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‘Bad situation’: Soaring US dollar spreads pain worldwide

A worker looks for items at a secondhand car parts warehouse in the industrial area of the capital Nairobi, Kenya, Friday, Oct. 7, 2022. In a gritty neighborhood of Nairobi known for fixing cars and selling auto parts, businesses are struggling and customers are unhappy. (AP Photo/Brian Inganga) A man sleeps beside jeepneys waiting for passengers at a terminal in Pasay, Philippines Tuesday, Oct. 11, 2022. Many Filipino drivers complain that inflation, and especially the rising price of diesel, is forcing them to work more to get by. (AP Photo/Aaron Favila) A worker fills up a plastic container with gasoline at a gas station in Pasay, Philippines Tuesday, Oct. 11, 2022. Many Filipino drivers complain that inflation, and especially the rising price of diesel, is forcing them to work more to get by. (AP Photo/Aaron Favila) Jeepney driver Raymond Manaog, 29, watches on his smart phone as he waits in line at passenger terminal in Pasay, Philippines Tuesday, Oct. 11, 2022. Manaog complains that inflation, and especially the rising price of diesel, is forcing him to work more to get by. (AP Photo/Aaron Favila) Celal Kaleli, right, talks to clients in his infant clothing and diaper bags shop in a commercial area in Istanbul, Turkey, Friday, Oct. 7, 2022. Kaleli, needs more lira to buy imported zippers and liners priced in dollars, he has to raise prices for the Turkish customers who pay him in the much-diminished local currency. “When we sell in Turkish lira, we have difficulty,’’ he said. (AP Photo/Khalil Hamra) Small retailers shop for dry fruits in a wholesale market, in New Delhi, Monday, Oct. 10, 2022. A record drop in the rupee -- on top of higher raw material and shipping costs - has made the nuts much costlier for Indian consumers. (AP Photo/Manish Swarup) Ravindra Mehta, 53, a job as a consultant of dry fruits industry talks on his mobile phone standing in a wholesale market, in New Delhi, Monday, Oct. 10, 2022. Mehta said that in recent months, his sales have taken a big hit as an increasingly weak rupee battles against the rising US dollar. (AP Photo/Manish Swarup) Traffic is seen in the downtown area of the capital Nairobi, Kenya, Friday, Oct. 7, 2022. With the Kenyan shilling down 6% this year, the cost of fuel and imported spare parts is soaring so much that some people are choosing to ditch their cars and take public transportation. (AP Photo/Brian Inganga) Workers gather as they wait for customers outside a secondhand car parts shop in the industrial area of the capital Nairobi, Kenya, Friday, Oct. 7, 2022. In a gritty neighborhood of Nairobi known for fixing cars and selling auto parts, businesses are struggling and customers are unhappy. (AP Photo/Brian Inganga) People walk past clothes shops in a commercial street in Istanbul, Turkey, Friday, Oct. 14, 2022. As the value of the U.S. dollar soars, other currencies around the world are sinking by comparison. (AP Photo/Khalil Hamra) People walk along a commercial street with clothes shops in Istanbul, Turkey, Friday, Oct. 14, 2022. As the value of the U.S. dollar soars, other currencies around the world are sinking by comparison. (AP Photo/Khalil Hamra) A man holds bank notes as he leaves a currency exchange shop in Istanbul, Turkey, Friday, Oct. 14, 2022. As the value of the U.S. dollar soars, other currencies around the world are sinking by comparison. (AP Photo/Khalil Hamra) A man changes his US dollars to Philippine Pesos at a money changer in Manila, Philippines Tuesday, Oct. 11, 2022. A surging U.S. dollar is spreading higher prices and financial volatility around a world already contending with war, disease, food shortages and an energy crunch. (AP Photo/Aaron Favila) Salesmen wait for customers at a secondhand car parts warehouse in the industrial area of the capital Nairobi, Kenya, Friday, Oct. 7, 2022. As the value of the U.S. dollar soars, other currencies around the world are sinking by comparison. (AP Photo/Brian Inganga) A worker looks for items at a secondhand car parts warehouse in the industrial area of the capital Nairobi, Kenya, Friday, Oct. 7, 2022. As the value of the U.S. dollar soars, other currencies around the world are sinking by comparison. (AP Photo/Brian Inganga)