Though it may have had reason to act (see article), the currency controls announced on December 18th were ill-judged, triggering a stockmarket slump which forced it partly to reverse the measures.A 100-strong constitution-drafting body, chosen by the junta, was set up this week.
However, in all sectors surveyed, more companies were pessimistic than optimistic about the future suggesting that the recovery is still tentative.See article: Asia currency jitters (again)Manufacturing orders in Germany jumped by 5.1% in August compared with July, signalling the economy is entering a strong recovery.
I also spent hours reading financial articles on currencies and thinking of legal ways to bring capital back to Detroit in the form of dividends.
The Australian dollar fell close to an all-time low, dragged down by a weakened yen.See article: Asia's currency symptomsLack of hard cash from a meeting of the G7 finance ministers caused Russian shares to slump.
The G7 meeting in Prague on September 23rd is expected to discuss the euro.See article: Intervening in currency marketsThe Ifo institute, a German economic-research organisation, reported a surprising decline in its closely watched index of business sentiment.
This article focuses on currency (banknote) papers, one of the oldest forms of security papers, and how technological changes since 1960 have altered the course of the industry and determines the requirements of future security papers.
That article asserted that currency boards cannot cope with external shocks; that they are vulnerable to surges in inflation triggered by capital inflows; and that with limited lender-of-last-resort capacities, they cannot deal effectively with financial emergencies.
The Swiss National Bank this week announced that it would cap its value against the single currency (see article).
The article also misstated the currency name in a comment from Stephen J. Duthie of Whirlpool.
The greenback recovered somewhat after the Bank of Korea said its decision did not mean it would sell the American currency.See article.
