THE BANGED-UP BUCK

A RUN ON THE DOLLAR SENDS IT CRASHING TO NEW LOWS AND FURTHER REDUCES ITS ROLE AS THE WORLD'S LEADING CURRENCY

AS THE U.S. DOLLAR COLLAPSED against the German mark and the Japanese yen last week, Sara McBain saw the impact for herself in a supermarket in Tokyo. The housewife, visiting from Chicago, stared in disbelief at cranberry juice that cost nearly $7 a quart at the going exchange rate, some four times as much as a similar bottle would sell for back home. A large box of Cheerios cost more than $12. But it was the meat counter, she says, that "really threw me for a loop." There she discovered roast beef for about $16 a quarter-pound. That made McBain wonder...

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