The Economy: Tips for Travelers: Don't Bring Cash

U.S. travelers got the best deals for their dollars last week in—of all places—Israel, Tanzania and East Germany. After Nixon's August bombshell, Israel devalued its money: it now gives £4.20 Israeli to the dollar instead of the old £3.50 rate, and many stores cut another 15% off the prices of goods bought with dollars. On the flourishing black markets in Tanzania, Indian businessmen who are being forced out of the country by "Africanization"' are buying dollars at twice the legal rate of exchange. And at the Leipzig Fair, East Germany's Communists offer the...

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