As reported byReuters, American tourists in Amsterdam are having a tough time exchanging their dollars for local currency, because nobody wants to get caught holding worthless paper.
Tag: currency
Dollar under pressure, wheat prices go up, and Bear Stearns may be bought out
The dollar touched a record low of $1.5651 against the euro and crude oil reached a record $111 a barrel. Grocery costs are expected to go up further with the rise in the cost of wheat. The price of wheat has more than tripled during the past 10 months, making Americans’ daily bread — and bagels…
Japanese investors dumping dollars
They think the dollar will slide even more, so most everday investors are dumping the dollar in the currency markets.