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.
Category: Currency
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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.
The New York Times – Business: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 New York Times – Business: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.
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Turkey’s Reeling Economy Is an Added Challenge for Erdogan
The New York Times – Business:The earthquake’s staggering reconstruction bill will join other economic woes as the country’s autocratic leader faces re-election.
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Celia Cruz Will Be First Afro-Latina to Appear on the U.S. Quarter
The New York Times – Business:Ms. Cruz, a Cuban American singer known as the Queen of Salsa, was described by the U.S. Mint as “one of the most popular Latin artists of the 20th century.”
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How Multicurrency Accounts Take the Bite Out of Spending Money Abroad
The New York Times – Travel:Travelers fed up with lousy exchange rates and punitive foreign transaction fees are signing up for apps that let them decide where the buck (or euro or pound) stops.
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Can A Trillion Dollar Coin Resolve the Debt Ceiling Crisis?
The New York Times – Business:The latest standoff over raising the nation’s debt ceiling is giving new life to an old theory about how to avoid a default.
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Why Japan’s Sudden Shift on Bond Purchases Dealt a Global Jolt
The New York Times – Business:The world has relied on ultralow interest rates in Japan. What will happen if they rise?