Word: dollarization
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Dates: during 1980-1989
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...emerge from an economic summit, Baker won support for his plan for bringing greater monetary stability to the free world economy. Since 1973, floating exchange rates have been set by the free market. One of the results has been wild fluctuations, including the rapid rise and fall of the dollar over the past two years and the current dramatic appreciation of the yen, which has some Japanese exporters crying for help. Rather than bring back fixed rates, Baker's plan would employ a system dubbed the "managed float." Under the accord, the seven nations will try to control rates...
...Furniture, was struggling to survive when he launched a madcap campaign in 1982. Although lacking in broadcast experience, McIngvale ad-libbed spots in which he blabbered as fast as he could for 55 seconds and then, in the last five seconds, leaped into the air holding a cluster of dollar bills while shouting, "Gallery Furniture really will Save! . . . You! . . . Money!" Since he first went airborne, McIngvale's sales have soared 1000%. Says he: "It saved the company...
Several forces have converged to generate the surge in domestic travel. The recent outbreaks of international terrorism have made many people uneasy about taking European vacations. In addition, the sharp decline in the value of the dollar, which has dropped 18% during the past year against an average of major currencies, makes journeys to other countries more expensive and less attractive to many Americans. At the same time, the dollar's dip makes U.S. tourist spots a bargain for foreigners. If all that were not enough, the falling price of gasoline (83 cents per gal. for regular unleaded...
Walking into a typically sleazy roadside bar, Billy struts up to the counter, asks for a Bud, downs it, and hands the bar maid $2.00. "That's for the beer," he says, flourishing a dollar bill," and that's for the beer...
...annual session closed, the dollar plunged to another post-World War II low against the yen, a disappointment to Japanese businessmen...