I don't think I'm stupid but I can't seem to get to grips with this Exchange Rate. I even tried Googling it earlier but it's still a bit vague. If the value of the British Pound goes down does that mean the Euro goes up? Could it be the other way around? Do I have to take into account the value of the American Dollar or the German Euro?
I've been watching the BBC News over the past few weeks in the hope someone will explain it. Hopefully, all will become clear in the course of time!
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http://en.wikipedia.org/wiki/Exchange_rates
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