Word: dollarization
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...very serious situation." Last month, as the nation's export-driven economy watched global demand slow down, Japan's Nikkei index fell to a 26-year low. Couple this with the appreciation of the yen - which some economists say could strengthen to an exchange rate of 80 to the dollar by the end of next year - and it's little wonder that corporate powerhouses like Toyota, Honda and Sony have seen profits dive. Royal Bank of Scotland Japan chief economist Junko Nishioka says that over the past two months, she has grown increasingly pessimistic. She sees Japan recording at least...
...much of the year, the Canadian dollar, known as the Loonie after the lake-bird pictured on the one-dollar coins, was trading at par with the U.S. dollar. That squeezes manufacturers and grounds exports, since a strong Loonie deprives Canada of a cost advantage it has enjoyed for years. The Canadian dollar has weakened recently, but now the financial problems threatening to push Detroit's auto industry over the brink have also gripped the Canadian subsidiaries of GM, Ford and Chrysler. See the 50 Worst Cars of All Time
...there's far more to oil's big price plunge. SemGroup, of course, was now out of business, and as similar behavior came to a halt at other firms, oil lost its upward momentum. Enter the financial crisis, which dealt the finishing blow. The dollar had weakened during the first revelations of the mortgage crisis, but as that situation spun out of control into an international credit crisis, the currency markets favored the U.S. dollar. Since oil is traded internationally, as the dollar gained value, the price of oil in dollars had to come down. A weakening dollar played...
...High School Musical 3.” (No pasty-faced moralizing psychopath stands a chance against golden-boy Zac Efron and his thousand-watt tan.) That’s five “Saw” movies in five years, each (after the first) debuting in the $30 million dollar range with the number one or number two slot at the box office...
...Second Life, users create an online persona, known as an avatar, which moves freely through the imagined world, making friends, socializing and buying property with the game's virtual currency, the Linden dollar (so named for the developers behind the game). At any given moment, 38,000 users are logged on to the site...