dollar rose very rapidly," said Helleiner. "It eventually generated considerable protectionist sentiment."Įffectively, foreign goods priced in cheaper foreign currencies swept into the U.S. "What we haven't seen but could emerge over the more medium term is that early eighties experience, when the U.S. A price to payĪs money flows into the security of the U.S. dollar, that country too, may have a price to pay in future. dollars and yet hold their collateral and get their revenue in a much-depreciated local currency can end up facing default. Similar to what happened in the Latin American debt crisis beginning in the 1980s, known as "The Lost Decade," he said the countries and businesses that have borrowed in U.S. Orders placed by phone and/or directly at the counter may have different rates and fees may apply. Client sells at: (Receives canadian ) 1 USD 1.293225 CAD. dollar is rising, it puts huge pressure on countries that have debts denominated in dollars," said Helleiner. Client buys at: (Pays canadian ) 1 USD 1.373219 CAD.
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