Economy

What's Behind the Dollar's Downslide?

By Melissa Block, Adam Davidson

Published March 13, 2008 at 1:00 PM PDT

This story was published more than 16 years ago.

The U.S. dollar plunged against other major currencies Thursday, dipping below 100 yen for the first time in 12 years. There were other signs of weakness — retail sales were down in February. Despite all this, the stock market closed higher.

What is wrong with a weaker dollar? How does it hurt us? And will the average American feel the weaker dollar?

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Melissa Block

As special correspondent and guest host of NPR's news programs, Melissa Block brings her signature combination of warmth and incisive reporting. Her work over the decades has earned her journalism's highest honors, and has made her one of NPR's most familiar and beloved voices.

Adam Davidson

Adam Davidson is a contributor to Planet Money, a co-production of NPR and This American Life. He also writes the weekly "It's the Economy" column for the New York Times Magazine.

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