Word: greenback
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
What a beast! The pumped-up U.S. dollar has been kicking sand in the face of the yen and the mark. Last week the greenback climbed past 123 Japanese yen, a four-year high, and traded 1.65 against the German mark, a 2 1/2-year peak. Barely two years ago the U.S. currency traded at its postwar low. Europe and Japan love a strong dollar, since it lowers the price of their exports, which can stimulate more sales for their struggling economies. But cheaper Toyotas aren't good for everyone--for instance, General Motors and Chrysler reported weak sales last week...
Finance ministers for the Group of Seven industrialized nations (the U.S., Japan, Germany, France, Britain, Italy, Canada) met in Washington and rejected any specific action to boost the troubled dollar's exchange rate against other currencies. Still, the greenback rallied sharply against the yen, hitting 84.20 at week's end, its highest since April...
...statement, "Business art is a much better thing to be making than art," with the ardent, "Art is a religion, not a business." More stunningly, the Maestro does not sell his paintings, preferring the freedom to do what he wants when he wants to the lure of the greenback...
...DOLLAR The greenback does an uncanny impression of the peso...
...government officials are studying the consequences of the newly pervasive greenback and the concomitant rise in counterfeiting. The currency outflow produces one sweet side effect: the Treasury saves an estimated $15 billion a year since it pays nothing on the dollars held overseas that don't make their way into American interest-bearing accounts. At the same time, since the flow of funds abroad cannot be precisely quantified, it makes it almost impossible for the Fed to gauge the domestic money supply and thus know with certainty how to manipulate it. "Estimates of currency held abroad are subject to considerable...