Word: greenbacker
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...companies, such as Sony and Toyota. Under former Finance Minister Shiokawa, the government spent in just the first 8 1/2 months of the year the unprecedented equivalent of $110 billion to buy dollars on the open market, in an attempt to keep the yen from climbing against a weakening greenback...
...crisis of 1997-98, China did not devalue the yuan?and hence make its exports cheaper?when other Asian nations did. Had Beijing followed the herd and taken export markets from its Asian competitors, the economic recovery in Asia would have been delayed. But as the value of the greenback has slipped on international markets, Chinese exports have become even cheaper. Hence the clamor from some of those who directly compete with China for the country to revalue the yuan upward?just as there was pressure on Japan to revalue...
...time if you want to carry on doing business." The Jakarta Stock Exchange plunged some 3% on the day of the bombing but soon rallied, closing the week at 505.36?slightly above Monday's preblast closing. And although Indonesia's currency, the rupiah, held its ground against the greenback, the blast has eroded business sentiment "just when things were turning around," says Thomas Lembong, a former official of the Indonesian Bank Restructuring Agency who is now a private investor. "Indonesia is especially adept at snatching defeat from the jaws of victory." If the failure of the police to prevent...
...Zwick The Dinar Soars As Saddam's regime fell, the Iraqi currency rallied: a dollar used to buy 3,000 dinars but now buys only about 600. But that's nothing compared to eBay, which has been gripped by Saddamania, driving dinars bearing his picture to parity with the greenback. Miss Piggy must be outraged In the words of the two grumpy Muppets that Thomas and Florian Haffa acquired - with the rest of the Jim Henson Company - while building Germany's EMTV empire, it must be "like a kind of torture to have to watch this show." Last week...
...Greenback is acting more like a hunchback these days, slumping ever lower last week as it pushed the euro to a fresh three-year high of $1.067. Nervous about an Iraq war and hedging their bets against the struggling U.S. stock market and economy, even normally bullish strategists at Citibank and ABN AMRO are losing faith, saying the dollar may fall to $1.09 against the euro in coming months. To Europeans that may sound great: after all, it makes American goods cheaper, and who couldn't use a shopping run to New York City? But the euro's super-power...