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Tag Archives: U.S. dollar

Dollar as U.S. currency, now is problem of world

Washington, U.S. | Xinhua | The U.S. central bank raised the benchmark lending rate by 0.75 percentage point last week, the fourth increase of that size and the sixth hike this year, bringing its key rate into a range of 3.75 percent to 4 percent, the highest in 15 years. The …

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Strong U.S. dollar causes serious problems to low-, middle-income countries: Foreign Affairs

New York, U.S. | Xinhua | The U.S. dollar’s rise compounds excruciating problems of debt sustainability for scores of low- and middle-income countries, propelling them to diversify reserve currencies, reported Foreign Affairs in mid-October. The dollar “is everyone’s problem, to paraphrase an aphorism from John Connally, the former U.S. Treasury secretary,” …

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Iran says to gradually eliminate dollar in trade with Russia

Tehran, Iran | Xinhua | Iran’s chief banker said the U.S. dollar will be gradually eliminated from Iranian-Russian economic transactions, the official news agency IRNA reported on Thursday. The trade volume between Iran and Russia stood at 4 billion U.S. dollars, which can be conducted through the Iranian currency rial and …

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Euro falls below parity against U.S. dollar

Frankfurt, Germany | Xinhua | The Euro on Wednesday briefly slipped below parity against the U.S. dollar in intraday trading after data released by the U.S. Department of Labor showed that the Consumer Price Index (CPI) surged 9.1 percent from a year ago in June. The exchange rate on Wednesday plunged …

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Euro nearing five-year low stoking recession fears

The euro is within reach of five-year lows and seems increasingly will approach dollar-euro parity Rome, Italy | Xinhua | The euro has continued to weaken against the U.S. dollar, approaching its lowest level in five years, due mainly to the crisis in Ukraine and the sluggish economic growth in Europe. …

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