The international value of the dollar: An inflation-adjusted index
The value of the dollar relative to a
number of major currencies has declined
markedly since early 1985. Yet, measures of
U.S. international trade continued to deteriorate
in 1986. The current account deficit
during the first half of 1986 was running at an
annual rate of nearly $140 billion, compared
with a deficit of $118 billion in 1985, and a $6
billion surplus as recently as 1981.
