How strong is the U.S. dollar's position as a reserve currency?

Aug 15, 2018
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…
The dollar is an international currency — a common denomination for global business. 
Yasin Akgul/AFP/Getty Images

Why the Turkish lira’s downfall scares investors

Aug 13, 2018
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…
A woman poses for a photograph with Turkish Lira currency on Aug. 13, 2018 in Istanbul, Turkey.The lira hit another record low overnight forcing Turkey's Central Bank to act to curb the lira's collapse however the action was not enough to subdue investors fears over the countries financial crisis. 
Chris McGrath/Getty Images

As Turkey’s currency tumbles, contagion fears rise

Aug 10, 2018
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…
Turkish Lira currency is seen on November 21, 2017 in Istanbul, Turkey.
Chris McGrath/Getty Images

Turkey shaken by financial fears, Trump rattles it further

Aug 10, 2018
Trump tweeted that he had authorized the doubling of steel and aluminum tariffs “with respect to Turkey.”
A view of Turkish Lira.
iStock/Getty Images

Decline of China’s currency lessens bite of U.S. tariffs

Aug 2, 2018
The trade story of the day is actually more of a currency story. As you know, the Trump administration has proposed another round of tariffs on some $200 billion worth of Chinese products — ranging from tobacco to dog food to…

And now, a currency war?

Jul 20, 2018
President Donald Trump today accused Beijing of manipulating its currency. This is not a new charge. But what has occurred is an 8 percent fall in the Chinese currency against the dollar since the trade spat began in the spring.…
A man looks at information posted on a bank door showing how to distinguish real banknotes in Beijing on July 20, 2018. - China's yuan continued its steady decline on July 20, defying US President Donald Trump's warning over the dollar's rise and providing Beijing with a buffer against punitive trade tariffs imposed by Washington. 
WANG ZHAO/AFP/Getty Images
Dan Schulman, left, the CEO of PayPal, on stage with Marketplace Morning Report host David Brancaccio at the 2018 Aspen Ideas Festival.
Michael Lipkin/Marketplace

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Turkey raises interest rates to stem currency crisis

May 23, 2018
The Turkish lira has been on a wild slide recently. It dropped 5 percent against the dollar Wednesday, its biggest loss in nearly a decade, before the country’s Central Bank stepped in with an emergency meeting that reversed some of…

Venezuela turns to crypto currency, hoping to salvage battered economy

Feb 20, 2018
Venezuelan government will begin pre-selling a cryptocurrency today, called the "petro."

Investors ponder safe havens amid market volatility

Feb 7, 2018
The last few days have seen big swings in the global stock markets. During such volatile times, investors often shift their assets to what are called safe-haven currencies, traditionally the Japanese yen or Swiss franc. Why does that happen, and…