While the renminbi has risen relative to the dollar, the dollar has declined against other major currencies.

During the same period, the dollar fell by 15 relative to the euro and 12 against the yen.

With the euro rising relative to the dollar, the yen s fall relative to the euro has been even greater.

For the eurozone, it implies a strong exchange rate vis à vis the dollar (and, by implication, the yen, as the Bank of Japan closely monitors the yen dollar exchange rate).

So far, however, the RMB s appreciation against the dollar has been slow.

The franc fell 8.8 against the euro, 9.5 against the dollar, and at least 8.2 against all 16 of the most active currencies on the day of the announcement.

Since early 2002, the dollar has fallen by one third against major currencies, and recently this decline has intensified.

The yen s value against the US dollar has declined by more than 7 in the last month. With the euro rising relative to the dollar, the yen s fall relative to the euro has been even greater.

On January 1, 2008, the franc was valued at 1,129.40 per US dollar.

The Swiss franc has increased more than 40 against the dollar and therefore more than 30 against the renminbi.

In early October 2004, during and immediately after the election of the Transitional Federal Government, the exchange rate of the illegal currency appreciated from 25,000 to 18,000 shillings to the United States dollar.

The greenback has fallen against the euro by nearly 15 since the beginning of the summer.

It can t unilaterally adjust the level of the dollar against the Chinese renminbi.

Eurozone financial markets have stabilized, and the euro has appreciated against the dollar and the yen.

In just over two months, the yen has weakened by more than 10 against the dollar and close to 20 against the euro.

In response to the announcement the franc fell against the euro, to 1.22 francs from 1.12 francs and lost 9 against the U.S. dollar within fifteen minutes.

According to the informal exchange rate, the kyat s worth is currently about 1,000 to one against the dollar.

The yen s value against the US dollar has declined by more than 7 in the last month.

The 20 revaluation of the renminbi against the US dollar in 2005 2008 undoubtedly facilitated this in the case of recipient countries whose currencies did not also appreciate against the dollar.

The dollar s 10 decline relative to the euro over the past 12 months implies that the renminbi is actually down by about 4 relative to the euro.

The dollar has declined during the past two years against not only the euro but also against most other currencies, including the Japanese yen and the renminbi.

In fact, Brazilians purchasing power could shrink further, owing to the depreciation of the real against the dollar.

The official exchange rate pegs Burma s currency, the kyat , at a rate of six to one against the US dollar.

These changes are likely to make today s attempts to find an equilibrium yuan dollar exchange rate seem just as chimerical in hindsight as previous calculations of the yen dollar equilibrium rate.

In the past 12 months, the renminbi strengthened by 6 against the dollar, its reference currency.

In the last two months, their currencies have lost around a quarter of their value against the US dollar.

Countries that allowed their currencies to appreciate relative to the dollar will experience a sharp slowdown in export growth.

After years of decline against the U.S. dollar, lempira recently stabilized at around 19 lempiras per dollar.

In some regions of the country, such as Puntland , the exchange rate topped 13,000 shillings to the United States dollar.

The continuing weakness of the dollar against the euro has had a sizeable impact on the revised expenditure estimate for the current biennium.

The dollar has declined during the past two years against not only the euro but also against most other currencies, including the Japanese yen and the renminbi. On a real trade weighted basis, the dollar is down about 13 relative to its value in March 2006.

When the euro was launched, the US dollar euro ( ) exchange rate stood at 1.16 1.

The 7.8 exchange rate was maintained at the cost borne by all citizens of six years of economic stagnation.

And that will require a less competitive euro higher relative to the dollar and other currencies.

Until the recent crisis in Greece, the US benefited from a weak dollar euro exchange rate.

The exception was China, where the renminbi held steady against the dollar, causing an initial appreciation against almost every other currency.

As a consequence, the euro is rising not only against the US dollar, but also against Asian currencies, whose central banks intervene in foreign exchange markets to fix their currencies value against the dollar.

And, while the Chinese yuan has remained more or less unchanged relative to the US dollar in the past year, the dollar s sharp appreciation relative to the euro and other currencies caused the overall trade weighted value of the yuan to rise. This further depressed Chinese exports.

Another idea being discussed in Chinese policy circles is to allow the renminbi to appreciate against the dollar.

The greenback has lost more than a quarter of its value against other currencies, adjusted for inflation, over the last decade.

And the recent rise in the value of the dollar relative to the euro and the British pound helps by reducing import costs.

Japanese intervention cannot explain the revaluation of the euro against the dollar and many other currencies.

Between 2000 and 2005, the dollar lost more than 25 of its value against the euro.

Spain and Greece have managed to achieve an internal devaluation of about 5 this year vis à vis Germany, but their competitiveness vis à vis the US and dollar linked countries has not improved, because the euro has appreciated by more than 5 against the dollar.

The yen s depreciation versus the dollar has contributed to continuing large US trade deficits with Japan.