Plummeting Dollar

The value of the United States dollar has been plummeting for several years. On September 20, 2007 the United States dollar dropped to parity with the Canadian dollar for the first time in three decades, and also dropped to its lowest level against the Euro. As of May 2008, U.S. currency continues to struggle in world markets.

Fast Facts

1. 1792: Created
2. October 2000: All-time high against Euro
3. 2001
4. Code: USD
5. Most used in international transactions
6. Pegged to dollar: 21 currencies

Causes and Effects

Many analysts feel the housing market downturn is the largest factor in the precipitous drop in value of the U.S. dollar. The decline of the dollar has been blamed for the increased price of oil, the rise in the price of gasoline, and the sharp increase in food prices.

Other Places That Use The U.S. Dollar

1. Ecuador
2. El Salvador
3. Panama
4. British Virgin Islands
5. Turks and Caicos
6. Federated States of Micronesia
7. Marshall Islands
8. Palau

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