currency
The Bank of England is displaying the new banknotes bearing the image of King Charles III that will enter circulation in the UK this summer. The £5, £10, £20 and £50 notes retain the same design as their predecessors, with the only change being the portraits on the front. The first coins embossed with Charles' image have been in circulation for several months. However, the banknotes have taken much longer to prepare for technical reasons, including making them readable to bank machines and automatic tills. According to a statement released by the Bank of England, banknotes that feature Queen E...
Euronews (English)
Washington (AFP) - From a trade imbalance to technological competition, a host of economic flashpoints are boosting tensions between Washington and Beijing -- and these are among areas in which both Republicans and Democrats can agree. What's behind these concerns? American debtRepublicans in particular are worried about this issue, concerned that China holds too much American debt. The fear is that Beijing could use this to pressure Washington by threatening to resell its bonds, bringing down the value of holdings. While the American debt exceeds $34 trillion, only around $8 trillion is held ...
AFP
The first sterling banknotes featuring Britain's King Charles III will go into circulation in June, the Bank of England has announced. "The portrait of the King will appear on existing designs of all four banknotes (£5, £10, £20 and £50), with no other changes to the existing designs," the bank has said in a statement. The only difference in the design will be the King's image replacing that of his mother Queen Elizabeth II. The initial batches will be sold at auction to raise money for charity. "Members of the public will also be able to exchange a limited value of current or old series notes...
Euronews (English)
Washington (AFP) - The status of the US dollar as the world's reserve currency is likely to continue, despite threats posed by China's rise and the growth of cryptocurrencies, a US Federal Reserve official said Thursday. The dollar continues to be the most widely used currency for international transactions, and is top among the notes held by foreign investors as a store of value, Fed Governor Christopher Waller told a conference in the Bahamas, according to prepared remarks. "By standard measures of an international currency's use, there has not been any notable erosion in the dollar's domina...
AFP
Thousands of minority Serbs in Kosovo on Monday protested a ban of the use of the Serbian currency in areas where they live, an issue that has been the cause of the latest crisis in relations between Serbia and Kosovo. Tensions escalated after the government of Kosovo, a former Serbian province, banned banks and other financial institutions in the Serb-populated areas from using the dinar in local transactions and imposed the euro. The dinar was widely used in ethnic Serbian-dominated areas, especially in Kosovo’s north, to pay pensions and salaries to staff in Serbian-run institutions, includ...
Euronews (English)
Central banks all over the world, including the Federal Reserve in the United States, have been considering the development and circulation of a central bank digital currency (CBDC). If you’re a cryptocurrency fan, you might be concerned about how this would affect the future of these coins. If you’re a crypto skeptic, you might be concerned that a centralized digital currency would have even more disadvantages than independent cryptocurrencies. And if you’re new to the world of crypto, you might have absolutely no idea what’s going on. Here’s what you need to know. The Premise of a Central Ba...
Due
Mexico City (AFP) - Rosario Crisostomo thought she had been cheated when she counted the money sent by her son from the United States. But there was no scam, only a Mexican currency going from strength to strength. Once a laggard of the international foreign exchange market, the peso is among the world's best performing currencies this year. A combination of high interest rates in Latin America's second-largest economy, financial stability as well as inflows of remittances and foreign investment have seen the Mexican currency post double-digit percentage gains against the dollar in 2023. "I th...
AFP
The Chinese American actress Anna May Wong is going to be honored by being featured on a new quarter going into circulation on October 24, the U.S. Mint announced. Wong’s career began in the silent film era, and she was synonymous with the “flapper” look for many years but also continued working in film and TV until her death in 1961 from a heart attack. Wong will be featured on the “tails” side of the quarter, with the reverse being a classic George Washington carving first designed in the early 20th century. The new design was made by Emily Danstra and carved by John P. McGraw. “She is remem...
uInterview.com
New York (AFP) - The dazzling rise of the US dollar, which has hit one record after another, is raising fears of a currency crash of a severity not seen since the 1997 Asian financial crisis reverberated around the world. The Federal Reserve's rapid, steep interest rate increases and the relative health of the US economy has caused investors to flood into the dollar, driving the greenback up and sending the British pound, Indian rupee, Egyptian pound and South Korean won and others to uncharted depths. "The moves are definitely getting extreme," said Brad Bechtel of Jefferies, warning that th...
AFP
Countries have lots of different ways of celebrating their national heroes. Some of them build great statues, others give them their own national holidays, and many a street has been named after those who left an indelible mark on their country’s collective consciousness. Alternatively, they can put their names and faces on something that everybody, everywhere, uses every day – money! Q2 2022 hedge fund letters, conferences and more The Different Types Of People Countries Put On Their MoneyWhat faces nations decide to put on their legal tender can be extremely revealing - and sometimes even a ...
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