Word: greenback
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Dates: during 1980-1989
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...figures, however, make the Japanese look considerably more openhanded than they actually are. Tokyo's growing generosity is largely a function of the yen's almost twofold appreciation against the greenback since 1985. According to the OECD, Tokyo's aid level in 1986 increased 48.4% in dollar terms but only 4.8% in Japanese currency. Moreover, Japanese development assistance has traditionally included a higher percentage of loans, as opposed to outright grants, than...
...expensive and American goods cheaper overseas. While economists have been calling for a weaker dollar for years, they are less certain about precisely how far the dollar should fall. The major industrial countries are reluctant to allow any additional dip in the dollar. The U.S. knows that a falling greenback could bring rising inflation and interest rates, while America's trading partners are worried about their export industries. Just before the trade report was released last week, finance ministers from the Group of Seven -- the U.S., Britain, West Germany, France, Japan, Canada and Italy -- reaffirmed their desire to stabilize currency...
...central bankers tried to back their words with action. When the dollar began tumbling in midweek, they quickly intervened in foreign exchange markets, buying up the U.S. currency. But the strategy only slowed the greenback's retreat, and if the trade picture keeps deteriorating, central bankers will find it increasingly difficult to prop up the dollar. Investor pressure to drive the currency down could prove overwhelming. Says Howard Wachtel, professor of economics at American University: "If the dollar really falls outside the band agreed to by the G-7 and direct intervention cannot restore it, then we risk a free...
Nonetheless, there was no denying that U.S. manufacturers faced some profound hardships, most notably the strong dollar. Between 1981 and 1985, the greenback's value climbed more than 50% when measured against the currencies of major trading partners. That made U.S. products prohibitively expensive for foreigners, while imports became dramatically cheaper for American consumers...
...welcome thrill for visitors carrying U.S currency: the greenback goes 27% further in Calgary. Despite the battering the dollar has taken virtually everywhere else, Canadians still refer to it as "real money." A few other measurements differ as well. Nostalgia buffs will be able to buy gasoline once more at Esso stations, but it is sold by the liter, not by the gallon. And then there are the speed limits, which are delineated in kilometers per hour. Calgarians, like most Canadians, are unusually law abiding by American standards. When it comes to speeders, the Mounties almost always get their...