From presidential tweets to corporate earnings reports, the U.S. dollar has been getting a lot of mentions recently.
The U.S. dollar had a pretty hot year in 2018: The Wall Street Journal’s Dollar Index put it up 4.3 percent last year against a basket of 16 other currencies. But up in 2018 may mean down in 2019, as many currency analysts predicting a weakening for the dollar in year ahead. Click the audio […]
One U.S. dollar today is worth about 9.92 Chinese yuan. That’s down nearly 10 percent from where it was last spring. That drop has the attention of Treasury Secretary Steven Mnuchin, who said Wednesday he wants to make sure China is not doing “competitive devaluations.” That’s when a country seeks an advantage by making its […]
How U.S. interest rates cause trouble in Turkey, Argentina, and beyond
U.S. travelers to the U.K. and the eurozone face two currency hurdles: calculating pound and euro prices in dollars, and dealing with the higher cost of goods and services over there. How do they cope? With a little magical thinking. Click the audio player above to hear the full story.
Today Venezuela rolls out its new currency – the “sovereign bolivar.” It’s one of several steps the country is taking to curb runaway inflation, which is likely to top 1 million percent this year, according to the International Monetary Fund. What effect will this have on the South American nation’s economy? Click the audio player […]
Russian officials were in Turkey on Tuesday, talking with the government there about possible solutions for Turkey’s currency crisis. Both countries are also facing U.S. sanctions, so one idea they floated: Stick to their own national currencies for trade and avoid using the dollar at all. On top of that, Russian Foreign Minister Sergey Lavrov echoed […]
The economic crisis in Turkey deepened this morning, despite moves by central bank officials in Ankara to calm the flight from the currency. The Turkish lira has lost 39 percent of its value since the beginning of the month. And there’s a reason why the lira’s downfall makes investors nervous — analysts are looking to see […]
Turkey’s currency, the lira, is in free fall. It’s been declining for months and today it reached a record low, down by as much as 18 percent. Part of the reason is Turkey’s bad relations with the United States. The two countries have been at odds lately over the detention of an American pastor. And […]
Trump tweeted that he had authorized the doubling of steel and aluminum tariffs “with respect to Turkey.”