Bahamas: Minimal impact from the declining U.S. dollar on the Bahamian economy2008-02-12 23:45:00
Minimal impact from from declining U.S. dollar:
By TERENCE MURRELL,Guardian Business Desk -
Nassau, Bahamas:
The declining value of the U.S. dollar against other currencies such as the euro and the loonie, has so far had a minimal impact on Bahamian businesses, many of whom import goods from the U.S., in particular Florida.
"The impact is not being felt as strongly, as most of the importation occurs from the U.S. market, particularly Florida, but it is certainly something we need to watch, particularly as it pertains to purchasing power, an issue which local businesspersons are grappling with," said Philip Simon, Executive Director of the Bahamas Chamber of Commerce. "Essentially the declining U.S. dollar means exporters may be getting less with the same currency," he noted.
The U.S. dollar continued to slip against most major currencies yesterday, as traders awaited for economic reports on the European Union to be released this week. In fact, the dollar has declined as much as
Show All