A Look Back at the Dollar's Plunge in 1995
MELISSA BLOCK, host:
The last time the dollar sank to 100 yen was November 9, 1995. And that got us wondering about other financial indicators from that time.
Well, today, the euro traded for a record $1.60 before closing slightly lower. Back in 1995, there was no euro but a dollar bought 1.4 German marks. Today, Gold sold for above $1,000 an ounce. In '95, it was just above $386. And then, you could get a barrel of oil for around $14. Today, it costs $111 a barrel. On November 9, 1995, the stock market closed at a stunning high, 4,864. Today's close: 12,145. One thing was higher in 1995 than today, the unemployment rate, 5.4 percent was considered good news in 1995. Today, lots of people are concerned about 4.8 percent unemployment.
And one last musical note, the top hit on the Billboard Hot 100 Charts for that week back in '95 and the week before that and the week before that, Mariah Carey's "Fantasy." Transcript provided by NPR, Copyright NPR.
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