The continued weakness of the U.S. dollar on international currency markets is stimulating sales of U.S.-based business aircraft to foreign buyers. With the dollar recently reaching historic lows against the three-year-old euro, prospective buyers from Europe are pouncing on exchange-rate-based discounts.
When the euro was launched in 12 European countries on Jan. 1, 2002, it was worth 89 cents (subsequently declining to a low of 85 cents during the course of that year). By the end of last year, the euro had increased in value against the dollar by almost 60 percent, to buy just over $1.36. Over the past couple of months, the dollar has rallied slightly to reach $1.30 against the euro on February 4 (compared with an average exchange rate over the past three years of around $1.11). Other leading international currencies, such as the British pound, have also maintained high values against the dollar over the past six months or so.
