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Thu 11 Nov 2007Falling tide of the dollar set to take further toll on
Irish competitiveness
As the US currency sinks to its lowest level against the euro, Paul Tanseylooks at the implications
The dollar fell to its lowest ever level against the euro yesterday, closing at $1.4462 in Dublin. As a result, the euro has strengthened by 57 per cent against the US currency since the beginning of the decade. The average value of the US currency against the euro in 2000 was $0.9236. Thus, in the space of seven years, the value of the euro in terms of US dollars has risen by more than $0.52.
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