In this Illustrated Economics, Howard dives into how currency exchange rates affect our visitors.
International visitors to Hawaii typically convert their money to U.S. dollars. But currency exchange rates change all the time.
The Japanese yen has lately been very strong. Today it takes 107 yen to buy a dollar. Yesterday it was 106.
Last year it often took 115 yen to buy a buck.
The lower the number, the more strength, vis-a-via the dollar.
When the dollar is strong, it means other currencies are weak, and that can deter people from coming, or they'll come but spend less.
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