Word: dollarization
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Dates: during 1980-1989
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...received orders for 3,000 batches, containing 200 checks each, for which they charge $14, or about twice what standard checks cost. For each batch of checks sold, Message!Check sends $1 to the group that supplied the slogan. Says Fenton: "Our goal is not just to make a dollar but to make a difference...
...other companies are rolling along in the opposite direction. Dollar Rent a Car announced last week that it will put 6,000 phone-equipped cars on the road by May. Dollar hopes to attract business with a new phone service called Pathfinder. When driving in unfamiliar places, customers will be able to dial a single digit and reach a Dollar operator, who will consult a battery of maps and give directions. Budget Rent a Car will soon equip a fleet of 1,500 autos with portable phones that can be operated outside the car and are small enough...
During the first half of the 1980s, the value of the U.S. dollar seemed to be going into orbit. While American consumers enjoyed cheap imports and luxuriated in foreign travel bargains, U.S. manufacturers complained bitterly that they were being clobbered by overseas competitors. But early last year the dollar bailed out, with a slight push from anxious international moneymen. At first the decline was a gentle drift, but it is now showing signs of becoming a free fall. Since December the dollar has dropped by 19% against the Japanese yen and 8% against the West German mark. It dipped last...
Much of the dollar's dive can be traced to a meeting held last September at Manhattan's Plaza Hotel by finance ministers and central bankers from the Group of Five, consisting of Britain, West Germany, France, Japan and the U.S. Deciding that the dollar was overpriced, the officials agreed that their countries would sell dollars on foreign-exchange markets in a coordinated effort to bring down their value. The plan worked, but it may have proved too successful...
Washington's top moneymen seemed to disagree last week about the best course for the dollar. Treasury Secretary James Baker told Congress that the Reagan Administration "would not be displeased" with further declines, provided that they were "orderly." But Federal Reserve Chairman Paul Volcker testified that the currency has already "fallen enough." Added Volcker: "I don't want to see a loss of confidence in the dollar...