the dollar

08.05.06, 13:42
costs 2.99 pln.

An all time low....
now, why is that?
    • firemouse Re: the dollar 08.05.06, 15:16
      Not the all-time-low, once it costed 9500 PLZ so 0.95 PLN smile

      Why is that? Uncle Davey can explain it certainly better, but just look at US
      budget deficit and ask yourself if they can cover this.
      • brookie Re: the dollar 08.05.06, 15:20
        costs 2.99 pln

        I'm so sorry
      • nasza_maggie Re: the dollar 08.05.06, 17:25
        firemouse napisał:

        > Not the all-time-low, once it costed 9500 PLZ so 0.95 PLN smile
        >
        aaaaa but that was a long long time ago, when that wasn't really a low.
      • usenetposts Re: the dollar 08.05.06, 20:45
        > Why is that? Uncle Davey can explain it certainly better, but just look at US
        > budget deficit and ask yourself if they can cover this.

        It's not necessarily a bad thing. Even at such lousy rates they are having big
        trouble with their exports and their balance of payments deficit. The Chinese
        are buying dollars all the time just to keep the dollar up, so that they can
        buy Chinese goods and not sell their own. If the Chinese dumped the dollars
        they have, then the dollar would be worth a good deal less than that, and of
        course their exporters would then have a field day, but the Chinese would not
        be selling so much to them.

        The Chinese have figured out the old trick of providing credit to people to buy
        their goods.

        Now would be a lousy time to borrow in dollars, though, but I'm not sure that
        making deposits in dollars is going to be that good either.

        Obviously they are deflating, but in a way which is not so painful internally
        to voters who only see the dollar and nothing else.

        On an interesting side note, I can finally tell American friends I am making
        six figures again. The last time I could say that, over three years ago, I was
        earning a good deal more in PLN terms than I am now. But they were other times
        in my profession.
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