank (CHF.) There are certain foundations that also consider the Australian Dollar (AUD) a major currency. At some point in the near future, at least we hope the Chinese government will remove the restrictions presently placed on the trading of there national currency and allow it also to be
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