Word: guilders
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Dates: during 1970-1979
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...speech, and the plan, was far from encouraging. Corporate money managers, bankers and speculators, apparently believing that Stage II is too weak and will not work, sent the dollar plunging. The greenback fell to its lowest exchange rate since World War II against the yen, the deutsche mark, the guilder, the Belgian franc and the Danish and Norwegian crowns. The price of gold, which moves inversely to the dollar, reached a new peak of $233.70 an ounce. "We had not expected much," explained one Zurich foreign-exchange dealer about Carter's plan, "but neither had we expected so little...
...Carter said at his news conference that congressional passage at long last of his battered energy legislation should trim the U.S. trade deficit and bolster the dollar. Next day the dollar hit yet another record low against the deutsche mark, dropped against the Swiss and French francs, the Dutch guilder and the British pound, and even sank to a 31-month low against the weak Italian lira. The apparent reason: moneymen concluded that if this is all the hope Carter has to offer, the dollar is still in trouble. Confidence in the dollar has so eroded that it sometimes plunges...
...police continued to investigate the case for the nonpolitical offense that it evidently was. "We are not butchers with political motives," Caransa quoted one captor as saying. "We are criminals and we want a lot of money." They got plenty of that -44 Ibs. of crisp new 1,000-guilder notes, worth about $400 each. What continues to puzzle police is why the kidnapers would demand payment in a denomination of bills that is 1) hard to assemble in large quantities even at banks, and 2) easily traceable (the police have the serial numbers of all the bills). Thus, while...
...snake -an arrangement that bound France, West Germany, the Benelux countries, Sweden, Norway and Denmark to hold their currencies within a 4.5% range of fluctuation against each other. Fourcade proposed that the permitted variation be widened slightly, allowing the franc to drift gently down and the mark and Dutch guilder to bob up a bit. West Germany agreed, but The Netherlands balked, contending that Dutch exports and thus the nation's economy would be damaged. The French concluded that they had no alternative but to leave the snake and let the franc sink...
...American dollar has been declining irregularly on world money markets for the past five years, but never in the postwar period has its value against major European currencies sunk so low for so long. Since last September, the greenback has fallen roughly 13% against the Belgian franc, Dutch guilder and West German mark, and has lost 20% of its former worth in French and Swiss francs. Last week U.S. currency fell below the level of four francs to the dollar for the first time since 1973-and the consequences of its slump were making some disturbing waves...