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SATURDAY, NOVEMBER 21, 2009
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NEWS ABOUT: currency exchange

currency exchange stories: 27 news summaries

1 - 20 of 27 Stories | 1 2 Next >>

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ANALYSIS

Count the US Dollar Down, But Not Out

Fears of a looming currency crash are overblown

Oct 23, 09 4:25 PM CDT
(Newser) - With the US economy in a prolonged slump and the Fed likely to keep interest rates low for the foreseeable future, many worry that a dollar crash will be the next shoe to drop. Currency pessimists can point to a 6-month decline in the dollar; this week the currency hit... More »

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globalization • currency exchange • yuan • Lehman Brothers • euro • US dollar • weak dollar • financial crisis

California Says Bank
Fleeced Pension Funds

State seeks $200M from State Street Bank of Boston

Oct 20, 09 5:11 PM CDT
(Newser) - California sued a Boston bank today and accused it of ripping off $56.6 million from two state pension funds. It wants all that money back, plus another $150 million in penalties. Attorney General Jerry Brown accused State Street Bank of "unconscionable fraud" and called it "just the... More »

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California • pensions • currency exchange • pension plan

 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 »

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currency • exchange rate • currency exchange • euro • US dollar • weak dollar

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 »

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currency • currency exchange • Craigslist • futurists • complimentary currencies

Russia Loses Half of Its Billionaires

Market woes, weak ruble have chipped away at fortunes

Feb 16, 09 10:00 AM CST
(Newser) - The 10 wealthiest Russians have lost two-thirds of their fortunes in the past year, AP reports, based on the magazine Finans' annual list of billionaires. The ranks of billionaires have been cut in half, from 101 to just 49. Last year's richest Russian, Oleg Deripaska, has fallen to eighth on... More »

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Russia • currency exchange • billionaire • wealthy men • metal prices • oil prices

ANALYSIS

Japan, Help Us Wrestle
the World's Problems


Jan 31, 09 7:20 PM CST
(Newser) - Japan's economic collapse in the 1990s and its decades of US dependence have left the nation rather timid, Christian Caryl writes in Newsweek. But its strong economy, bold environmental moves, and likely change of government this year will leave it poised to help the world. “The only trick... More »

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environment • Japan • currency exchange • Asian markets • bond market • humanitarian aid • economic downturn

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 »

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currency • exchange rate • currency exchange • euro • US dollar • US currency • financial crisis

As Investors Seek Cover, Central Banks Slash Rates

Seeking to loosen credit, central banks plan another round of cuts

Oct 28, 08 10:30 AM CDT
(Newser) - Central banks worldwide are slashing interest rates, attempting to stem the bleeding in financial markets as investors dump holdings, credit remains tight, and currencies spasm in value, the Washington Post reports. The Federal Reserve is set to cut rates for the second time in as many weeks tomorrow, while the... More »

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currency exchange • financial markets • yen • credit crisis • economic stimulus package • interest rate cut • financial crisis • financial meltdown

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 »

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

$1T US Bailout May Crush
Dollar's Rally

Plan's huge pricetag undermines
confidence in the buck

Sep 22, 08 6:18 AM CDT
(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... More »

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

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

Loving Low Dollar,
Europeans Come to Shop

Tourism is up 21% in April alone

Jul 26, 08 9:04 PM CDT
(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... More »

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

column

How to Make Millions Off Misfortune

Put bubble markets
to work for you,
writes Joel Stein

Jun 20, 08 9:15 AM CDT
(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."... More »

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

Dollar Hits 6-Week High Against Euro

US, Europe team up
to boost gaining greenback

May 8, 08 6:12 AM CDT
(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... More »

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

Wachovia Targeted in Drug Money Laundering Probe

Feds look into bank's conection with suspect casas de cambio

Apr 26, 08 7:20 AM CDT
(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... More »

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

G-7 Ministers Talk Tough
on Sliding Dollar

Strong words signal desire to keep dollar from the abyss

Apr 12, 08 7:26 AM CDT
(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... More »

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

Yen Pounds Dollar as Markets Fall

Markets in worldwide retreat as dollar drops on subprime worries

Mar 3, 08 5:42 AM CST
(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... More »

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

New York
Loves Euros

Awash in tourists,
Big Apple
shops welcome
stronger currency

Feb 25, 08 11:35 AM CST
(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... More »

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

Dollar Gains Slightly Against the Euro

Investors wait for latest read on vigor of
US economy

Feb 25, 08 5:34 AM CST
(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... More »

MORE ABOUT:
currency exchange • housing • US economy • pound • euro • US dollar

Zimbabwe's Inflation Rate Hits 100,000%

And that's just the official figure: in reality it's even worse

Feb 21, 08 12:53 PM CST
(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... More »

MORE ABOUT:
Africa • inflation • Zimbabwe • Robert Mugabe • corruption • currency exchange

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