Tag: currency

• Monday, January 3rd 2011 - 05:11 UTC

  Venezuelan currency devalued again

  

  Venezuelan government devalued its bolivar currency for the second time in 12 months on Thursday, abolishing the lowest exchange rate as the Opec member fights to revive its economy. Intended to spur local production in the largely import-dependent nation, the announcement followed a central bank estimate that the economy contracted 1.9 percent during 2010 - Venezuela's second straight year of recession.

• Friday, December 17th 2010 - 07:05 UTC

  Euro zone agrees (strict conditionality) bail out permanent mechanism

  

  European Union leaders have agreed to set up a permanent mechanism to bail out any member state whose debt problems threaten the 16-nation Euro zone.

• Wednesday, November 10th 2010 - 05:33 UTC

  Contrary to expectations China’s October trade surplus soars to 27.2 billion

  

  As world leaders prepare to debate international trade imbalances this week, China announced Wednesday that its trade surplus surged last month to a staggering 27.2 billion US dollars, a 61% increase over the 16.9 billion surplus in September.

• Thursday, November 4th 2010 - 19:54 UTC

  Germany blasts latest US Fed Reserve plan to pump more money

  

  German Economy Minister Rainer Brüederle from the liberal FDP blasted the United States monetary expansive policy which is geared to prop the declining US economy with strong liquidity injections.

• Thursday, November 4th 2010 - 19:31 UTC

  Emerging economies ready to counter the Federal Reserve latest liquidity injection

  

  Asia and Latinamerica emerging economies anticipated that they would be implementing new measures to limit the inflow of capitals following on the United States Federal Reserve announcement that it would pump more liquidity into the faltering US economy.

• Thursday, November 4th 2010 - 02:09 UTC

  Colombia takes measures to stem appreciation of the local currency

  

  Colombia’s government and central bank announced new measures to stem a rally in the peso after President Juan Manuel Santos expressed concern its appreciation is hurting exporters and job growth.

• Monday, October 18th 2010 - 21:49 UTC

  China insists that reforming the Yuan “will be a gradual process”

  

  A senior IMF official tried to dampen talk of a global currency war, while China said it will stick to a gradual reform of its currency.

• Thursday, October 14th 2010 - 05:46 UTC

  China admits “currency war” spectre but responsibility is shared by G20

  

  China is trying to avoid a currency war, but issues concerning any specific currency should not be treated as part of an agenda at G20 meetings, a Chinese G20 negotiator said.

• Monday, October 4th 2010 - 22:38 UTC

  World Bank sees “currency devaluations” tensions and “bubble” risks

  

  World Bank President Robert Zoellick said he sees tensions arising from currency devaluations as nations seek to boost their economies, though he doesn’t expect them to turn into “wars.”

• Wednesday, September 29th 2010 - 04:40 UTC

  IMF head sees “no major danger” of escalation of currency devaluations

  

  International Monetary Fund Managing Director Dominique Strauss-Kham sees no major danger of an escalation of currency devaluations as countries seek to boost economic growth.