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Aniimali

Will the fall in Dollar effect the impoters?

Bryan:

It will effect the world.

=Squeeky Clean Mike=:

A low dollar will benefit exporters and hurt importers urvi:}

Felix:

The dollar is the world's benchmark currency. A stable dollar value provides International Monetary Stability. So essentially, you do need a stable American economy. Our economy cant be characterized as been stable the last few years and thus, it affects adversely the International economy and trade. When the dollar falls, importers have to pay more dollars to buy imports. Then more dollars flow out the country . Some of them come back as capital investment or to buy goods and services. But the foreign buyers end -up with more dollars that either keep them in their countries or buy disproportionally more goods and services from us. A good example of that is the way the tourist industry operates. More Europeans come to the U.S. because the Euro is much stronger than the dollar. Traditional Tourists Destinations in Europe are suffering from both European and American tourists. It is cheaper to spend eight days in New York than it is in Paris, London or Rome. That's irrelevant of nationality. The relevant factor is the exchange rate of dollar and Euro.

Sequoia:

Heavy dollar demand by importers as well as nationalized banks for a defence-related purchase caused the rupee to fall to a low of 49.15 during the day. Supportive news for rupee was Central banks move to cut its key-lending rate to 8% and rally in the Indian stock markets provided support to rupee from further decline.

Further possible steps by RBI towards easing liquidity conditions by reducing CRR / SLR rates could act as supporting factors, which could see rupeeā€™s downside being floored in the form of eased liquidity conditions.

Technically, the 47.60 levels is still considered a crucial support for the dollar and a fall below this level to accelerate the decline towards 46.70. Immediate support comes around 48.20/48.50 levels.

The active October contract closed towards 49.38 registering a volume decrease of around 26.5% over the previous trading day

Ronald:

It does effect the Import business.

Zeke:

Actually the Dollar is rising with the financial crisis being worldwide. They would rather hold our Dollar than any other currency. and it will affect imports and exports.

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