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The weakening of the dollar

Tags: euro
Posted in Xavier Finans, Xavier Media® Group on November 17th, 2009 by Andreas Xavier

If you are like us and live in Europe, while you earn most of your income from USD based companies you must have noticed the horrible change in exchange rates between the euro and the dollar this year.

When you do business online today the most popular currency is the dollar, but that’s not good if you’re located in a country which doesn’t use dollar since the dollar have lost a lot of buying power this year.

To get an idea, just have a look at how the exchange rate between dollar and euro have developed over the year:

The dollar has gone from an high-level of 0.79 against the euro down to 0.67 today!!!! This means that for every dollar you make you’re actually earning 15% less that you would in April this year. And that’s without losing any sales at all.

There’s a similar trend for other currencies too, like for the Swedish Krona (SEK):

The drop here is from 9.25 in March down to 6.87 today. That’s even worse then the development for the euro since that’s a loss of 25.7%!!!

Lets hope the development changes soon, or Internet companies will have to start paying in euro instead.

A big thanks to Xavier Finans for the graphs.

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