April 3, 2011 |
Dorothy Ouma began trading foreign currencies after seeing a TV commercial touting it as a way to make extra money, something she could use as a single mother raising three children. "The ads made me think, 'This is easy,'" said Ouma, 52, an administrator with the Grand Prairie, Texas, police department. Ouma used her credit card to fund an account with an online currency broker. Within a few weeks of swapping dollars for yen and euros, she said, her $3,000 of borrowed money was gone.
November 24, 2013 |
Back in the 1980s, when I lived in Nairobi, foreign residents had a simple way of obtaining Kenyan shillings. They'd write a check in, say, U.S. dollars on their U.S. bank accounts to the Indian man who owned the ice cream store down the block. He'd pay over shillings at the current black market rate. Then he'd mail the check to his brother in Toronto, who would deposit it in the merchant's name in a Canadian bank account. Presto! The expatriates got shillings to spend locally, and the shop owner spirited his profits out of the country for conversion to a hard currency, secure for his retirement.
February 17, 2012 |
Amateur collectors worked the crowd for limited editions, warning against giving away potentially valuable bills. One doomsaying politician called for a return to the discarded currency. And people of all ages waited patiently to turn in their forgotten, worn-out francs. A decade after being pushed aside by the euro, the franc on Friday officially became a relic. It was the last day to exchange old currency for euros, and the event attracted hundreds to the Bank of France in Paris, the only location in the capital able to convert the colorful bills.
May 17, 2013 |
Not that long ago, the virtual currency Bitcoin was one of the Internet's great rebel causes, a digital form of money embraced by libertarians and anti-establishment types who saw it as a way to diminish the power of big governments and big corporations. But Bitcoin's growing popularity and a recent surge in value has caught the eye of entrepreneurs and venture capitalists, including some who are convinced that Bitcoin could be the biggest thing on the Internet since, well, the Internet itself changed our lives two decades ago. Now, Silicon Valley is about to perform its classic ritual to signify that a new technology, product or idea is ready to be taken seriously: It's holding a conference.
October 22, 2012 |
President Obama and Mitt Romney both talked tough on trade relations with China during Monday's debate. But they sparred over how best to get China's currency more in line with the U.S. dollar. U.S. officials have complained for years that China was keeping its currency, the renminbi, too low relative to the dollar in order to make Chinese goods less expensive for U.S. consumers. Some in Congress have pushed the Treasury Department to formally declare China a currency manipulator, which would trigger negotiations with Beijing over the issue.
September 27, 1998
In response to the letter of Aug. 30 on Italian ATMs: Why would anyone carry $50 bills or any U.S. currency to Italy or any foreign country? We were in Europe this summer and found ATM machines readily available which dispensed currency of the country in short order, charging the transaction to our bank account. We always received the best rate of exchange. MARY AND EDWARD CATE San Diego