How much was a dollar worth in 1960? Dollars over the years has gained a huge value. This is because, with the growth of the country, its economic condition is also raised, up to a certain level.
With this rapid development, many countries made the USA as their ideal working place, in the same steps that a developed country has walked, while they were counted in developing nations. The value of the dollar is raised up so much, over few decades. With the change in the era, there are many things that got a huge change in them.
Well if we talk about the 20th century, there were many things that are developed very rapidly, the world got many new technologies and many new inventions? So there are many things that were that held into the market, and many new things that were set up for these things to keep their step in the market, in front of the local public. With this, it increases the import and export of these technologies. It also helps hugely to raise the value of the dollar.
In the starting of the 20th century, the value of the dollar is very low. If in today’s context we say, in 1915 the food, clothing you can buy in just $4.28, you cannot buy the same today even with $100.
If we compare the value of present day’s $100 the value of the dollar in 1960 is just $12.49. The difference is seen in this comparison that, there are has come to a drastic change over few decades.
The main reason behind this much raise in the value of the dollar is the raise of the population, and demand for the commodities. With the increase in demand, the value automatically increases. This is because the population in 1960 is much lower in number when it is compared to the number of people in a state today.