currency exchange

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Japan, Help Us Wrestle the World's Problems
Japan, Help Us Wrestle
the World's Problems
ANALYSIS
Jan 31, 2009 7:20 PM CST

Japan, Help Us Wrestle the World's Problems

(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 now,...

Dollar's Long Rally Likely to Stall in 2009
Dollar's Long Rally Likely
to Stall in 2009
ANALYSIS
Dec 8, 2008 5:28 AM CST

Dollar's Long Rally Likely to Stall in 2009

Recession, low interest rates will catch up with buoyant greenback

(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...

As Investors Seek Cover, Central Banks Slash Rates

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

(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...

Fed Grabs Another $30B in Currency Swap

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

(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...

$1T US Bailout May Crush Dollar's Rally

Plan's huge pricetag undermines confidence in the buck

(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 Soars to 1-Year High
 Dollar Soars to 1-Year High 
Sep 8, 2008 8:06 AM CDT

Dollar Soars to 1-Year High

Greenback climbs higher still after Fannie-Freddie bailout

(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...

Loving Low Dollar, Europeans Come to Shop

Tourism is up 21% in April alone

(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...

How to Make Millions Off Misfortune
How to Make Millions Off Misfortune
column
Jun 20, 2008 9:15 AM CDT

How to Make Millions Off Misfortune

Put bubble markets to work for you, writes Joel Stein

(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."...

Dollar Hits 6-Week High Against Euro

US, Europe team up to boost gaining greenback

(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...

Wachovia Targeted in Drug Money Laundering Probe

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

(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...

G-7 Ministers Talk Tough on Sliding Dollar

Strong words signal desire to keep dollar from the abyss

(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...

Yen Pounds Dollar as Markets Fall
Yen Pounds Dollar as Markets Fall
Mar 3, 2008 5:42 AM CST

Yen Pounds Dollar as Markets Fall

Markets in worldwide retreat as dollar drops on subprime worries

(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...

New York Loves Euros
New York
Loves Euros
Feb 25, 2008 11:35 AM CST

New York Loves Euros

Awash in tourists, Big Apple shops welcome stronger currency

(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...

Dollar Gains Slightly Against the Euro

Investors wait for latest read on vigor of US economy

(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...

Zimbabwe's Inflation Rate Hits 100,000%

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

(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...

China Looks to Buy American
China Looks
to Buy American
Dec 10, 2007 7:27 PM CST

China Looks to Buy American

Seeks investments to adjust yuan growth; US official set for talks

(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...

Weak Dollar Draws Foreign Shoppers
Weak Dollar Draws Foreign Shoppers
Nov 30, 2007 9:46 AM CST

Weak Dollar Draws Foreign Shoppers

International travelers arrive with fat wallets, empty suitcases

(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...

Euro Slips on Interest Rate Speculation

Down from record high; fading German consumer confidence a factor

(Newser) - The euro dropped against the dollar on speculation that the European Central Bank might hold off on raising interest rates, AP reports. The euro hit a record $1.4966 Friday as investors worried about US stability. It was down to $1.4732 this morning in European trading. Germany is feeling...

Go Where the $ Is Still Good
Go Where the $ Is Still Good
Oct 6, 2007 6:23 AM CDT

Go Where the $ Is Still Good

Planning to travel? Head to a country where flashing a few dead presidents still means something

(Newser) - It hurts when even a dollar-friendly country like Canada is giving your green the cold shoulder. Get your money's worth in these countries from foXnoMad:
  1. Morocco
  2. Thailand
  3. Mexico

Loonie Catches Up to Dollar
Loonie Catches Up to Dollar
Sep 21, 2007 3:33 AM CDT

Loonie Catches Up to Dollar

First time Loonie equaled greenback since Nov. 1976

(Newser) - The Canadian dollar reached parity with its US counterpart for the first time in over 30 years yesterday. As recently as March 2002, $1 American bought $1.60 Canadian, but the struggling US economy and the recent interest rate cut have pulled the greenback down, while increased demand for Canadian...

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