Pretty often I hear someone saying stuff like "The pound is worth more than the US Dollar" or "The Kiwi Dollar is worth less than the Euro".
Well, technically it is correct that 1 pound buys me more than 1 USD, and that 1 EUR buys me more than 1 NZD.
But I always found these statements to be meaningless, because it doesn't tell me anything at all about how the economies of the two countries compare. In addition, couldn't a country decide (I think Russia did it in the 90s) that from now on, to redefine the currency so that wages and prices and everything money-related gets scaled by the same factor?
So if I tell you that "1 unit of currency X buys you 2 units of currency Y", can you deduce anything of interest from that statement?