Currency news

Argentina

Date: November 1st, 2001 |

Argentina is suffering its worst recession in years and the pinch is especially being felt in the provinces. State employees and the unemployed have been protesting in several regions, with some demonstrations turning into riots. Areas affected include the provinces of Cordoba, Corrientes, Neuquen, Tierra del Fuego an [read more]

Ecuador

Date: August 15th, 2001 |

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A deepening economic crisis has prompted mass demonstrations in Quito and threats of strikes around the country that could block major highways. The Ecuadorian currency, the sucre, has lost 67 percent of its value in the past year, and Jan 10 President Jamil Mahuad proposed that the U.S. dollar replace it as the national currency. [read more]

Europe

Date: July 31st, 2001 |

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If you think the price of gas this summer in the U.S. is bad, try driving in Europe. Gas is traditionally much more expensive there than here, but the same crude oil price increases that have sent the price of gas past two dollars a gallon here have had a similar effect in Europe. The [read more]

Argentina

Date: July 19th, 2001 |

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An economic crisis has spread a general malaise throughout the country, leaving little optimism among Argentines and countless failing businesses in its wake. Predictions that the crisis will ease soon have come and gone with little relief. Growth is minimal, and Argentines now expect the worst. Further, thousands of unemployed workers shut down major highways [read more]

Congo

Date: October 23rd, 2001 |

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New currency regulations prohibit anyone from possessing foreign currency, including visitors. Travelers must declare their foreign funds on arrival and have three business days to deposit them in bank-run exchange houses. Whether these funds can be reconverted upon departure is unclear, so it’s best to carry as little cash as [read more]

Ecuador

Date: August 13th, 2001 |

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The U.S. dollar is now the official currency here, after President Gustavo Noboa signed a bill into law Mar. 9. The local currency, the sucre, will be withdrawn from circulation over the next six months. The desperate move was an attempt to stem inflation, which reached 9 [read more]

Australia

Date: July 25th, 2001 |

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It should come as no surprise, but prices in Sydney during the Olympics will be up, with taxi fares hiked ten percent to encourage drivers to keep cabs on the streets, and restaurants imposing automatic penalties for no-shows. At many restaurants, credit card information will be taken to confirm reservations, and if you don’t show [read more]

Central America

Date: July 16th, 2001 |

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In an effort to stabilize their economies, two more countries in the region are turning to the U.S. dollar for salvation. Long the national currency in Panama, the dollar is now legal tender in El Salvador and in May will be accepted for all transactions in Guatemala. Last year it replaced the sucre i [read more]