Times Union: Riding the Strong Dollar
Published:
Monday, February 9, 2015 - 15:47
Port of Albany viewed from Corning Tower Monday
afternoon, Dec. 15, 2014, in Albany, N.Y. (Will
Waldron/Times Union)
Despite frigid temperatures, stevedore Matthew Kelly
loads some of the 3000 one ton bags of calcium chloride
to be shipped to Canada by truck Wednesday, Jan. 14,
2015, at the Port of Albany in Albany, N.Y. (Skip
Dickstein/Times Union)
These are boom times at the Port of Albany as grain, heavy industrial equipment and other exports are shipped down the Hudson River and overseas.
Exports from the Capital Region are on the rise, despite a strong dollar that has made many of these goods more expensive.
Upstate business leaders surveyed by the Federal Reserve Bank of New York said last month that while the strong dollar is having an unfavorable effect on foreign sales, it is helping domestic sales and overall it is expected to boost profits in 2015.
What's going on here?
BY ERIC ANDERSON | February 7, 2015 eanderson@timesunion.com • 518-454-5323
