The rapid expansion came as exports have risen and tourists have flooded the country.
Category: Currency
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Russia Tries to Bolster Ruble as Inflation Adds to Economic Woes
The central bank in Moscow took steps to counter the currency’s slide, but the war and resulting sanctions have put intense pressure on the economy.
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The ruble’s fall is raising concerns inside Russia about rising inflation.
The Russian currency has lost about a quarter of its value against the dollar this year, a reflection of the country’s roiling economy.
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A Strong Peso Gives Mexicans Working Abroad Less Bang for Their Buck
The peso’s soaring value means the money that Mexicans in the United States send home doesn’t go as far as it used to.
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Europe Vowed to Make Russia Pay for the War. It’s Not That Easy.
Confiscating Russian state assets frozen by the United States and Europe could breach international law and set a dangerous precedent, experts say.
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Pan Gongsheng Named Head of Chinese Central Bank
Pan Gongsheng, who was named governor of the People’s Bank of China after overseeing $3 trillion in reserves, stopped a currency plunge in 2016.
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What Benjamin Franklin Learned While Fighting Counterfeiters
Long before there were Benjamins in circulation, the founding father was all about experimenting with printing techniques as he worked on securing colonial printed currency.
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Turkey’s Lira Falls to New Low as a New Economic Policy Forms
The lira plunged 7 percent against the U.S. dollar, as a newly appointed finance minister promising “rational” economic policy takes charge.
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India Will Scrap 2,000 Rupee Notes, Echoing 2016 Demonetization
The move to retire 2,000-rupee notes, worth $24, has triggered bad memories of a similar campaign in 2016. It has also left some businesses short of change.
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The Coin, the Constitution, Premium Bonds: The Debt Limit Workarounds
As Congress hurtles toward a debt limit showdown, ways to work around it are garnering attention.
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Has Bitcoin Benefited From the Banking Crisis? Not in the Way Its Fans Hoped.
Bitcoin’s price has soared since banks failed this month, but there’s little evidence that the surge is being driven by investors treating the virtual currency as a financial alternative.
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Rules to Curb Illicit Dollar Flows Create Hardships for Iraqis
The regulations were meant to prevent dollar transfers to those targeted by U.S. sanctions on Iran, Syria and Russia. But they have ended up harming ordinary Iraqis who need U.S. currency for business or travel.