Word: dollarization
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...dollar has become the world's strongest currency because record federal budget deficits have combined with the Federal Reserve Board's tight money policies to drive up U.S. interest rates. The high rates have then served as a magnet for funds from investors ranging from Japanese manufacturers to Arab oil sheiks. This vast influx of foreign cash, which totals $40 billion so far this year, creates a growing demand for U.S. currency and pushes up its value. Last week U.S. interest rates seemed to be heading higher. The Government reported that July unemployment had tumbled to an annual...
...dollar has drawn added strength from foreign investors seeking a refuge from the uncertainties of their own countries. One leading U.S. banker estimates that wealthy Asians, Africans and Latin Americans have put at least $100 billion into American stocks, bonds, real estate and other investments since...
...trade deficit is like suicide," says Otto Eckstein, chairman of Data Resources, a Massachusetts-based economic forecasting firm. "It will mean more plant closings and more unemployment." Data Resources estimates that more than 1 million worker layoffs in the past two years were caused by the strength of the dollar...
...muscular dollars also have advantages. American tourists have been enjoying foreign vacations this summer at highly attractive prices because of the purchasing power of their dollars. A night in a moderately priced London hotel currently costs about $67, compared with nearly $90 three years ago. Many travelers are so confident the dollar will continue rising that they have been waiting until they reach their destinations to exchange money...
...home, meanwhile, Americans have been saving on imported goods ranging from French wines to Japanese videotape recorders. A top-of-the-line German camera that cost $1,159 last year now sells for about $950. Experts estimate that the strong dollar has cut some $700 from the sticker price of a new Toyota Corolla. Robert Ortner, chief economist for the Commerce Department, says that the dollar's strength "makes the vast majority of consumers very happy. But they don't have a spokesman...