2006-06-28 04:42:46 · 3 answers · asked by Norski1 1 in Business & Finance ➔ Other - Business & Finance
With the exception of China, most of the important world currencies "float" in the international markets. For 7/24 the U.S. dollar is "revalued" - up and down - by the minute. The same as the price of gold.
2006-07-02 05:11:16 · answer #1 · answered by Puzzleman 5 · 0⤊ 1⤋
Dollar cannot be devalued, because devaluation means a drop in official exchange rate against dollar (or some other currency, against which this currency is pegged or gold) in a country which has a fixed exchange rate regime. U.S. does not have neither fixed exchange rate nor a gold standard.
Dollar can only become weaker (and it is getting weaker). Once China switches to floating exchange rate, the dollars value will immediately drop.
2006-06-28 13:20:23 · answer #2 · answered by hec 5 · 0⤊ 0⤋
It is devalued look at the differece between it and the euro. The euro started as equivalent to the dollar. Now it is much more valuable
2006-06-28 11:47:10 · answer #3 · answered by Vermin 5 · 0⤊ 0⤋