The American tourist cashing his traveler's check at Tokyo's Hotel Okura got a bundle of good news. Each of his dollars bought 280 yen, 15 more than the going rate just two weeks before. "The difference isn't much," he smiled, "but suddenly I feel a hell of a lot better. The good old U.S. dollar is getting back to where it should beĀthe world's best money."
If not the world's best, the dollar surely is the world's most revivified currency. Devaluation and floating the dollar against other currencies shaved 10.5% off its worldwide...
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