Rise and fall of dollar places off-base renters in a squeeze

[unhappycamper]

One dollar bought 97 yen on the most recent military payday -- Oct. 15 -- at the Community Bank on Yokosuka Naval Base. The falling dollar value can make it harder for servicemembers and civilians who live off base to pay rent.


Rise and fall of dollar places off-base renters in a squeeze
By Teri Weaver and Tim Wightman, Stars and Stripes
Pacific edition, Thursday, October 23, 2008

YOKOSUKA NAVAL BASE, Japan — Charles Molden calls it the stare-at-the-yen-rate game.

"And sometimes I’m not too good at it," Molden admitted.

As a civilian paying off-base rent and as deputy director at the Human Resources Office at Yokosuka Naval Base, Molden has watched in recent days as the dollar’s value has fallen against the yen.

"I should have paid my rent two weeks ago," Molden said last week. "I would have paid less."

Like other Department of Defense workers and servicemembers living off base, Molden receives a housing allotment in dollars in each paycheck. Those dollars, in turn, must be converted to yen to pay rent and utilities.


Rest of article at: http://www.stripes.com/article.asp?section=104&article=58306