Word: dollarization
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Dates: during 1980-1989
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CAPTION: Yen per dollar...
Quicker than you can say "currency speculation," the U.S. dollar has slumped to the lowest levels since last spring, completely wiping out the effects of a summer rally that had lifted the currency nearly 10% by late August, to a peak of 136 yen. Buoyed in part by a booming U.S. economy, the currency threatened to become strong enough to hinder progress in closing the trade...
...Election Day drew near, currency traders grew bearish on the dollar, sending it to the 125-yen range. They blamed a slowdown in the U.S. economy, the surge last month in the trade-deficit figures and a concern that the next U.S. President will be unable to tackle the budget deficit...
...have survived the war against the U.S.-backed contras are losing the battle for daily survival. Economic growth has been less than zero during the past two years. In January, with inflation running at nearly 1,500%, the cordoba was pegged at a rate of 10 for each U.S. dollar; today the rate is 1,600 to $1. In Managua outdoor markets are bordered by garbage mounds where malnourished scavengers pick through the debris in search of food. Stagnant waters have become a breeding ground for dengue fever. In rural areas a plague of rats threatens the country's sugarcane...
...from rancorous reporters and try, ever so discreetly, to manage the news. For a movie publicist, the methods and motives are the same; only the product is different. And by orchestrating the burgeoning infotainment press, a smart flack can detonate a bigger bang for the buck. Without spending a dollar on advertising (though millions will be lavished on print and TV ads), without cozying up to a single critic (though rave reviews are nice), he can secure a client's name in people's minds. "Publicity isn't a buckshot medium," says Robert Friedman, a senior vice president at Warner...