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September 5, 2008 8:52:54 PM CDT

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Big Apple Opens Arms to Euros

Posted Feb 7, 08 12:00 PM CST in US,  Business 

(Newser) – The falling dollar has made the US a travel bargain, and some merchants in New York City have flung open their doors—and their tills—to the sudden influx of foreign currencies, Reuters reports. The euro, up 12% against the dollar in the past year, is particularly common. "Money is money,” said wine-store owner Robert Chu.

While the dollar has long been accepted in shops around the world, US merchants—with the exception of some along the Canadian and Mexican borders—have largely dealt exclusively in dollars. No more. “We didn't realize we would take so much in," Chu said. "Some days, you'd be surprised at how many euros you get."

Source Reuters

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Euro coins are seen next to U.S. Dollar bills in Frankfurt, central Germany, in this Sept. 20, 2007 file photo, after the euro reached an all time high of more than US$1,40. (AP Photo/Michael Probst,...   (Associated Press)
A one Euro coin sits atop U.S. one-dollar notes in this July 5, 2005 file photo in Gelsenkirchen, Germany.   (Associated Press)
Some stores in New York City are accepting euros.   (Getty Images)
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New York City  • US dollar  • euro  • weak dollar  • Mexican border  • exchange rate  • foreign currency


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