…currency debt by Fitch and S&P (BB+ on its foreign currency debt). The local currency debt in Egypt is at the lowest of the investment-grade ratings, while on January 20,…

…weakened against the euro, China has stepped up its intervention in currency markets to keep its yuan inexpensive and exports growing. Factoring in higher oil prices too, the overall trade…

…No other country in the world has a currency that is effectively the world’s reserve currency. With any other currency, demand might fall if the world’s investors lose confidence and…

Serious Anxiety about the Dollar… In Europe Last night there were a few hours of near-panic in the currency markets as the result of a report that the EU was…

…(dealing with a sudden stop is never easy). If debt is denominated in foreign currency the situation could be dramatic (as in the Asian crisis in the 90s). But even…

…an open economy, there is another channel of transmission to the economy for monetary policy: the exchange rate. If a central bank can engineer a currency depreciation, an expansion in…

…somewhat currency-like. Primarily: they’re used in exchanges for real-world goods and services, and have fixed values relative to the unit of account — e.g. “the dollar” (think: “the inch”). They…

…a well-intentioned policy gone awry? Ashoka Mody in his new book , EuroTragedy: A Drama in Nine Acts, offers an account that shows that the joint currency was flawed from…

…economies in the sample. When they investigate the channels of transmission, they differentiate among an exchange rate channel, where the impact depends on whether or not a country pegs to…

…says, they wrote a plan for a new currency, one that was stable, dependable, trustworthy. The only catch was this currency would not be real. It would not be printed….