This table shows the historical value of one U. Dollar was devalued most during objs tenure . The Naira today is forex cargo tracking dubai it should be.
IBB yrs of 1985 – 1993,when the Naira went from 0. OBJ yrs when the Naira went from 85. Many businesses say it is appropriate for the dollar to be around 95 yen for trade, so we must work with the Bank of Japan to bring it to appropriate levels taking into account the various effects currencies may have on the Japanese economy,” Kan, who is also deputy prime minister, said. It would be nice if the yen weakened a bit more,” he said. 87 per dollar after Kan’s comments from around 92. The yen has come off a 14-year high of 84.
82 per dollar in late November but Kan’s comments reinforced expectations he would be more inclined to act against excessive yen rises. Japan’s key exports industry is slowing emerging from Japan’s worst post-war recession so a weaker yen would be welcomed. Major exporters, including Honda Motor Co, have complained about the high levels of the yen. BERLIN — As jittery markets fret about the plunging euro, experts say there’s a potential upside: Europe’s economies stand to profit from the drop of the common currency as exports to the United States and Asia become cheaper. The euro has dropped in value by nearly a quarter since its height of euro1. 60,000, strictly according to currency effects. The lower euro is an advantage especially in Germany, the eurozone’s largest economy and an export powerhouse.
The euro’s becoming weaker naturally helps the German export economy and that helps all of the German economy get back on track,” Volker Treier, chief economist at the German Chambers of Industry and Commerce, told The Associated Press on Tuesday. Exports are the factor in the gross domestic product that has helped liven up the economy,” Treier said. After having slowed in 2009, German exports in March jumped 10. 7 percent on the month and the think tank IW reported this week that it was now predicting a 7. 25 percent increase in exports from Germany, Europe’s largest economy, on the year. It predicted a further 6 percent for 2011.
The euro’s drop against the dollar “tends to favor the German export economy,” IW director Michael Huether said. On this background, exports will become a driving force of economic recovery in Germany. The export advantage of a weaker euro extends to all the 16 nations that use the common currency, so long as they are trading outside the bloc. 45 — a decline of nearly a third.