Word: greenback
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Dates: during 1970-1979
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...Living costs abroad. Americans traveling or residing overseas have felt the effect of the dollar's drop most immediately and directly, especially in such countries as West Germany and Switzerland, where the greenback's decline against local currency has been severe. In Switzerland the franc has risen 25% against the dollar in the past year. A tourist couple may well spend $45 for a not particularly lavish dinner with a bottle of wine, v. $36 a year ago-even though the price of the meal in Swiss francs has not changed. In West Germany, where the inflation rate...
...dust finally settled at week's end, a dollar could buy only 241 Japanese yen, 2.14 deutsche marks or 2.06 Swiss francs. Since January the dollar has lost 22% against the yen, 19% against the Swiss franc and 11% against the mark. Nor has the once mighty greenback been dropping only against those traditionally strong currencies; lately it has also lost ground against the anemic French franc and British pound...
Washington officials correctly point out that so far this year the 'trade weighted" value of the dollar has dropped only about 2% on average against 15 foreign currencies. Major reason: the greenback has been going up against the Canadian dollar and the Mexican peso, the currencies of two of the most important U.S. trading partners. Some economists also argue that the fall of the dollar should help to shrink the U.S. trade deficit by making U.S. exports cheaper and imports more expensive...
...reluctant to comply for fear of igniting a new round of inflation. The growing U.S. deficits have been of concern to foreign money men; about a month ago they began dumping their dollar holdings to buy stronger currencies-thus setting off the current slide in the value of the greenback...
...world's best credit card is still the greenback...