The US may not like it, but by devaluing the yuan the People’s Bank of China has done what longtime critics of China’s currency policy have long been clamouring for.
Articles on Currency
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Artists and satirists have long played around with currency. With fiscal uncertainty only on the up, artsy cash is becoming more and more prevalent.
The Greek government shut all banks in the country on June 29 after the European Central Bank capped emergency funding to the lenders. Cash withdrawals from ATMs are now limited to €60 a day (about US$67…
Alexander Hamilton’s story is our story. It would be a mistake to remove him from the $10 bill.
Zimbabwe dollars are being decommissioned at a rate of 35 quadrillion per US dollar, with eight alternative currencies to choose from.
China’s RMB has been deemed “no longer undervalued” by the International Monetary Fund. This is a milestone for the Chinese government, which is keen to bolster domestic consumption and make the RMB a…
So long as there is uncertainty about Greece’s place in the eurozone, turmoil in financial markets will continue.
The Australian dollar fell to US77.17¢ overnight on the back of strong US jobs data, hitting values not seen since the GFC in 2009. The currency recovered slightly over the course of Friday morning, tracking…
The Australian dollar is a curious currency. It is the fifth most traded in the world and it gyrates pretty wildly – having traded below 48 US cents and above 110 in the decade or so from mid 2001 to 2011…
Currency wars have been predicted for years. Outright monetary battles were last seen during the Great Depression of the 1930s, when governments competed to devalue their currencies to gain market advantage…
In one of the most remarkable days in the foreign exchange market for at least 20 years, the Swiss franc rose by an astonishing 30% against the euro in a mere five minutes. This is as a result of the announcement…
Suppose you’re in the supermarket shopping for groceries. While you’re strolling the aisle with your cart, a shadowy figure looms over your shoulder and changes the prices on the items you want to buy…
Recent months have seen a sharp jump in the value of the greenback, with more gains expected in the months ahead. After a period of prolonged weakness, the US currency once again is walking tall. Americans…
To navigate the timeline below, hover your mouse on the right (and on the left to move back). Further reading The float Australia had to have? Intervene or wait? The RBA faces a tricky path to a lower…
Virtual currency Bitcoin is not a subject that ever draws neutral reactions. Against those who see the radical possibilities of a frictionless payment system designed for the internet, there is a growing…
Authorities in New York have announced they are launching an investigation into the manipulation of the world’s biggest financial market – the US$5.3 trillion a day traded in currencies. New York regulators…
Reserve Bank Governor Glenn Stevens has again weighed in on the value of the Australian dollar, telling a group of economists the bank is open to the idea of intervening to bring its value down. With the…
The US debt crisis is over for now, but legislators have just kicked the can down the road. In this series on the US debt ceiling, academics from Australia, the UK and the US assess the lingering global…
This week it was revealed that the UK’s Financial Conduct Authority (FCA) is investigating allegations that London-based currency traders in large financial institutions were manipulating exchange rates…
Bitcoin enthusiasts and libertarians the world over are in a state of confusion about the slowness with which the outside world is catching on to their new way of exchanging money. But regulators and lawmakers…
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