Views Collection

The election which is to happen in America has brought a positive impact on the economy. Slowly the dollar is crawling up and on the way to regain its position in the international money market. The price of crude oil in the international market has dropped but the price of gold shows no sign of dropping. The dollar however is gaining its momentum.

The price of dollar had gone down to 61.25 in the local market and has reached to 64.15 which shows that dollar is recovering. Sometimes ago the exchange rate of dollar in the local market had rose to 75.00 at the highest level. Not only in the local market but dollar lost its value in the international market with going record low against pound and euro.

In the local market there were expectations and forecasting of dollar dropping down to 50.00 which thankfully did not happen. As far as I know, the dollar faced the worst of all time in the past couple of months. What could be the main reason behind it? I may not be correct but this is the impact of the September 11 incident. And why not, after that terrible incident Bush spent all his funds in so called anti terrorism war, invaded Iraq, set up army in Afghanistan and etc. Instead of taking nation to the next level he perhaps settled all his egos.

All in all, the dollar is doing well at present in the international market. This is a good sign for all who are involved in dollar transactions.