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The impact of exchange rate movements on U.S. foreign debt

Author

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  • Cedric Tille

Abstract

In 2001, the United States' net debt to the rest of the world jumped to $2.3 trillion, a level double that recorded in 1999. Much of the increase reflects the new borrowing undertaken by the country to finance its mounting current account deficit. A third of the change, however, can be traced to a simple accounting effect--the impact of a rising dollar on the value of U.S. assets held abroad.

Suggested Citation

  • Cedric Tille, 2003. "The impact of exchange rate movements on U.S. foreign debt," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 9(Jan).
  • Handle: RePEc:fip:fednci:y:2003:i:jan:n:v.9no.1
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