As someone who lives in the UK why is Sterling generally stronger than many other, more widley used currencies like the Euro or Dollar?

Question

As someone who lives in the UK why is Sterling generally stronger than many other, more widley used currencies like the Euro or Dollar?

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Answer 1

When people talk about currencies being strong or weak, they mean relative to other time periods. If 1 glorg is worth roughly 10 flobs for many years, but then we go through a period in which 1 glorg is only worth 5 flobs, then the glorg might be described as weak or the flob as strong.

This is assuming that prices of goods have stayed roughly the same in each currency. Occasionally, a country will revalue their currency: Flobland might introduce a new flob, worth 10 old flobs. This will change all the exchange rates by a factor of 10, but it will also change prices and salaries in Flobland by a factor of 10, so it won’t make any difference overall.