Currency

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.”

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. That helps Chinese exporters, because it effectively makes their products cheaper.   Click the audio […]

"We really need to step up as companies," CEO Dan Schulman says.