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.
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
Is the Singapore dollar linked to the US dollar?(2 Answers)
A:
The Singapore dollar is not linked to the US Dollar, though it was for a short time. Therefore, dollar devaluation in the United States does not modify the ...
How will Apple Stock (aapl) be effected when Steve Jobs dies?(2 Answers)
A:
I definitely think it would drop for a time. Maybe month while the company restructures and they name a successor. Depending on who's named and how he ...
References
Fast Facts
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1792
Created
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October 2000
All-time high against Euro
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Fact:
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Code
USD
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Fact:
Most used in international transactions
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Pegged to dollar
21 currencies
