The US dollar has steadily depreciated against major currencies in the last five years. Recently, the decline has been even sharper. In early November, the US dollar hit its lowest level against the euro since that currency’s debut in 1999. The value of the British pound is the highest its been to the US dollar in 26 years.
Dr. Frank Braconi, Chief Economist at the City Comptroller’s Office, joins us in our studio in Times Square to discuss how the weaker dollar is affecting New Yorkers.
Producer: Sebastian Bednarski
Reporter: Vinita Singla