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Keyword: currency

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  • Turkey’s Currency Meltdown

    05/24/2018 12:14:14 PM PDT · by BeauBo · 65 replies
    Wall Street Journal ^ | 23 May 2018 | WSJ Editorial Board
    Turkey’s lira fell as much as 5% on Wednesday (23 May '18), and it’s lost more than a fifth of its value this year... On Wednesday the (Turkish Central) bank lifted a key lending rate to 16.5% from 13.5%... Mr. Erdogan has wanted to keep interest rates low before the June 24 parliamentary and presidential elections when he hopes to consolidate even more power.
  • Iran Faces Economic Challenges as Its Currency Plunges

    05/04/2018 12:39:21 PM PDT · by detective · 18 replies
    Algemeiner ^ | May 4, 2018 | Doron Itzchakov
    The sharp decline in the value of the Iranian currency is causing upheaval in the Iranian economy, and challenging the government and the banking sector. The local currency’s plunge to a rate of 6,000 tomans to the dollar, despite the high level of oil and gas revenues, reflects a lack of trust between the citizens and the banking system. A consideration of Iran’s economic policy sheds light on the limitations of the “dual economy” practiced by the Islamic Republic since its inception. At a time when Iran’s moves in the geopolitical sphere are getting the lion’s share of public attention,...
  • RBI may not give a damn to US branding India currency manipulator

    04/16/2018 6:45:23 AM PDT · by ptsal · 2 replies
    The Economic Times ^ | 18-Apr-2018 | staff
    [Appears to be sourced from Bloomberg]See article.
  • Gold is taking back its crown from bitcoin as best defensive play, strategist says

    04/12/2018 9:05:31 AM PDT · by NRx · 9 replies
    CNBC ^ | 04-12-2018 | Keris Lahiff
    Gold is surging to two-year highs. But does the rally have legs? Gold is surging to two-year highs. But does the rally have legs? 19 Hours Ago | 02:30 Gold soared to two-year highs this week as uncertainty rattled the market. The bull run isn't over yet, says one strategist. "I am a buyer. I really do like it," Boris Schlossberg, managing director of FX strategy at BK Asset Management, told CNBC's "Trading Nation" on Wednesday. It's "retaking its mantle as the key defensive asset against bitcoin, which has certainly suffered a lot over the last couple of months." As...
  • Venezuelans recycle worthless bolivar bills into crafts

    02/26/2018 5:08:09 AM PST · by C19fan · 5 replies
    AP ^ | February 25, 2018 | Luz Derby DePablos
    A family of Venezuelan immigrants to Colombia are repurposing their worthless bolivars into origami-made paper wallets, belts and even purses as the currency plunges further in value amid four-digit inflation. Each collector item produced by Richard Segovia fetches between $10 and $15 — a huge markup from the pennies that bolivars retrieve on Venezuela's black market.
  • How China and Hong Kong’s Currencies Were Shaped by Spanish, Mexican Silver Dollars

    02/25/2018 6:36:08 PM PST · by nickcarraway · 7 replies
    South China Morning Post ^ | Wednesday, 07 February, 2018 | Stuart Heaver
    Many modern East Asian currencies have roots in Ming dynasty trade and Chinese traders’ faith in the Mexican silver dollar. Attempts to dislodge it, such as the Hong Kong-minted silver British dollar, were not always successfulAt the antiques market near the old Qingjing mosque in central Quanzhou, a city in China’s south-eastern Fujian province, it is sometimes possible to purchase unusual silver objects that reveal much about the currencies in circulation in East Asia today. On one stall, crammed with opium pipes, blue-and-white ceramics and jade trinkets, is a small, dome-shaped lump of metal in a rusty tin box. It...
  • Shekel, Euro, pound down - dollar up

    02/05/2018 2:12:29 PM PST · by Eleutheria5 · 2 replies
    Arutz Sheva ^ | 5/2/18
    The official value of the shekel slipped an average of .023 percent on Monday in mixed trading against the featured currencies on the Bank of Israel's foreign-exchange list. The United States dollar was fixed at NIS 3.442, up .35 percent from Friday, while the Euro declined .056 percent to 4.2819 shekels, and the pound sterling was set at 4.8348 shekels, down .932 percent ...
  • Stunning: Bitcoin Price Plummets In Just 24 Hours

