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A strong dollar is hurting exports, helping imports and expanding the trade deficit
The dollar's strong because the Federal Reserve's been raising interest rates.
Strong U.S. dollar presents problems for much of the world
Good for U.S. tourists and importers. Bad for exporters and fragile world economies.
The dollar's strong right now. That's a problem for American companies doing business abroad.
But it's great for Americans who want to buy imports.
What does a strong dollar mean for the U.S. and world economies?
A strong dollar means lower prices for goods from abroad. For countries that import commodities priced in dollars, however, it's bad news.
Here are some reasons why China's currency is sinking
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 […]
Venezuela launches new currency, but problems remain
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 […]
How strong is the U.S. dollar's position as a reserve currency?
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 […]
And now, a currency war?
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 […]
Turkey raises interest rates to stem currency crisis
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 those losses. The bank finally did something it’d been resisting. Something its president had been […]
Inflation pressure evident at producer level
The producer price index for January rose 0.4 percent month-to-month, and 2.7 percent year-to-year. Core producer prices, excluding volatile food and energy prices, were up 2.2 percent year-to-year. Producer prices remained muted after the Great Recession as economic growth was sluggish, but upward price pressure appears to be building at both the wholesale and retail […]