Word: franc
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Dates: during 1970-1979
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...international exchange markets. The Federal Reserve Board also poured some $2 billion into the foreign exchanges to buy dollars, and at week's end the slide was stemmed. Still, in the past month the dollar has lost roughly 5% of its value against the West German mark, Swiss franc, French franc and British pound...
...understand this very clearly if one looks to the Swiss franc. The Swiss franc is even a stronger currency than the deutsche mark, and the Swiss economy is even stronger than the German economy, but nobody would ever believe that for this reason Switzerland is a world power. Swiss defense is first-rate, but nobody would ever believe that for this reason Switzerland is a world power. To sum it all up: Germany is not a world power; it does not wish to become a world power...
...buying enthusiastically because the Continent has been hit by energy-induced inflation. During the first quarter, prices rose at an annual rate of 9% in Switzerland and 9.6% in West Germany, weakening their strong currencies. So far this year, gold has risen even more sharply against the Swiss franc and the German mark than against the dollar...
Raymond Barre made the rashest of vows when President Valery Giscard d'Estaing appointed him Premier of France in August 1976. He promised to cure the country's inflation-racked economy in three years. As that deadline approaches, the roly-poly former economics professor has become the target of increasingly heavy fire from trade unions, the leftist opposition and even the largest party in his own coalition, the Gaullists. Last week, at the insistence of Gaullist Leader Jacques Chirac, the French parliament was called into emergency session for the first time since World War II. Although Barre...
...trade deficit will diminish this year, but the dollar will remain weak against the mighty German mark and Swiss franc...