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SUNDAY, NOVEMBER 8, 2009
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NEWS ABOUT: currency

currency stories: 47 news summaries

1 - 20 of 47 Stories | 1 2 3 Next >>

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PAUL KRUGMAN

 China Must Be
Confronted on Currency

Shackling the yuan to the dollar threatens world economy

Oct 23, 09 5:00 AM CDT
(Newser) - China has been allowed to get away with its outrageous currency policy for far too long and it's time the world did something about it, writes Paul Krugman. The nation has been keeping its currency effectively pegged to the dollar, and this policy will result in even greater trade imbalances... More »

MORE ABOUT:
currency • yuan • Chinese economy • US dollar • US currency

 Euro Cracks $1.50, 
 Dollar Hits New Lows 


Investors shun low-yielding greenback for riskier currencies

Oct 22, 09 4:00 AM CDT
(Newser) - The dollar fell below the $1.50 threshold against the euro yesterday for the first time in 14 months, as investors with renewed appetites for risk continue to abandon the greenback. The dollar is at its lowest level against six other currencies in more than a year, and foreign exchange... More »

MORE ABOUT:
currency • exchange rate • euro • US dollar • weak dollar

 Oil States Plot to Ditch Dollar 

Gulf Arabs in talks to replace greenback with mix of currencies

Oct 6, 09 1:20 AM CDT
(Newser) - The American dollar is dropping against the yen and euro amid reports that the Gulf states are planning to replace use of the greenback in oil trading in favor of a basket of mixed currencies. The Arab states are in advanced discussions with China, Russia, Japan and France to end... More »

MORE ABOUT:
China • oil • currency • euro • US dollar • US currency • currency trading

(Newser) - The American economy is heading out of recession, but the long-term fate of the dollar may not be so bright, writes the Wall Street Journal. Growing numbers of economists and investors, including Warren Buffett, say that stimulus spending and rate cuts will boost inflation and weaken the greenback. At the... More »

MORE ABOUT:
inflation • currency • debt • national debt • US dollar • weak dollar

(Newser) - China is speeding up efforts to encourage the use of its currency in international trading, with analysts predicting that the Chinese renminbi will become one of the three top currencies by 2012, reports the Times of London. In recent months Beijing has inked currency-swap deals with central banks from Korea... More »

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China • currency • yuan • Chinese economy • US dollar • foreign currency • renminbi

(Newser) - California's recently issued IOUs are only the latest in a long history of dollar substitutes in America, the Wall Street Journal reports, and they're already being eyed by collectors of  temporary currency on everything from leather to plywood to old tires to clamshells. Schwarzenegger's scrip is plain in comparison to... More »

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California • currency • Great Depression • IOU

(Newser) - Sure, the global economy might collapse spectacularly and send us all back to a barter system. But that’s inefficient, Greg Sabin writes on Mental Floss, and “almost all civilizations have come up with currencies.” A sampling of what might be in your wallet next week:
  • Shells:
... More »

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currency • list • recession • chocolate • cacao • barter • shells • abalone • feather • wampum

 Dollar Headed for Biggest 
 Gains Since '81: Bankers 

Greenback set for 17.1% gain against euro

Jun 29, 09 8:24 AM CDT
(Newser) - The dollar is poised for its biggest advances in 28 years, according to Deutsche Bank, which predicts a 17.1% gain against the euro by the end of the year. Other banks polled by Bloomberg are similarly bullish about the greenback, which has just endured its worst quarter since 2002.... More »

MORE ABOUT:
currency • exchange rate • currency exchange • euro • US dollar • weak dollar

 Dollar Hits 2009 Low 

Credit rating fears send greenback falling against pound, euro

May 22, 09 6:48 AM CDT
(Newser) - The dollar fell to its lowest level of the year today as investors grew nervous that the US could lose its triple-A credit rating, Reuters reports. The greenback declined to $1.39 against the euro and $1.58 against the pound, echoing similar drops across the world. Yesterday, Moody's said... More »

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currency • exchange rate • pound • euro • US dollar • weak dollar • Triple-A credit rating • credit rating • Jay-ZTV

Forget Dollars, Make Your Own Currency

'Complimentary' monetary systems next big thing, futurist says

Apr 14, 09 3:00 PM CDT
(Newser) - Futurist Douglas Rushkoff is trying to talk Craig Newmark into creating “craigbucks,” a specialized currency for trading goods on Craigslist. Rushkoff, who notably predicted the rise of social media, thinks do-it-yourself “complimentary currency” is the future of money, Portfolio reports. Complimentary currencies typically spring up and thrive... More »

MORE ABOUT:
currency • currency exchange • Craigslist • futurists • complimentary currencies

Boy George Replaces Queen on Fake Bills

British shop workers fooled by his-head-for-hers forgery

Mar 26, 09 7:33 AM CDT
(Newser) - Boy George made a convincing stand-in for the Queen on a counterfeit note found in Britain this week, the Daily Telegraph reports. The £20 note was passed at a stationary shop and the staff didn't realize it was a fake until a bank worker checked the anti-forgery watermark and... More »

