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October 6, 2008 12:50:21 PM CDT

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Stories related to: currency exchange

Stories

19 Stories

  • September 2008

    • Fed Grabs Another $30B in Currency Swap

      Reuters  |  Sep 24, 08 10:00 AM CDT

      Fed Grabs Another $30B in Currency Swap

      (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 banks, and $5 billion lines with Denmark and Norway, Reuters reports. More »

      Tags

      bailout  • Ben Bernanke  • US dollar  • currency  • liquidity  • currency exchange

    • $1T US Bailout May Crush Dollar's Rally

      Bloomberg  |  Sep 22, 08 6:18 AM CDT

      $1T US Bailout May Crush Dollar's Rally

      (Newser) - The US plan to spend up to $700 billion on suspect mortgage-related instruments and a possible additional $400 billion to insure money market mutual funds may stabilize financial markets—but it’s just as likely to send the dollar into a dive, eroding its 3-month rally, reports Bloomberg. “The dollar will get crushed,” predicted one expert. More »

      Tags

      bailout  • US dollar  • euro  • weak dollar  • currency exchange

    • Dollar Soars to 1-Year High

      Reuters  |  Sep 8, 08 8:06 AM CDT

      Dollar Soars to 1-Year High

      (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 the Fannie-Freddie bailout reassured investors, reports that Asian banks might buy out Lehman Brothers also helped to push up the dollar. More »

      Tags

      bailout  • US dollar  • euro  • currency  • currency exchange  • exchange rate  • pound

  • July 2008

    • Loving Low Dollar, Europeans Come to Shop

      MSNBC  |  Jul 26, 08 9:04 PM CDT

      Loving Low Dollar, Europeans Come to Shop

      (Newser) - The weak dollar is forcing Americans to shelve travel plans, but Europeans are flying over to score on stellar exchange rates. With the British pound worth $1.99 and the euro $1.58, tourists are coming to the US to shop: More than 15 million visited in the first 4 months of 2008, spending $11.6 billion in April alone—21% more than the same month last year. More »

      Tags

      tourism  • currency  • currency exchange  • tourists  • retail shopping  • foreign currency  • international currency

  • June 2008

    • How to Make Millions Off Misfortune

      Los Angeles Times  |  Jun 20, 08 9:15 AM CDT

      How to Make Millions Off Misfortune

      (Newser) - From tech stocks to real estate, the succession of bubble markets leads Joel Stein to ask himself: How can I exploit other people's bad investment decisions? The Los Angeles Times columnist teams up with a Princeton economist "to figure out where people will idiotically dump their money next." Right now green technology, currency, wine, and art offer a great chance to capitalize on the financial misjudgments of others. More »

      Tags

      money  • investment  • currency exchange  • housing bubble  • market bubble

  • May 2008

    • Dollar Hits 6-Week High Against Euro

      Financial Times (UK)  |  May 8, 08 6:12 AM CDT

      Dollar Hits 6-Week High Against Euro

      (Newser) - The dollar hit a six-week high against the euro yesterday, leading relieved policymakers on both sides of the Atlantic to hope that the worst is over, reports the Financial Times . Analysts still reckon that Washington will continue its policy of benign neglect: a soft dollar encourages exports and reduces the trade deficit. But one key reason US and European officials are teaming up to help the dollar: a weak American currency has reinforced spiking oil prices. More »

      Tags

      US dollar  • euro  • weak dollar  • currency exchange  • central bank

  • April 2008

    • Wachovia Targeted in Drug Money Laundering Probe

      Wall Street Journal  |  Apr 26, 08 7:20 AM CDT

      Wachovia Targeted in Drug Money Laundering Probe

      (Newser) - Federal prosecutors have targeted Wachovia in an investigation into the use of money-exchange houses along the Mexican border to transfer money from US sales to Latin American drug lords, the Wall Street Journal reports. The bank invested heavily in the casas de cambio despite warnings that such firms were often used by drug cartels for money laundering. More »

      Tags

      banking  • Wachovia  • drug cartel  • currency exchange  • money laundering  • bank regulation

