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Big Apple Opens Arms to Euros

Stores taking foreign currency as weak dollar encourages tourists

By Jim O'Neill, Newser User

Posted Feb 7, 2008 12:00 PM CST

(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."

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)

Some stores in New York City are accepting euros. (Getty Images)

A one Euro coin sits atop U.S. one-dollar notes in this July 5, 2005 file photo in Gelsenkirchen, Germany. (Associated Press)

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Stores taking foreign currency as weak dollar encourages tourists

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Big Apple Opens Arms to Euros

Stores taking foreign currency as weak dollar encourages tourists

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OTHER STORIES ON OUR RADAR

New York City • exchange rate • Mexican border • euro • US dollar • weak dollar • Big Apple • Canadian border • foreign currency

MOST POPULAR STORIES

[ By Views ]

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More Newser Stories

Euro Cracks $1.50, Dollar Hits New Lows

Investors shun low-yielding greenback for riskier currencies

Dollar Headed for Biggest Gains Since '81: Bankers

Greenback set for 17.1% gain against euro

Dollar Hits 2009 Low

Credit rating fears send greenback falling against pound, euro

New York Loves Euros

Awash in tourists, Big Apple shops welcome stronger currency

Dollar Nears 3-Year Low

Set for biggest weekly plunge since January

About Us

Site

Newser By Users

Community

Site Maps

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What is Newser?