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currency • counterfeit • Britain • watermark • Boy George • forgery • Howard Stern Grid

 China: Ditch the Dollar 
 as World Standard 

Central bank says IMF asset could be solution

Mar 24, 09 9:43 AM CDT
(Newser) - Highlighting international anger over the sorry state of the US economy, China has called for the dollar to be dumped as the global currency standard, the Wall Street Journal reports. China’s central bank said an International Monetary Fund asset could take over the dollar’s global role, Reuters reports.... More »

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China • currency • International Monetary Fund • US dollar • international currency • Bank of China

Geithner: China 'Manipulating'
Its Currency

Strong charge could
roil relations at a delicate time

Jan 22, 09 7:26 PM CST
(Newser) - Tim Geithner today accused China of "manipulating" its currency, a volatile charge in the diplomatic world that is certain to anger Beijing and possibly prompt it to sell some of its massive reserves of US dollars, the New York Times reports. The Treasury nominee made the accusation in a... More »

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China • currency • Obama administration • Treasury secretary • Treasury bills • Timothy Geithner

Feds: Today's Counterfeiters Are Poor Copies

Ink-jet amateurs replace skilled crooks who once fooled experts

Dec 27, 08 8:29 AM CST
(Newser) - Secret Service agents are waxing nostalgic for counterfeiters of old, the Kansas City Star reports. The printers who once produced 20s, 50s, and 100s good enough to fool experts have been replaced by home office crooks who reproduce small bills on ink-jet printers. "It’s a lost art,"... More »

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currency • Secret Service • counterfeit • money • US currency • counterfeiters • forgery

MARKETS

 Dow Off 100 as Rate Rally Dies 

Stocks fall on poor earnings, more job cuts

Dec 17, 08 3:27 PM CST
(Newser) - Stocks turned lower as jubilation over the Fed’s rate cut yesterday died down and concerns about the slumping economy returned today, the Wall Street Journal reports. Losses by Morgan Stanley and Goldman Sachs dragged financials lower. The Dow closed down 99.80 at 8,824.34. The Nasdaq fell... More »

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currency • Goldman Sachs • Dow Jones • Morgan Stanley • unemployment • Nasdaq • US dollar • S&P 500 • financial crisis

 Russia's Credit Rating Lowered 

Putin in trouble

Dec 9, 08 1:59 PM CST
(Newser) - The plummeting ruble might just bankrupt Russia, the Financial Times reports. Standard and Poor’s has dropped the G8 member’s credit rating from BBB+ to the lowly BBB, warning that the country may have to spend all $200 billion in its sovereign wealth funds to recapitalize the banking... More »

MORE ABOUT:
Russia • currency • Standard and Poor • foreign currency • credit rating • financial crisis

ANALYSIS

Dollar's Long Rally Likely
to Stall in 2009

Recession, low interest rates will catch up with buoyant greenback

Dec 8, 08 5:28 AM CST
(Newser) - The once moribund dollar has soared 20% against foreign currencies since July, one of the few bright spots in a grim financial landscape. The dollar traded against the euro at $1.28 this morning, down from a high of over $1.60 this summer. But the dollar's rally is expected... More »

MORE ABOUT:
currency • exchange rate • currency exchange • euro • US dollar • US currency • financial crisis

Fed Grabs Another $30B in Currency Swap

Lines set up with banks in Australia, Europe to ease credit

Sep 24, 08 10:00 AM CDT
(Newser) - The Federal Reserve announced today that it had set up another $30 billion worth of currency swap lines—designed to put more dollars into world markets—in its latest effort to deal with the credit market. The Fed arranged two $10 billion reciprocal circuits with Australia and Sweden’s central... More »

MORE ABOUT:
Ben Bernanke • currency • currency exchange • liquidity • US dollar • bailout • financial crisis

 Asian Markets Plunge 

US financial turmoil sparks regional selling frenzy

Sep 16, 08 3:25 AM CDT
(Newser) - Asia's markets took a huge hit today amid fears of a US financial meltdown, the Wall Street Journal reports. Markets in Hong Kong, Japan, and South Korea were spared from the global plunge yesterday due to a public holiday—but the respite proved to be short-lived. Japan and Hong Kong's... More »

MORE ABOUT:
currency • financial markets • Nikkei • Hang Seng • Asian markets • financial crisis

 Dollar Soars to 1-Year High 

Greenback climbs higher still after Fannie-Freddie bailout

Sep 8, 08 8:06 AM CDT
(Newser) - The dollar rallied to a 1-year high against the world's currencies today, following Treasury's decision to seize control of Fannie Mae and Freddie Mac. After an early hiccup, the greenback advanced to $1.41 against the euro while also climbing against the yen, the pound, and the Swiss franc. While... More »

MORE ABOUT:
currency • exchange rate • currency exchange • pound • euro • US dollar • bailout • financial crisis

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