The Dying Dollar

So I go to donate to the FlickrExport plugin for iPhoto through PayPal and see this:

PayPal's Exchange Rate as of Dec. 11, 2004:
1 U.S. Dollar = 0.509535Pounds Sterling

Emphasis mine. But Mr Speirs, who is in the UK, would like to be paid in Pounds, not worthless American dollars. Who can blame him?