Suggestion: Euro as default currency for bidding?
Thread poster: Heinrich Pesch

Heinrich Pesch  Identity Verified
Finland
Local time: 22:32
Member (2003)
Finnish to German
+ ...
Jan 2, 2004

Its a bit irritating that the bidding formula has still USD as default currency. Probably most translations are done within the EU, or am I wrong? Never saw a decent job offer from the US anyway.

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Tina Vonhof  Identity Verified
Canada
Local time: 13:32
Member (2006)
Dutch to English
+ ...
Forgetting something? Jan 2, 2004

Are you forgetting that:
a) proZ is a US-based web site;
b) there is a world outside Europe;
c) the US dollar and the Euro are pretty much equal(for now at least).


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Russell Gillis  Identity Verified
Local time: 13:32
Spanish to English
US dollar still the dominant currency Jan 2, 2004

These are some statistics from 2003:

"The U.S. dollar is involved in 90% of the world’s currency exchange, the Euro approximately 24% and the Japanese Yen 16%."

The Euro has been gaining ground against the US dollar, but the US dollar still continues to be the "default" currency of international business.

I don't see the big inconvenience. I can still quote in other currencies if I want to. In fact, it would be nice to quote in my own currency, given that our dollar has gained 10 cents over the US dollar in a very short period of time!



[Edited at 2004-01-02 17:51]


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Ralf Lemster  Identity Verified
Germany
Local time: 21:32
English to German
+ ...
Depends on your language pairs, I suppose Jan 2, 2004

I don't know any relevant statistics offhand, but I do believe there's a significant market outside the EU. Note that "outside EU" doesn't necessarily refer to the US, but the US dollar is widely used for invoicing on a global basis.

Regarding Tina's comment about EUR/USD parity: er, no longer - the exchange rate has gone beyond 1.25 USD per euro, so I don't think we can really talk about parity any longer.

Best regards, Ralf


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Henry Dotterer
Local time: 15:32
SITE FOUNDER
A good point Jan 2, 2004

Thanks. I agree it would be appropriate to change the default depending on location of the outsourcer/provider, and will add it to our list of todos.

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Heinrich Pesch  Identity Verified
Finland
Local time: 22:32
Member (2003)
Finnish to German
+ ...
TOPIC STARTER
Or no default currency at all? Jan 2, 2004

The easiest solution would be the default being a question mark and the bidder would be forced to set the currency himself.
Atherwise it could happen, that I bid accidentally on a EU job with dollars and lose 25 percent!
Of course USD is still the dominant currency, but hardly in our business worldwide.


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Lesley Clarke  Identity Verified
Mexico
Local time: 14:32
Spanish to English
my two euros worth Jan 2, 2004

Certainly in my pairs, all the jobs from the US just seem to be available to people who live in that country. I live in Mexico and would be delighted to accept euros, or gold, or cocoa beans if it comes to that.

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Lucinda  Identity Verified
Local time: 16:32
Member (2002)
Dutch to English
+ ...
Set the default currency yourself. Jan 2, 2004

Yes,

I think that it would be nice to be able to set and reset the default currency yourself.

Thank you, Henry, for putting it on the 'todo' list.

And I have to disagree about the good jobs not being offered in the US. I received some good/sizeable ones from the US and from Canada last year.

A happy, healthy and harmonious New Year, everyone!

Lucinda.


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Juan Jacob  Identity Verified
Mexico
Local time: 14:32
French to Spanish
+ ...
Euro, en español. Jan 3, 2004

Interesante tema, aunque nada tenga yo que ver, pues jamás he hecho transacciones internacionales ni he conseguido trabajo alguno gracias a ProZ.

Dos comentarios, provenientes de Canadá
-cuya divisa es el dólar canadiense, bastante por debajo del estadounidense, curiosamente-, me llaman la atención:

1.- Are you forgetting that:
a) ProZ.com is a US-based web site;
b) there is a world outside Europe;
c) the US dollar and the Euro are pretty much equal (for now at least).

2.- The U.S. dollar is involved in 90% of the world’s currency exchange, the Euro approximately 24% and the Japanese Yen 16%.