    • G-7 Ministers Talk Tough on Sliding Dollar

      Wall Street Journal  |  Apr 12, 08 7:26 AM CDT

      G-7 Ministers Talk Tough on Sliding Dollar

      (Newser) - The Group of Seven's finance ministers are getting more aggressive about stopping the greenback's decline, the Wall Street Journal reports. In what counts as blunt words for the group, a statement yesterday expressed concern about the plummeting dollar's "possible implications for economic and financial stability." The change in tone since the group's last meeting a year ago is aimed at sending a signal to traders; the ministers stopped short of using G-7 money to buy up dollars to push the currency upward. More »

      Tags

      US dollar  • finance  • euro  • currency  • weak dollar  • currency exchange  • Group of Seven

  • March 2008

    • Yen Pounds Dollar as Markets Fall

      Reuters  |  Mar 3, 08 5:42 AM CST

      Yen Pounds Dollar as Markets Fall

      (Newser) - The dollar’s skid accelerated today, taking it to a three-year low against the Japanese yen, and pushing the free-falling greenback to a record bottom against the Swiss franc and other currencies amid worries that subprime woes will worsen, Reuters reports. Worldwide, stocks dove lower on broad concerns about the US economy. More »

      Tags

      subprime crisis  • stocks  • US dollar  • currency exchange  • Yen  • European stocks

  • February 2008

    • New York Loves Euros

      Washington Post  |  Feb 25, 08 11:35 AM CST

      New York Loves Euros

      (Newser) - Wander through the Big Apple these days and you’ll see signs like “Euros accepted!” and even “Euros Only.” The latter is a joke—dollars are accepted, as are British pounds—but many New York City merchants are more than willing to accept visitors' currency, the Washington Post reports. “I need euros,” said one street vendor. “The dollar’s going down.” More »

      Tags

      New York City  • US dollar  • tourism  • euro  • currency exchange  • exchange rate

    • Dollar Gains Slightly Against the Euro

      Associated Press  |  Feb 25, 08 5:34 AM CST

      Dollar Gains Slightly Against the Euro

      (Newser) - European markets saw the US dollar edge higher against the euro, yen and British pound today as traders looked for clues as to whether the US economy would avoid a recession, reports the Associated Press. Today’s report on January sales of existing homes will likely cast some light on whether the subprime virus will continue to drag the economy down. More »

      Tags

      US economy  • US dollar  • euro  • housing  • currency exchange  • pound

    • Zimbabwe's Inflation Rate Hits 100,000%

      Daily Telegraph (UK)  |  Feb 21, 08 12:53 PM CST

      Zimbabwe's Inflation Rate Hits 100,000%

      (Newser) - Zimbabwe's inflation rate is running at 100,000%, according to the government's statistics office—but that's not the worst news. Insane as that number may sound, it's probably an underestimation, writes the Telegraph . In Harare, where shelves are bare and money is being printed at breakneck speed, a single cigarette now costs Z$500,000. More »

      Tags

      Zimbabwe  • Robert Mugabe  • Africa  • inflation  • corruption  • currency exchange

  • December 2007

    • China Looks to Buy American

      Bloomberg  |  Dec 10, 07 7:27 PM CST

      China Looks to Buy American

      (Newser) - China, increasingly being called upon to more rapidly adjust the growth of the yuan against the dollar, is looking to expand its investment in US assets as a way to funnel its powerhouse currency out of the country, Bloomberg reports today. Treasury Secretary Henry Paulson visits Beijing Wednesday for a third round of strategic trade talks, and will push yuan appreciation as a consumer price control measure. More »

      Tags

      China  • credit crisis  • Henry Paulson  • inflation  • US dollar  • Beijing  • currency exchange  • US exports  • yuan  • trade surplus

  • November 2007

    • Weak Dollar Draws Foreign Shoppers

      Time  |  Nov 30, 07 9:46 AM CST

      Weak Dollar Draws Foreign Shoppers

      (Newser) - Foreigners are taking advantage of the weak US dollar to do their holiday shopping in the States, Time reports in a look at a double-edged trend. Even as American shoppers find the cost of imported goods soaring, international visitors are arriving in droves, and "they're mentioning the exchange rate more often," says one merchant. More »

      Tags

      US dollar  • consumer  • currency exchange  &bull