I'm a Canadian and I do most of my business online (both spending and earning) in US currency. This is both GREAT and BAD, because my income is shrinking (when I change it into Canadian currency) but I'm saving when I spend! What are your predictions...
There really isn't any way for the U.S. Dollar to fail, right now it's worth the most compared to every other country in the world, they might change it someday but it will still be the U.S. Dollar.
I have the same problem, or even worse. When I convert dollars to euros I loose a lot of money, because nowadays the euro is worth 50% more than US dollar. If we think about british pounds, the case is even worse, because it's worth 100% more than the US dollar... I hope the US dollar raises soon... when I had to invest it was worth a lot, now that it's time to receive it isn't worth almost anything... the same object costs almost twice the price here. By the way, this is my first post
yeah its nuts i remember a couple years ago when the exchange rate was 2 to 1 and now i go the other day and i give them 160 to exchange and get under 140 back. I was just confused. I knew the dollar had fallen but didnt think it was that much
The dollar may be sinking in value, but I don't see this as gloom and doom for the economy. It is actually a positive thing in many ways. For decades the dollar has been valued so highly above other currencies that it has made it extremely hard for US manufacturers to be competitive in the trade arena with other countries. This is why the United States almost always has a trade deficit, rather than a surplus - other nations simply have not been able to afford our products with the exchange rates as they were. Times are changing and the economy that was once limited to the United States is now becoming a true global economy right before our eyes. Sure the dropping value of the dollar is not without it adverse side effects, but it is not necessarily the gloom and doom it is made out to be. There is no hellfire and brimstone in the picture. On the contrary, the trade deficit of the US has actually been improving for the first time in a long time, and US manufacturers are getting the chance to compete in a global market which priorly left them out. The dollar dropping in value actually has given US manufacturing a push in the right direction, and will continue to help the United States trade competitively with the rest of the world.
