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This is an indication of capital trying to flee the country via unofficial channels. Argentina's foreign reserves which have been used to prop up the economy are sure to start dwindling.

Argentina economy currency

Iceland appears to be increasingly open to adopting the Canadian dollar as its official currency, with Prime Minister Johanna Sigurdardottir warning over the weekend that the country's own extremely volatile currency system "can't remain unchanged."

"The choice is between surrendering the sovereignty of Iceland in monetary policy by unilaterally adopting the currency of another country, or become a member of the EU," Ms. Sigurdardottir said in a speech delivered at a Social Democrat Alliance party convention Saturday in Reykjavik.

iceland money currency canada Europe

Here's question that is often asked: "What if every foreigner in the world sold their dollars?"

Well, who would they sell them to?

economics currency current-account

Brazil has declared a fresh “currency war” on the US and Europe, extending a tax on foreign borrowings and threatening further capital controls in an effort to protect the country’s struggling manufacturers.

Guido Mantega, the finance minister who was the first to use the controversial term in 2010, said the government would not “sit by passively” as developed nations continue to pursue expansionary monetary policies at the expense of Brazil.

“When the real appreciates, it reduces our competitiveness. Exports are more expensive, imports are cheaper and it creates unfair competition for businesses in Brazil,” he said on Thursday after announcing changes to the so-called IOF tax.

currency brazil currency-war

Greece plans an orderly exit out of the Eurozone according to two sources close to Mr. Papademos, Greek Prime Minister, who spoke on condition of anonymity earlier today.

greece currency euro

Today I'd like to address the dollar swap lines extended by the Federal Reserve to the European Central Bank and other foreign central banks.

My criticism is that the lines are represented to Congress as secured lending, when in fact, for all practical purposes, the Fed is engaging in what is, functionally, unsecured lending to these foreign central banks.

fed ecb liquidity risk crisis currency

The yen is probably 25 percent overvalued and Japan’s days of trade and current account surpluses “look to be finished,” according to Jim O’Neill, the economist who coined the term BRIC a decade ago.

japan currency current-account

Standard & Poor's hat Recht. Ich rede nicht von der Rating-Benotung Frankreichs, sondern von ihrer Begründung. Europa leidet nicht an zu hohen Haushaltsdefiziten, sondern an den krassen Unterschieden in der Leistungsfähigkeit der einzelnen Staaten.

ratings austerity currency euro crisis germany

The key problem always was the internal imbalances, a problem for which European policymakers have never offered a credible solution.  They simply don't have such a solution in the context of a system of fixed exchange rates.  I believe that currency devaluation is the only option that will change relative competitiveness in any reasonable timeframe and restore internal balance. But that option is unavailable for Euro members. Bottom Line:  In Europe, the unstoppable force of austerity is colliding with the immovable object that is reality.  Expect fireworks.

euro europe currency crisis debt government

The Hungarian forint has dropped to a new record low against the euro as the country scaled back a debt sale and continued talks over a bailout.

hungary currency

The euro rebounded strongly off near ten-week lows in European trade Tuesday as a slew of key bond auctions passed by without a hitch, including almost €2 billion ($2.64 billion) of bonds issued by the European Financial Stability Facility.

currency government bonds europe

The Indian rupee has hit a new all-time low against the US dollar, after the release of weak economic data.

india currency

The yuan hit its lowest permitted level on the mainland Monday for the ninth consecutive session, as investors continue to expect slowing appreciation amid global economic uncertainty.

currency china

If Europe wants to have a robust economy, it needs to have robust public finances, and that can only happen when a system is put in place that ensures that sovereign debt is risk free. If banks have any reason to fear that they won't get paid 100-cents on the euro for their sovereign debt holdings, that's basically an impossible prospect.

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