Get you calculators out!

The currency exchange rate requires an update which will be conducted today.

Therefore the new rates as of 4 December 2006 are as follows:

UK Pounds (GBP) to US$$ = £0.51 (previously 0.53)

Euros (EUR) to 1 US$$ = €0.76 (previously 0.78)

You will therefore notice a change in pricing, stable stats, nominations and related stakes winnings if operating in any currency other than US$$’s.

As the sites base currency is the US Dollar currency exchange updates will only have an affect on members operating in currencies other than the US Dollar. To give you an indication of how often these updates occur the last update was made on the 1st August 2006, prior to that the 25th May 2006, the one before that being 2 December 2005.

Unfortunately the system has to be based on one currency as most of the transactions are between members and there are multiple currencies involved. We cannot fix the exchange rates as that will eventually become very unfair for someone. So we adjust the currencies in line with market changes. We have changed the rate from $1:£0.5348 to $1:£0.51. The effect of this is that £534.80 accumulative earnings before the rate change will now reflect as £510.00 today ($1000x0.5348/0.51).

Similarly, a $10 nomination will now equate to £5.10 where it was previously £5.34 and in a 14 horse field would now have £60.69 stakes as apposed to £63.64 previously.

Note that races which were programmed prior to the update will remain at the old exchange rate in terms of nomination amounts and respective stakes payouts. They will eventually filter out of the race card as they are replaced by the new exchanges rates.


Hope you've all got that!!! I only operate in Rupeeeeeeeeeeeeeeeeeeees!