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It's all over the business news today, the US dollar is hitting all-time lows versus the Euro as well as the Canadian dollar. What should you do about it? I think that now is a good time to assess your portfolio and make sure you have a stock or two that benefit from the weak US currency. The stocks that are likely to benefit from such weakness are generally stocks of companies that have an established overseas business. The following is my list of what I believe to be the top 5 stocks that benefit from a weak dollar.

1. The Proctor and Gamble Company (NYSE:PG)- This company brings in more revenue from overseas than from the United States and is a clear market leader in several areas.
2. The Coca Cola Company (NYSE:KO)- KO has a very nicely growing business overseas and benefits nicely from the weak dollar. The 2.4% dividend doesn't hurt either.
3. International Business Machines Corporation (NYSE:IBM)- The most obvious large cap tech play that should benefit from a weak dollar. The company has raised earnings guidance for 2007 and 2008 as well.
4. Schering-Plough Corporation (NYSE:SGP)- Drug stocks are a good way to play the weak dollar. SGP has really turned its business around and analysts continue to raise their profit estimates for the company.
5. Burlington Northern Santa Fe Corporation (NYSE:BNI) Railroads are a great way to play a weak dollar. The railroads should benefit from a continuing boom in exports. It also doesn't hurt that Warren Buffett is a major holder of BNI.

In the current economic environment it seems unlikely that the US dollar will be making a huge rally anytime soon, so now seems like a good time to position yourself.

There are plenty of disadvantages to the weaker dollar, but right now I believe it is up to the individual investor to take it upon themselves to benefit from the weakness in the currency. 

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*disclaimer* The 5 stocks listed above are simply stock ideas, please do the research yourself before investing in these names.