January 26, 1989 |
The U.S. dollar fell against major currencies except the West German mark and Swiss franc in European trading today. Gold prices rose. There was a short-lived rally early in the day after news that U.S. durable goods buying surged 6.4% in December, when the expectation had been for a rise of 0.3%. But the dollar slipped again when details showed some of the gains were from large defense and transportation orders.
September 19, 1992 |
Some big U.S. banks and brokerages with significant foreign-exchange operations are likely to get an earnings boost as a result of the currency crisis that erupted in Europe this week, analysts said Friday. "The net impact will be positive," said Francis X. Suozzo, analyst at London-based S. G. Warburg. "Some banks will make a lot, a few may take a hit." Allison Deans, banking analyst at Smith Barney, Harris Upham & Co.
November 28, 1995 |
Squabble Over Timing Snags EU Currency Pact: Europe is less likely to have a common currency by the beginning of the next century because the Continent's finance ministers were unable to agree on timing and other technical points. Spanish Finance Minister Pedro Solbes said the daylong ministers meeting had endorsed "fundamental elements" of a plan mapping out a transition to a single currency.
September 17, 1992 |
The turmoil that has gripped financial markets in recent days has raised serious questions about the health of the global economy and the faltering U.S. recovery. Here are answers to some pressing questions Americans may have about the crisis. * Question: Will the chaos in Europe's financial markets mean a fresh blow to the world economy?
July 1, 1988 |
The dollar closed narrowly mixed Thursday in uneventful trading. Gold prices also were mixed. Republic National Bank of New York quoted gold at $435.10 an ounce as of 4 p.m. EDT, down 20 cents from late Wednesday. "The change (in the dollar) wasn't big enough to matter," said Jim Paul, director of futures research at the investment firm Dean Witter Reynolds Inc. in Chicago. "If it lost any ground, it probably was more a reaction to the sharp gains the dollar has had."
November 29, 1992 |
Millions of crisp kroons for Estonia and litas for Lithuania have rolled off the presses at a plant that makes paper money in Los Angeles. A Canadian company in Ottawa has printed 1.5 billion hyrvnias bound for Ukraine. Like their flags, a national currency is a distinctive symbol of sovereign status for some recently independent countries. "It's a unique time for moneymaking. There's a huge potential," said Stanley Kreitman, president of New York-based United States Banknote Corp.