Dollar Dropping in Value - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Dollar Dropping in Value

"Countries who are buying goods manufactured here are buying more because the dollar is worth less, so the exporters are really having great business right now," says Bill Hall "Countries who are buying goods manufactured here are buying more because the dollar is worth less, so the exporters are really having great business right now," says Bill Hall

Washington, Lincoln and Franklin just aren't worth what they use to be. NewsChannel 10's Marissa Bagg explains how the dropping value of the American dollar means to you.

It means a trip overseas may not be the best idea right now, unless you're ready to pay big bucks. But it may be time for you to re-think a mortgage.

A weak dollar means lower mortgage rates so it's easier to buy a house or refinance - because interest rates are in the gutter. It's also good news for cattlemen in the panhandle who export internationally.

"Countries who are buying goods manufactured here are buying more because the dollar is worth less, so the exporters are really having great business right now," says Bill Hall, a financial advisor.

But if you like to purchase imports, get ready to whip out your wallet.

"Generally it makes things that are made abroad more expensive to us, because the dollar won't buy quite as much as it use to. It makes more dollars to buy products made in Japan or China or anywhere in Europe, so it makes imports more expensive for the consumer," says Hall.

That means next time you are at the store imports like this French cheese will cost your more to buy. You can stock up on apples and oranges, their price won't change since they're made in the U.S.

Travelling to Europe is more expensive because the euro continues to climb, and the pound is now worth twice the dollar. 

But travel agencies we spoke with say because people have already spent money on things like a plane ticket, the currency gap isn't large enough for them to cancel upcoming trips.

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