Washington: US President George W Bush has said that the record low of the dollar against the euro was "not good tidings" and he backed a stronger dollar. Asked on PBS television yesterday, if he wanted a stronger dollar, Bush replied: "I would, absolutely."

Bush noted that the plunging dollar, which hit an all-time low of USD 1.5570 to one euro in trading yesterday, had raised costs for US consumers, including for imported oil.

"Those aren't good tidings, if you re for a strong dollar like I am," Bush said about the exchange rate.

"One reason I am for a strong dollar is because ... I think it helps deal with inflation," he said.

"Our dollar doesn't buy as many barrels of oil as it used to, and so therefore it s more expensive for the American people."

Bush said the dollar could be helped by implementing policies that strengthen the economy.

"We can send signals to the world that their capital is welcomed into the United States, that we ll fight off protectionism, and that we ll deal with this," he told PBS.

"And so that's why I said ... We put policies in place that are temporary and robust, that we think will affect growth, without damaging the environment for capital investment or entrepreneurial growth," Bush said.

Source : PTI