Monday, March 17, 2008

Value of Dollar Drops Today

As the pictures show, the U.S. dollar is shrinking. The latest data shows the value of the dollar is at an all-time low. It is $1.70 to the English pound and $6.80 to the Euro. Data also shows there are no signs of declining gas prices.

NCC News Reporter Joe Mauceri talked with Don Dutowsky, a Professor of Economics at the Maxwell School at Syracuse University. He offers advice on how people can cope with the dollar's declining value. For young people, Dutowsky suggests they wait for the market to work itself out if possible. For adults, Dutowsky advises them not to invest in too much stock and over extend themselves.

Mauceri will explain how the shrinking dollar is affecting Central New Yorkers in today's 4:30 p.m. newscast.

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