A strong dollar is great news for most of us — but not everybody is a winner
==========
The American dollar has been soaring this year relative to most currencies in the world. It reinforces America’s economic dominance and helps reduce inflation by making imports cheaper. However, a rising dollar hurts exporters and creates economic headaches around the world. The U.S. dollar index is up nearly 4% this year, and higher interest rates play a part in its strength. A strong dollar benefits almost everybody in the country by lowering the cost of importing goods, helping to counter inflation. It also benefits Americans traveling abroad and reinforces the U.S.'s economic dominance. However, a strong dollar hurts domestic manufacturers and American companies that manufacture abroad. It also wreaks havoc on foreign countries and emerging economies that have borrowed in U.S. dollars. While the strong dollar benefits many Americans, not everybody comes out a winner in terms of currencies.
#Dollar #Economy #Inflation #Exports #Imports #Manufacturing #Travel #CurrencyExchange
https://www.npr.org/2024/06/11/nx-s1-4990256/strong-dollar-overseas-travel-currency-exchange-rate
NPR /
npub1ul…6wmv3
2024-06-11 11:00:17
Author Public Key
npub1ulz3svknlcugdne49enhvn78h9xra297m7mx244hs85pfs9r7k4sq6wmv3Published at
2024-06-11 11:00:17Event JSON
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"content": "A strong dollar is great news for most of us — but not everybody is a winner\n==========\n\nThe American dollar has been soaring this year relative to most currencies in the world. It reinforces America’s economic dominance and helps reduce inflation by making imports cheaper. However, a rising dollar hurts exporters and creates economic headaches around the world. The U.S. dollar index is up nearly 4% this year, and higher interest rates play a part in its strength. A strong dollar benefits almost everybody in the country by lowering the cost of importing goods, helping to counter inflation. It also benefits Americans traveling abroad and reinforces the U.S.'s economic dominance. However, a strong dollar hurts domestic manufacturers and American companies that manufacture abroad. It also wreaks havoc on foreign countries and emerging economies that have borrowed in U.S. dollars. While the strong dollar benefits many Americans, not everybody comes out a winner in terms of currencies.\n\n#Dollar #Economy #Inflation #Exports #Imports #Manufacturing #Travel #CurrencyExchange\n\nhttps://www.npr.org/2024/06/11/nx-s1-4990256/strong-dollar-overseas-travel-currency-exchange-rate",
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