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Different currency values and their rank. How does it work out?

1 pound bid vs 1 usd bid for example.

     
10:04 pm on Aug 19, 2007 (gmt 0)

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Any idea how adwords treats different currency bids?

If I bid 1 pound, will I be ranked higher than the person bidding 1 usd?

10:38 pm on Aug 19, 2007 (gmt 0)

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Google converts the foreign currencies to $US so that everyone is on an equal footing...

...however, I have a feeling that they only update the exchange rates every few weeks, and that there might be some advantage to foreign advertisers during dramatic currency swings.

7:09 am on Aug 20, 2007 (gmt 0)

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Read this thread, especially the post from AWA2 at 7:42 pm on Aug 11, 2006:
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