Weak Dollar Hurts Family Abroad
Friday, April 18th, 2008For months, Christopher Zambakari has watched online as the U.S. dollar’s value declined – especially its relation to the Ugandan shilling.
A 22-year-old foreign student living in Manhattan, Zambakari and his mother regularly wire money to Uganda to support 15 relatives there.
And while his classmates at the European School of Economics in Midtown rejoice at the strength of the Euro or the British pound, the dollar’s weakness means trouble for the MBA student’s family in Africa.
