Word: dollarization
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Dates: during 1980-1989
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...NACODS will find it difficult to understand, why the strike has been called," complained Thatcher. The NACODS action, together with the $1.35-per-bbl. drop in North Sea oil prices, caused near panic in British financial markets; the pound sank to $1.18, its lowest point in history against the dollar, and the London stock market recorded its sharpest one-day fall ever...
...main danger on the inflation front is that the decline in interest rates could make U.S. investments less attractive to foreigners and send the lofty dollar into a sharp dive. A cheaper currency would make imports more expensive and thus fuel inflation. That in turn would make it more difficult for the Federal Reserve to keep lowering interest rates...
...dollar gyrated last week in jittery foreign exchange markets. At first it hit new peaks against the West German mark, Japanese yen and French franc, but as U.S. interest rates fell, the dollar began to drop. On Thursday and Friday it declined 2% against the mark and franc and 1% against...
...Canadian economy will also be pinched. Automobile production has been one of the economic bright spots in a country with 11¼% unemployment and a currency that has lost 13% of its U.S. dollar value since 1980. A strike that lasts 2½ months could cost Canada $1.5 billion and wipe out its current trade surplus...
...want the profit sharing or lump-sum payments that are part of the just approved U.S. agreement. In addition, he claims that Canadian labor costs are $7.50 an hour less than the $22.50 an hour that GM pays in the U.S., because of the shrunken value of the Canadian dollar and the fact that the Canadian government picks up most healthcare costs. As a result, White argues, GM can afford a richer settlement in Canada than...