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dirtballer
06-18-2011, 09:30 AM
I just watched the post match presentations at Eastbourne. This tournament is in England. Why would they announce the winner's and runner-up's prize money in dollars instead of pounds?

rovex
06-18-2011, 09:31 AM
$ is the international currency.

Aeropax
06-18-2011, 09:32 AM
USA always wins baby.™

sarmpas
06-18-2011, 09:44 AM
Sounds more in dollars.

Bartelby
06-18-2011, 09:45 AM
Because the Fed prints more and more of them

nimailni
06-18-2011, 09:49 AM
The answer is much simpler.

$1.8 million appears more than 1.1 million, since one pound is worth more than one dollar.

Fifth Set
06-18-2011, 10:05 AM
I was a bit surprised by that as well. I imagine that there is some desire for standardization. The draw sheets from events all over the world will show the total purse in US$.

But, it does raise the question of what currency is used in the checks made out to the players. If it is not local currency, it must be quite a challenge for event owners and organizers to manage - they are exposed to potentially significant currency exchange risk.

Anybody know how this gets handled?

Joe Pike
06-18-2011, 10:11 AM
I just watched the post match presentations at Eastbourne. This tournament is in England. Why would they announce the winner's and runner-up's prize money in dollars instead of pounds?


Because the prize money is in dollars?

Joe Pike
06-18-2011, 10:15 AM
I was a bit surprised by that as well. I imagine that there is some desire for standardization. The draw sheets from events all over the world will show the total purse in US$.

But, it does raise the question of what currency is used in the checks made out to the players. If it is not local currency, it must be quite a challenge for event owners and organizers to manage - they are exposed to potentially significant currency exchange risk.

Anybody know how this gets handled?


By hedging. Every bank can provide this.

sureshs
06-18-2011, 10:36 AM
It will soon be in Renminbi

nikdom
06-18-2011, 10:45 AM
Russian Roubles would be best. The first round loser would take home 1 zillion billion roubles.

BobFL
06-18-2011, 10:46 AM
Once Middle Eastern oil producers, China, Japan and France switch to a basket of currencies in (cca.) 2017 it won't be funny anymore.