Word: peso
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Dates: during 1970-1979
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Washington officials correctly point out that so far this year the 'trade weighted" value of the dollar has dropped only about 2% on average against 15 foreign currencies. Major reason: the greenback has been going up against the Canadian dollar and the Mexican peso, the currencies of two of the most important U.S. trading partners. Some economists also argue that the fall of the dollar should help to shrink the U.S. trade deficit by making U.S. exports cheaper and imports more expensive...
...these unauthorized human beings entering the United States in the coming years. Economic conditions in Mexico are so wretched that the United States looks like the promised land in comparison. The vast majority of Mexico's 63 million people earn less than $20 a month; devaluation of the peso has brought on 30 per cent inflation and "effectively halved the incomes of those fortunate enough to hold jobs," according to The El Paso Times. And there seems to be no prospect of a lessening of these pressure, as experts predict that Mexico's population will double within the next...
...first accomplishment was convincing the U.S. Senate?and Ohio's powerful Republican Mark Hanna?that the Panama route was superior to the Nicaraguan. His chief argument: Nicaragua was prey to volcanic eruptions. On the morning of a crucial Senate vote, Bunau-Varilla sent every Senator a Nicaraguan five-peso stamp picturing an erupting volcano that could have been Mount Momo-tombo, near the proposed canal line. The Senate switched to Panama on June 19, 1902. Soon afterward, Roosevelt and Secretary of State John Hay began to press Colombia to agree to a treaty. Their offer: $10 million in gold, plus...
...bourgeoisie. A group of American congressmen warned that Mexico was becoming a socialist country and that before long a new 'Red Cuba' would emerge south of the border. The general fear created by this situation caused the outflow of a considerable amount of capital, precipitating the devaluation of the peso last August from eight American cents to four. By this time nearly half of Mexico's labor force was out of work or underemployed, and inflation reached an annual rate of 25 per cent. In the three months left before his term was over, Echeverria tried to restore the economy...
...tourism and border transactions for 37% of its dollar income and on the U.S. to provide 90% of the visitors to such established resorts as Acapulco and Mazatlan as well as the new playgrounds at Cancun on the Caribbean and Ixtapa on the Pacific. The devalued and floating peso has reduced the price of a Mexican vacation by at least one-third, but the laggard tourist trade has not picked up as expected. For a decade before 1975, tourism had been rising at the rate of 14% a year until it reached $1.2 billion; in 1975 it fell...