currency – News Stories About currency - Page 8

Sep 20, 2007 4:20 PM CDT

Feds Give Abe's 5-Spot a Facelift

New currency includes pastels and redesigned watermarks to thwart couterfeiters

(Newser) - When you pull out a $5 bill next spring, you'll still see Honest Abe—but you'll also see a bunch of purple and gray, some big number fives, and new watermarks and security threads. Sick of pesky counterfeiters bleaching the fiver and turning it into a C-note, the feds unveiled...

Record Low: Euro hits $1.40

Sep 20, 2007 7:07 AM CDT

Record Low: Euro hits $1.40

Dollar breaks important threshold, but fall isn't over yet

(Newser) - The dollar dropped to a record low against the euro in early Asian trading on Thursday, breaking the $1.40 barrier for the first time since the establishment of the common currency. The Fed's half-point cut in interest rates led investors to drop the greenback, and chief Ben Bernanke's upcoming...

Credit Squeeze's One Winner: The Dollar

Aug 16, 2007 12:59 PM CDT

Credit Squeeze's One Winner: The Dollar

Worldwide scramble for greenbacks reverses currency's slide

(Newser) - After years of decline, the American dollar has reasserted itself in the face of the worldwide credit crunch. The dollar has rallied against the euro and the pound as banks and investors drop hazardous financial instruments and hold cash, Bloomberg reports, making the implication clear: For all its woes, the...

Pound Soars Against Dollar

Jul 4, 2007 1:24 PM CDT

Pound Soars Against Dollar

Sterling passes $2.02, raising hopes and filling coffers

(Newser) - The British pound climbed against the dollar today to a level not seen since June 1981, nudging past $2.02 before closing at $2.0136. The third consecutive trading session with a 26-year high came as the UK braced for a interest rate hike and the US braced for an...

New England Towns Mint Local Bucks

Jun 19, 2007 3:56 PM CDT

New England Towns Mint Local Bucks

But utopian experiment faces some hurdles: like paying the bills

(Newser) - A cluster of towns in Western Massachusetts has created its own currency—BerkShares. The banknotes, which trade for 90 cents on the dollar, feature local heroes like Norman Rockwell and are accepted as cash at 280 cafés, shops, and even the local "chakra balancing" joint.

Paulson Resists Labeling China
a 'Manipulator'

Jun 13, 2007 7:23 AM CDT

Paulson Resists Labeling China a 'Manipulator'

Congress stews as Beijing keeps yuan weak vs. dollar

(Newser) - Treasury Secretary Henry Paulson has denied congressional requests for a formal accusation of currency manipulation against China, the Wall Street Journal reports. China's tight restrictions have kept the yuan artificially low against the dollar for decades, but recent record highs, combined with signs that Beijing may plan to let up...

China Deals
on Finance,
Skips Currency

May 23, 2007 4:59 PM CDT

China Deals on Finance, Skips Currency

US-China talks bring good news for securities firms, but no yuan reform

(Newser) - Talks between American and Chinese economic officials thudded to a close today, offering mild changes to the financial sector in lieu of major currency reform. The deal hammered out by Treasury Secretary Hank Paulson and China's vice-premier Wu Yi promise foreign financial companies more access to Chinese markets and allows...

China Loosens Up on Yuan

May 18, 2007 10:40 AM CDT

China Loosens Up on Yuan

Currency move may be concession to US—or attempt to pop a stock market bubble

(Newser) - Just days before a meeting with US Treasury Secretary Henry Paulson, China is taking baby steps toward letting its currency trade more freely. The government also raised interest rates and the reserve on bank loans today, signaling concern over the country's red-hot economy. China's trade surplus—which some American politicos...

Dollar Gets Pounded

Apr 18, 2007 11:53 AM CDT

Dollar Gets Pounded

As the pound passes $2, Brits expected to flock to U.S.

(Newser) - The British pound hit a 26-year-high against the dollar this morning, triggering inflationary fears there as it pushed past $2 for the first time since Margaret Thatcher's early reign. As inflation figures spiked to 3.1% in March—the highest in 10 years—the middle class got hit the hardest,...