Why Dollars Instead of Pounds

Discussion in 'General Pro Player Discussion' started by dirtballer, Jun 18, 2011.

  1. dirtballer

    dirtballer Professional

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    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?
     
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  2. rovex

    rovex Legend

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    $ is the international currency.
     
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  3. Aeropax

    Aeropax Rookie

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    USA always wins baby.™
     
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  4. sarmpas

    sarmpas Semi-Pro

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    Sounds more in dollars.
     
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  5. Bartelby

    Bartelby G.O.A.T.

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    Because the Fed prints more and more of them
     
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  6. nimailni

    nimailni New User

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    The answer is much simpler.

    $1.8 million appears more than £1.1 million, since one pound is worth more than one dollar.
     
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  7. Fifth Set

    Fifth Set Professional

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    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?
     
    #7
  8. Joe Pike

    Joe Pike Banned

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    Because the prize money is in dollars?
     
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  9. Joe Pike

    Joe Pike Banned

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    By hedging. Every bank can provide this.
     
    #9
  10. sureshs

    sureshs Bionic Poster

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    It will soon be in Renminbi
     
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  11. nikdom

    nikdom Hall of Fame

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    Russian Roubles would be best. The first round loser would take home 1 zillion billion roubles.
     
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  12. BobFL

    BobFL Hall of Fame

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    Once Middle Eastern oil producers, China, Japan and France switch to a basket of currencies in (cca.) 2017 it won't be funny anymore.
     
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