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.

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

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.

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

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.

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.

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.

Of course, before being bailed out by governments, banks had never made any return in their history, assuming that their assets are properly marked to market.

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

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

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

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.

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

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

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

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

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

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.

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

Although the maximum sustainable real interest rate is about 10 , Brazil's dollar denominated debt yields 24.5 .

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.

On that date, Tokyo sold the yen against the dollar on a massive scale in order to cut the value of the Japanese currency, which was setting a new record of strength since 1945.

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

In reality, the currency in which oil is priced would have no significant or sustained effect on the price of oil when translated into dollars, euros, yen, or any other currency.

The dollars invested by the Marshall Plan helped achieve US objectives in reconstructing Europe, but so did the ideas transmitted by American popular culture.

In the meantime, the central bank hemorrhaged reserves defending this slow correction, while commercial banks have been holding on to dollars in anticipation of the ruble s further decline.

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.