The Dollar and U.S. Manufacturing
نویسندگان
چکیده
The Rise in the U.S. Dollar The value of the dollar has climbed steadily over much of the past two years (Chart 1). The dollar’s rise through August 1998 represents more than a 20 percent appreciation over its average value in the 1991-95 period and more than a 30 percent strengthening relative to its unusually weak performance in April 1995. This large appreciation is reminiscent of the appreciation observed in 1985. At that time, the dollar rose 25 percent above the 1980-84 period average and approximately 50 percent above the dollar’s trough in mid-1978.
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