The Federal Reserve announced an unprecedented move yesterday when it decided to cut the target fed funds rate to a range of zero to 0.25 percent. The target benchmark rate is a new low and is part of the Fed's overall effort to combat the recession.
The value of the dollar has been falling since late October when the Fed lowered rates to 1 percent, and it's possible that other currencies like the euro could continue gaining in strength against the dollar. Do you know what the buck is currently worth compared to other currencies? Take the quiz!