Dollar decreased in foreign exchange.
The dollar has become slighty less valuable in the past few days because the trade deficit is at it's second widest and still under pressure in cross currency yield. The record high oil prices are undermining the dollar and making the dollar go down a low percentage in other countries. For example; the dollar is now worth 1.2447 in Swiss francs rather than 1.2516 from where is was earlier. Even though this is only a slight change the dollar is still under pressure of becoming less valuable in other countries. Maybe all this can be turned around by the next president or the current president making better decisions about the economy. With whatever president something needs to be done and the problem can not be underestimated. For more on the huge trade go to http://story.news.yahoo.com/news?tmpl=story&cid=1518&ncid=1518&e=10&u=/afp/20041014/bs_afp/forex_us_041014220117
4 Comments:
At 10:01 AM, Jennifer said…
I agree that it is a shame that our American dollar has depreciated and dropped in foreign countries. In some foreign countries the people of that country are not paid as well so when the dollar drops they can not get as much for the little bit of money that they do earn. As an American who travels to foreign countries quite a bit I know that I prefer for the American dollar to be higher because I get more for my money. I too hope that with whoever becomes the new President of the United States of America will look into helping keep their value up. Thanks for the intresting article and insight.
At 3:14 PM, Sean said…
Jennifer, be careful. If the dollar falls in value, it means that foreigners can buy more dollars for a given amount of their currency. So, the poor in foreign countries can now more easily afford US products. This does, however, make it more expensive for US consumers to buy foreign products. This increases the dollar value of our exports and decreases the dollar value of our imports.
At 6:44 PM, laboz00 said…
If we compare the dollar to euro we can see a increase in the dollar's worth. It just seems to me that if European currency is growing in value we should evaluate what the European's are done and following suit.
At 10:29 AM, serderick jennings said…
As long as this country maintains this war happy president(Bush)the dollar will never appreciate. Without new economic policies that will stimulate our economy it will be more than the dollar that will be depriciating.
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