Dollar currencies around the world
When you think of a Dollar, you probably think about the USA. Upon independence, the US Congress established the US Mint and declared the Dollar as the national currency in 1792. The Dollar is not an English term though, it’s actually the anglicised version of the German word ‘Thaler’ which was a coin first issued in […]
Currency in the world’s smallest countries
In this week’s article, we’re looking at how currency is used in the world’s smallest countries. Take a read below: (We’ve based our list on the ten smallest countries by population size and also only looking at countries that are fully recognised independent sovereign states.) 🇻🇦 Vatican City | Population: 800 (Euro) The Vatican City […]
Which are the world’s most valuable currencies?
On a daily basis a currency’s value will change against another. When looking at their relative strength, it’s common to compare them against one of the major reserve currencies like USD, EUR or GBP. Using data from Nov 2022 , we’ve compiled a list of the world’s ten most valuable currencies and explained why they have […]
Initial reflections on the US Mid-term elections
Last Tuesday the US went to the polls in a set of major elections. Voters were choosing a new House of Representatives, a third of the Senators and many state-level offices. Despite the President not being on the ballot, these elections received worldwide attention because their outcome could have a major impact on US policy. […]
Who actually sets interest rates around the world?
Given the ongoing economic crises in various countries around the world, attention at the moment is rightly more focused on interest rate decisions than in normal times. The process for raising or lowering interest rates varies from country to country. For some, it’s a pretty simple decision made by the Finance Minister, for others, it […]
How did the US Dollar become King?
When it comes to currency, the US Dollar dominates all the others. No currency comes even close to having a similar power. The dollar accounts for nearly 60% of world foreign currency reserves and trillions of dollars of daily FX transactions. When this currency moves, the rest of the world takes notice. The Dollar’s reign […]
August was officially Sterling’s worst month since Brexit
As September began yesterday, we saw the official conclusion that August had been the worst month for Sterling since the aftermath of the Brexit referendum. August started with Sterling sitting at £1.21 to the US Dollar but over the course of month saw a slow and steady decline, ending down at £1.16. Not a good […]
GDP falls for the second quarter in a row.
This week has been considerably quieter economic data front, perhaps a relief given the volume of negative news recently. US inflation figures were released on Wednesday with consumer prices rising 8.5% in July, the rate of increase has been calmed slightly as fuel prices fell. No increase was recorded in CPI between June and July, […]
BoE Governor: Expect 13%+ Inflation and a Recession!
The key update of the week is that the Bank of England has increased its interest rate by 0.5%, the largest increase since the Bank’s operational independence in 1997. The rate rise comes on the back of a dismal economic forecast by the BoE that forecasted inflation rates of 13% by the end of the […]
Fears of recession loom as inflation spirals and confidence declines
This week has been dominated by the fears of a looming recession following the release of key GDP and confidence data. Significant news was released on Thursday when it emerged that the US economy shrank for a second consecutive quarter. This technical recession is due to a 0.9% GDP contraction for Q2 following a 1.6% […]