    12/22/2017 10:14:33 AM PST · by BenLurkin · 221 replies
    cbs2la ^ | 12/22/2017 | Michael Shane, cnn
    Bitcoin prices plunged sharply to below $11,000 on Friday, shedding a third of its value in just 24 hours, according to data from It later rebounded slightly to around $12,000 — but that’s still a stunning 25 percent less valuable than bitcoin was Thursday morning. Prices had approached $20,000 as recently as Sunday. The turbulence comes on the back of a few days of bad news for bitcoin, which has still soared by more than 1,000 percent since the start of the year. On Thursday, a bitcoin spinoff called bitcoin cash was suspended from one of the most popular...
  • Coinbase says buying and selling is temporarily disabled amid price rout (edited)

    12/22/2017 10:52:13 AM PST · by RightGeek · 46 replies
    CNBC ^ | 12/22/2017 | Evelyn Cheng
    Full title: Coinbase, one of the biggest bitcoin marketplaces, says buying and selling is temporarily disabled amid price rout Coinbase, one of the biggest bitcoin marketplaces in the U.S., said Friday that trading was temporarily disabled amid a price rout in cryptocurrencies. "Investigating - All buys and sells have been temporarily disabled. We are working on a fix and apologize for any inconvenience," Coinbase said on its status website at 11:11 a.m., ET. The company added in a subsequent statement that "due to today's high traffic, buys and sells may be temporarily offline. We're working on restoring full availability as...
  • Bitcoin, Ethereum and other major cryptocurrencies slip while Ripple briefly surges to third place

    12/22/2017 2:10:34 AM PST · by cba123 · 11 replies
    CNBC ^ | 12/22/2017 | Ryan Browne
    Ripple briefly retook its place as the third-largest cryptocurrency, with a market value of $47 billion, a milestone it reached earlier this month.
  • Goldman Sachs launching trading desk for bitcoin, report says

    12/21/2017 4:15:57 PM PST · by x1stcav · 21 replies
    CNBC ^ | 12/21/17 | Evelyn Cheng
    Goldman Sachs is planning to get into the business of trading digital currencies such as bitcoin, Bloomberg News reported Thursday, citing sources familiar with the matter. "In response to client interest in digital currencies, we are exploring how best to serve them," a Goldman spokesperson said in a statement to CNBC about the report. The new trading desk would "make markets" in the cryptocurrencies and is set to get up and running by the end of June, if not earlier, two of the sources said in the report. The bank is still trying to work out security issues on how...
  • Half of Germans Want to Scrap Euro, Bring Back Deutsche Mark

    12/19/2017 7:32:02 AM PST · by GonzoII · 27 replies
    Breitbart ^ | 18 Dec 2017 | Liam Deacon
    Almost half of Germans what to see the Deutsche Mark restored, with just 41 per cent saying they want to keep the euro. The YouGov-Institute survey, commissioned by the newspaper Bild, found that 49 per cent of Germans want their nation to have its own, independent currency again. Meanwhile, 41 per cent of those questioned wanted to stay with the euro, the single currency of the European Union (EU). Nearly 77 per cent of the 1,068 Germans quizzed thought they had not profited from the adoption of the euro currency. A decisive 60 per cent said they would vote against having...
  • The Two Driving Factors Behind the Cryptocurrency Hiring Spree

    09/27/2017 10:17:19 PM PDT · by 2ndDivisionVet · 2 replies
    The Merkle ^ | September 27, 2017 | J.P. Buntinx
    Landing a job in the world of cryptocurrency has become a lot easier over the past few months. Given the surge in the popularity of Bitcoin and most tokens, that is not necessarily surprising. As it turns out, there are two main reasons as to why the number of job openings in this industry has increased exponentially. Whether or not these trends will remain in place a year from now remains to be seen, though. 1. Initial Coin Offerings Although most people have no love lost for the ICO industry, no one can deny a lot of jobs are created...
  • President Trump Understands The Economic Power Of The United States Now Lies In Its Military Might

    09/25/2017 8:14:25 AM PDT · by davikkm · 6 replies
    IWB ^ | Ruby Henley
    As President Trump is in deep contemplation on the North Korean dilemma, he understands that the military might of the United States is now also its currency. Nations around the world are being led by China and Russia to remove the US dollar as the primary world reserve currency. This is a gang-up against the United States to destroy its long-held standing as the number one world economic power. But how does this current economic battle to circumvent the US dollar affect President Trump’s decision to show North Korea the military might of the United States? If the United States...
  • Putin Declares War Against The US Dollar

