In the last years the value of the dollar has made a spectacular fall compared to the euro’s value. In last year it has lost up to 18 percent against the euro. Nevertheless, some economists point out this is not an effective exchange rate, they rather the trade-weighted exchange rate, which measures a basket of currencies in both countries an compares them. From that point of view, the dollar has only lost 8.6 percent, which is less more dramatic, but it still indicates the decrease of value of the dollar against the euro.
Loïc Steelandt
Source: http://www.nytimes.com/2008/03/19/business/worldbusiness/19euro.html?scp=15&sq=dollar%20euro&st=cse
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