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U.S. Dollar Falling
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Right now the U.S. dollar is falling in value. One Euro equals $0.68 in U.S. currency. A lower valued dollar makes imports more expensive and raises the inflation rate. In addition, some banks in foreign countries who typically buy U.S. treasury bills are less likely to continue buying them, as the value of the U.S. dollar falls. Since 2002 the U.S. dollar has fallen 36% and this is affecting the U.S. in several ways. Americans who travel over seas will feel a significant impact when exchanging their money. A dinner which would normally cost them $125 will cost them nearly $200. It will be cheaper for Americans to stay home and vacation, but with the U.S. dollar falling, it will also hinder the overseas travelers from coming to America to vacation. Recently, news of European banks indicated that rates could rise in Europe over the next few months, which puts foreign currencies in higher demand, thus making the dollar less attractive.
About this poster:
Posted by:
Cheremac
(female, late-30s)
(Posted 11/30/07)
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Free (relevant links only)
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