Your money is worth less today if it is in dollars
Posted On June 22, 2007
Remember back when the exchange rate was .8 Euros to the dollar? Or when a dollar would buy almost two Canadian dollars and four kiwi dollars? Well…those days are gone…you should have gotten rid of your cash then…now it’s like trying to sell the house you thought was worth half a million for $350K, it’s too late. It’s going to get worse though….trust me.
LONDON — The U.S. dollar was down against most other major currencies in European trading late Friday. Gold was up.
The euro traded at $1.3428, up from $1.3387 late Wednesday in New York. Later, in midday trading in New York, the euro fetched $1.3435.
Other dollar rates in Europe, compared with late Wednesday, included 124.06 Japanese yen, up from 123.67; 1.2329 Swiss francs, down from 1.2418; and 1.0680 Canadian dollars, down from 1.0759.
The British pound traded at $1.9958, up from $1.9922.
In midday New York trading, the dollar bought 124.02 yen and 1.2321 Swiss francs, while the pound was worth $1.9967.
Gold traded in London at $652.60 bid per troy ounce, up from $651.50 late Thursday.
In Zurich gold traded at $650.60, up from $649.95.
Gold fell $2 in Hong Kong to $652.45.
Silver opened in London at $13.10 bid per troy ounce, up from $13.05.