Dollar appreciation is the result of good American economy. People demand more American goods and services and pay in dollars since American lenders, producers, sellers operate in the U.S. and therefore need dollars, not Russian rubbles. The author should tell about the possibility that U.S. economy can go to recession due to a capitalistic business circle. The economy has already experienced seven years of an expansion and therefore most probably in less than a year it will be a recession in the U.S.A..The comparison between the dollar and the currencies of the American competitors such as Germany and Japan is relevant since there are a lot of transactions between these countries and, therefore, a lot of investors who care about this exchange. The author confuses me a little with the phrase regarding central banks. What is the difference between central banks interventions and monetary intervention? Are central banks major capitalists in the foreign exchange market? If they are, their intervention can be only short terms and may not reflect the state of the economy. Keeping a low interest rate during the current expansion is good for the economy since it reduces inflation. Nevertheless, I want to ask few questions to Mr. Rubin. Is “strong” dollar the main cause of fluctuation of interest rates? Maybe interest rates influence foreign exchange. Low interest may indicate that economy is in recession and there are no inventions. The appreciation of dollars causes the increase in imports and decrease in exports in the long run. What are other economic benefits of “strong” dollar?