How low can the dollar fall?

United States
December 7, 2006 9:47am CST
The dollar started to slide over the American Thanksgiving holiday, and has continued ever since. £1 is now worth $1.963. Some predict that by christmas it will be $2 to £1 (in other words the dollar will be worth just 50 pence!) How low people think it will go? I'm hoping not much lower, as MyLot pays in dollars, which seem to be worth less and less when converted back to pounds!
4 responses
• United States
25 Feb 07
You started this discussion 3 months ago, I am curious to know where the value of a dollar is today? And have you been to NY to shop? LOL WHere would I go online to check something like that out? Value dollars that is I can always find somewhere to shop. hehehe
• United States
26 Feb 07
Well £1 is $1.955. It seems to be sluctuating between $1.950 and $1.970. The problem is when you convert your MyLot earnings back into pounds - because of commission it works out at $2.005, which is shocking. In 2002 £1 was worth $1.40. Just to give you an idea, a $10 Mylot payment in 2002 was worth £7.14. Now it's worth £5. That's a 30% drop in value, which is a lot!
1 person likes this
• United States
26 Feb 07
Wow, that is a bit cut 30%. I'm still a little confused about the whole money conversion and value. Can you recommend a site that would explain it.
@mturker (174)
• Israel
25 Feb 07
It's all to do with market forces, obviously. My guess is that the dollar will start going back up in 2-3 months.
• United States
26 Feb 07
I hope you are right about the dollar strengthening.
@istanto (8565)
• Indonesia
7 Dec 06
I hear rumor from some forex trader they say dollar weak over 2 weeks because there is problem in iraq. I hope it will raise again and we can enjoy our $ from mylot. hehe..
• United States
8 Dec 06
I hope the dollar strengthens too.
@Marie2473 (8519)
• Sweden
7 Dec 06
this is very interesting and here in sweden people are buying dollars now coz everyone is sure that it sooner or later will go up again. The dollar has fallen before, but it always go back up again!
• United States
7 Dec 06
Some here in Britain are thinking of going to New York to do some shopping! I do hope it doesn't fall further, but if you look at the broad trend, the dollar has been falling since about 2002, when £1 was worth $1.40