Sin hablar de la aparente falsedad de los datos (90 + 24 + 16 = ¿100%?), "the US dollar and the Euro are pretty much equal"
-el dólar está francamente en picada: como dice el colega, está a 1.25- y de la susceptibilidad patriotera ("there is a world outside Europe"), ¿no convendría recordar, si tanto les importa a los apararentemente ofendidos y recelosos del predominio del dólar y de la economía estadounidense, que la Comunidad Económica Europea se está convirtiendo en la primera economía del mundo, si no es que ya lo es?

Como dice Henry:

"A good point".

Y apoyo a Heinrich en lo de:

"Its a bit irritating that the bidding formula has still USD as default currency."

Hablando de patrioterismos, me ofende sobremanera que acá, en México, muchas de las transacciones, en bienes raíces, por ejemplo, se hagan en dólares lo cual, además de ofensivo, es ilegal... toda operación de compra venta debe hacerse en moneda nacional (pesos mexicanos, en este caso).

Nunca me ha gustado que alguien quiera ser juez y parte. Objetividad, nada más. Si un finlandés como Heinrich quiere hablar en su moneda, ¿por qué imponer otra ajena a 400 millones de habitantes con la supuesta supremacía del dólar?

Un saludo.

Juan.


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Williamson  Identity Verified
United Kingdom
Local time: 20:32
Flemish to English
+ ...
Dropdown menu Jan 3, 2004

If this site is written in Visual Basic, it should not be too difficult to make a drop-down menu which leaves the opportunity to bid in the currency of choice, pretty much like the exchange-rate calculation sites.
The US-dollar is a currency based upon deficit spending both by the US government and the inhabitants of the US. Until 2002, it had no equal. If there are not enough dollars, just print them. Oil will fund the deficit. With the Euro the greenback has found an equal which could be a replacement for the payments of oil. That is thé nightmare of US-policy-makers. When that happens the dollar deficit-bubble is going to burst.
By the way, the Euro will also become the currency in the New Member-States. So, more people than the population of the US will use the Euro.


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Russell Gillis  Identity Verified
Local time: 13:32
Spanish to English
Reply to comments on statistics Jan 3, 2004

Mr. Juan Jacob:

Before talking about false information, you failed to understand what the statistics were about: Currency exchange.

In other words, there are always two currencies involved in a currency exchange. So of course the total percentage will be higher than 100%, because often the same currencies are involved in an exchange (US dollars to Euros, Euros to Yen, etc.)

For example, say there are 10 currency exchange transactions. In those 10 currency exchanges, these were the combinations:

USD to EUR
USD to JPY
USD to MXN
USD to CDN
EUR to JPY
USD to GBP
ATS to USD
BRL to USD
EUR to USD
USD to CNY

So from these exchanges, you get the following statistics:

USD: involved in 90% of the exchanges
EUR: involved in 30% of the exchanges
JPY: involved in 20% of the exchanges
...(other currencies)

It is quite obvious that these percentages don't add up to 100%, but they are representative of each currency's involvement in world transactions.

In summary, I don't think I would be stupid enough to put blatantly false statistics on such a widely read forum.


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Todd Field  Identity Verified
United States
Local time: 13:32
Member (2003)
Portuguese to English
Overreacting... Jan 3, 2004

Dear Colleagues,

Should we really be reading so much into a simple drop-down box? This is not world politics... it is an online job bidding form.

In my opinion, no one should accuse Heinrich of ethnocentricity for making his initial suggestion. Likewise, this subject has nothing to do with the dollar's intrusion into the daily transactions of neighbor countries, or the quality of the translation business between Europe and the rest of the world.

It is a JOB BIDDING FORM. Don't try to read too much into it. Much like Ian Winick's Kudoz forum posting yesterday, we should remember that:


1) Proz.com will be a much more rewarding community if members can present their ideas without insults and personal attacks

2) Proz.com will set a better example if its members foster cross-cultural understanding


As PROFESSIONALS with acute CULTURAL AWARENESS, we should be upholding these ideas in our every action on this site.

Happy 2004 to all,

Todd Field


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Ralf Lemster  Identity Verified
Germany
Local time: 21:32
English to German
+ ...
Closing the thread Jan 3, 2004

It is indeed a technical issue, and Henry indicated that he has taken note of requirements - there's no point in reading more into it than that.

I'm closing the thread.

Ralf


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