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Big Apple Opens Arms to Euros

Stores taking foreign currency as weak dollar encourages tourists
By Jim O'Neill,  Newser Staff
Posted Feb 7, 2008 12:00 PM CST
Big Apple Opens Arms to Euros
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, file)   (Associated Press)

(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.

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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." (Read more euro stories.)

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