    09/01/2017 12:14:27 PM PDT · by Lorianne · 43 replies
    Tsarizm ^ | 01 September 2017 | L Todd Wood
    Today Russian President Vladimir Putin declared war against the hegemony of the U.S. Dollar. Of course, he couched the declaration in a statement saying Russia would work to counter the ‘excessive domination’ of certain reserver currencies. The comments were published in an article in the runup to the BRICs summit scheduled to begin Sept 3 in China. “We are ready to work together with our partners to promote international financial regulation reforms and to overcome the excessive domination of the limited number of reserve currencies. We will also work towards a more balanced distribution of quotas and voting shares within...
  • Mnuchin won’t say if he wants Tubman on $20 bill

    08/31/2017 2:48:07 PM PDT · by Oldeconomybuyer · 47 replies
    San Jose Mercury-News ^ | August 31, 2017 | By MARTIN CRUTSINGER, ASSOCIATED PRESS
    WASHINGTON — Treasury Secretary Steven Mnuchin is raising speculation that Harriet Tubman’s future on the $20 bill could be in jeopardy. In a CNBC interview, Mnuchin on Thursday avoided a direct answer when asked whether he supported the decision made by the Obama administration to replace Andrew Jackson on the $20 bill with Tubman, the 19th century African-American abolitionist who was a leader in the Underground Railroad. “People have been on the bills for a long period of time,” he said. “This is something we’ll consider. Right now, we have a lot more important issues to focus on.”
  • Harriet Tubman may not be on $20 bill after all

    08/31/2017 12:12:04 PM PDT · by Trump20162020 · 74 replies
    ABC News ^ | August 31, 2017 | The Associated Press
    WASHINGTON -- Treasury Secretary Steven Mnuchin is raising speculation that Harriet Tubman's future on the $20 bill could be in jeopardy. Mnuchin is avoiding a direct answer when asked whether he supports the decision made by the Obama administration to replace Andrew Jackson on the $20 bill with Harriet Tubman, the 19th century African-American abolitionist famous for the Underground Railroad. During last year's campaign, Donald Trump praised Jackson, the nation's seventh president, for his "history of tremendous success" and said the decision to replace him with Tubman was "pure political correctness."
  • Mnuchin’s Pre-Fort Knox Quip: ‘I Assume the Gold Is Still There’

    08/21/2017 12:46:10 PM PDT · by ARGLOCKGUY · 19 replies
    U.S. Treasury Secretary Steven Mnuchin will check out the nation’s gold stash when he pays a rare official visit to Fort Knox on Monday -- while keeping an open mind for future film projects. “I assume the gold is still there,” the former Hollywood producer joked to an audience in Louisville, Kentucky, 40 miles (64 km) north of the U.S. Bullion Depository. “It would really be quite a movie if we walked in and there was no gold.” Fort Knox has been seared into the public imagination since the 1964 James Bond movie “Goldfinger,” in which the British spy, played...
  • Bitcoin Skyrocketing Over $3600

    08/11/2017 6:49:09 PM PDT · by Enlightened1 · 30 replies
    Google ^ | 08/11/17
    All the war talk is turning out to be great for bitcoin. It's been on fire since January, 2017 when it for the first time reached $1,000 U.S. Dollars. It's now worth 3 times the price of gold. I bet it will be up to $5,000 in early September and over $7,000 by the end of October. We will see how it plays out.
  • Russia to reduce reliance on US dollar & payment systems in response to sanctions

    08/07/2017 7:31:51 AM PDT · by Navy Patriot · 24 replies
    RT ^ | August 7, 2017
    The Russian government will intensify efforts to cut the country’s dependence on US payment systems and the dollar as a settling currency, said Deputy Foreign Minister Sergey Ryabkov on Monday, as quoted by RIA Novosti. ... US President Donald Trump approved the law imposing new restrictions on the Russian banking and energy sectors.... The new law will punish individuals for investing more than $5 million a year or $1 million at a time in Russian energy export pipeline projects or providing such enterprises with services, technology or information support.