The Greenback Losing Global Appeal

THE dollar used to be the universal tourist currency, accepted almost anywhere, from the streets of Hanoi to the plains of Africa.

But the continued slide of the dollar against other currencies has led the greenback to be shunned in unexpected places, creating new problems for American travelers and pushing prices higher.

The Taj Mahal has stopped accepting dollars for the entrance fee, under a new edict from the Indian Ministry of Culture.

Some tour operators say they have encountered newfound resistance to dollars in parts of Vietnam and Peru, especially in villages that are off the beaten path.

Even in New York, some shops are encouraging payment in foreign currency. A recent article in The Villager, a Manhattan neighborhood newspaper, noted that East Village Wines, a liquor store at 138 First Avenue, accepts payments in euros as well as dollars.

Source: NY Times