Dollars and Depression

But the world soon became awash in dollars.

I exchanged yen for dollars.

Please exchange yen for dollars.

He exchanged yen for dollars.

Can you change these dollars?

Where can we exchange yen into dollars?

Where can I exchange yen for dollars?

Where can dollars be exchanged for pounds?

I converted my yen into dollars.

I need to exchange dollars for pesos.

Can I exchange yen for dollars here?

Where can I exchange yen for dollars?

I'd like to change yen to dollars.

I would like to change my American dollars to euros please.

To some observers, this represents a fundamental shift in the global balance of power, because China could bring the US to its knees by threatening to sell its dollars.

The aim is not to hold rupees but to make money and eventually re convert to dollars.

For that, dollars are converted into rupees, which are used to buy shares.

Emerging market central banks diversified out of dollars and into gold.

Second, carry traders borrow short term money in Japan but may invest in longer term assets outside Japan.

CAMBRIDGE When will China finally realize that it cannot accumulate dollars forever?

First, carry traders borrow in yen but invest in dollars and other currencies.

There is also the convenience factor dollars are widely used in a variety of other transactions.

Often those who purchase dollars do so out of concern of local currency devaluation.

When investment moves back into dollars, the currency fluctuations in these less liquid markets can become excessive.

In this context, Argentina s rich and powerful vote with their wallets and send their dollars overseas.

When prices are rising, the real interest rate is less than the nominal rate since the borrower repays with dollars that are worth less.

With a lower total yield and increased portfolio risk, it is not surprising that investors worldwide want to sell dollars.

When that day arrives, Americans had better pray that their creditors will be as happy to accept dollars as they are now.

In any case, American gold holders found their wealth involuntarily transformed into paper dollars by the Roosevelt administration at the nadir of the Great Depression.

Partly by design and partly by chance, about a decade ago China found itself consistently accumulating large amounts of foreign reserves by running a trade surplus and intervening to buy up the dollars that this generated.

Now, Argentines are emigrating to Europe and the US in large numbers and are trying to convert Pesos to dollars at any opportunity.

In most countries, such intervention would tend to push up inflation, because the central bank issues local currency in return for dollars.

The underlying idea is simple every year, countries around the world set aside reserves as insurance against contingencies such as an abrupt downturn in foreign lenders' sentiment or a collapse of export prices.

Suppose, then, that the rupee's exchange rate begins to fall. The foreign investor will naturally want to sell off Indian stocks.

SDRs are a kind of global money, issued by the IMF, which countries agree to accept and exchange for dollars or other hard currencies.

The aim is not to hold rupees but to make money and eventually re convert to dollars.

This problem is compounded by the global reserve system, which sees most countries demanding US dollars, effectively to bury them in the ground.

The idea was to permit countries whose official dollar holdings were larger than they were comfortable with to convert dollars into SDRs.

Instead, the government closed down the banking system, so that depositors could no longer convert their pesos into dollars!

Revenue is driven by the flow rate, the number of customers that we serve, times the dollars that we make per customer.

Those credits can be converted into dollars and other currencies at the Fund, and can be used in official transactions among IMF member countries.

Russians are looking to unload their rubles any way they can either by selling them for dollars and euros, or buying up electronics, groceries, and clothes.

Brazilian investors and U.S. banks began to take money out, forcing the Central Bank to sell scarce dollars in order to keep the hallowed stability of the currency.

But an increase in government outlays often means wasteful spending that produces less value than consumers would get from those same dollars.