Word: dollarization
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...September 1983, the Chinese attempted their boldest gambit: either an agreement would be reached by September 1984, they insisted, or they would unilaterally announce their own plans for the community. Almost immediately, the Hong Kong dollar plunged. That crisis may, ironically, have rescued the talks. As one Chinese businessman points out: "In a month when the U.S. dollar rose from six Hong Kong dollars to 7.75, the Bank of China was the biggest loser...
Another issue of concern at last week's IMF-World Bank meeting was the continued rise in value of the U.S. dollar. The West German Bundesbank again intervened in world money markets to halt the volatile increase of the dollar against the mark; following the West German action the dollar declined slightly. - By John S. DeMott...
...stimulated growth around the globe. Indeed, the American surge has been so strong that some economists fear it might eventually force the Federal Reserve to push up interest rates to keep growth under control. The clearest sign of U.S. economic might has been the continuing strength of the American dollar abroad. Last week it hit alltime highs against the British pound and the French franc and climbed to an 11½-year peak against the West German mark. The British pound was worth more than $2.30 in 1980 and about $1.50 a year ago, but now fetches barely $1.25. Late...
Some experts suspect that the runaway dollar may be partly a political phenomenon. Foreigners watch ing this year's presidential campaign for clues about the future investment climate in the U.S. like what they see in the public opinion polls. Says Stephen Marris, a former economist for the Organization for Economic Cooperation and Development: "In the last two or three weeks, the growing feeling is that it's going to be a landslide for Reagan. That basically means more people want to put money into America...
Whatever is causing the dollar's climb, both the U.S. rebound and the strong currency have been a tonic to many countries. Reason: the thriving economy whets the American appetite for imports, while the strong dollar slashes the price of foreign exports to the U.S. This has been particularly important to the indebted developing countries. Brazilian exports to the U.S. have climbed 44% over the past two years, to an estimated $6.9 billion for 1984, while Mexico's are up 15%, to $18 billion. Boasts Treasury Secretary Donald Regan: "What is good...