Dollars and sense?
I've posted twice before about the peso-to-dollar decline, and now it seems there's consensus worldwide about the dollar's precipitous fall. Even in Bolivia, where this photo was taken, there is a government-led push to change dollars to euros ("If the dollar falls... save in euros!!"). I'm not an economist, but I think the US deficits -- both in trade and in current accounts -- are not helping. Oh well, I am paid in local currency, so in relative exchange-rate-driven terms, I just got a 15% annual bonus this year (of course assuming that the exchange rate stays at today's level for the next 9 months). What are your thoughts? Is this a problem, or just a consequence of deregulated currency markets?
posted by Brad @ 3:57 PM
3 comments
3 Comments:
Stumbled in and just wanted to say hi. Very interesting blog. Keep it up!
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there was an article about it in my local paper today, too, with a similar (or the same) photo. it mentioned a guy in nyc only accepts euros at his shop now, to save up for his annual antique shopping trip in france. i am wishing i had kept my euros and canadian dollars now!
another thought. when i went to turkey in the summer of 2002, i exchanged all my dollars into turkish lira when i arrived for my 10 week stay. big mistake. when i got there, a dollar was 1.2 million turkish lira, but later in the summer it was 1.4m. i think they've reformed the currency since so it couldn't compare, but i wonder how it's doing now...
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