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NEWS
August 1, 2003 | By Henri Sault FOR THE INQUIRER
With the Baltimore convention in full swing today, members of the American Numismatic Association are seeing a panorama of American coinage and currency almost unsurpassed in history. In the Baltimore Convention Center, the association has opened an exhibition, assembled by collector John Whitney, of 1,395 pieces of U.S. currency. Arranged in 43 display cases, the currency traces the history of U.S. paper money and outlines plans for collecting. Paper money appeared after the Civil War in many sizes, colors and legal bases.
TRAVEL
July 1, 2013 | By Christopher Elliott, TRIBUNE MEDIA SERVICES
Processing a credit-card charge for overseas purchases used to be pretty simple. You swiped your card while on vacation, your bank changed the money from pesos or euros into greenbacks, and the amount you spent appeared on your bill. Maybe you paid a small conversion fee, but you also got a competitive exchange rate. Not anymore. Just ask Jae Cuadra, who recently tried to buy a round-trip train ticket between the Swiss cities of Interlaken and Lauterbrunnen. The purchase at a train station in Interlaken went on his Capital One Visa card, which doesn't charge to convert foreign currencies.
NEWS
March 11, 1990 | By Henri Sault, Inquirer Coins Writer
American legends, depicted through the engravers' art, once made U.S. currency lively. From the Civil War until the 1928 issues, U.S. currency was large and richly ornamented. Collectors have been drawn to the portaiture and narrative scenes on those notes. Columbus' discovery of America; scenes of warfare, agriculture and industry; Franklin flying his kite; historic ceremonies, and images of eagles, bears and buffaloes - all found their way onto paper money. More than 400 lots of U.S. and colonial currency will be auctioned Thursday at the Omni Park Central Hotel, Seventh Avenue at 56th Street, New York City.
BUSINESS
March 7, 1988 | By Tom Belden, Inquirer Staff Writer
Time was when the back seat of a Bogota taxi or the back room of a Paris bistro was a good place - some experienced travelers would tell you the best place - for an American to change dollars into the local currency. In other words, black-market exchange rates in many countries were much better than the banks' official rates. That may still be true in parts of the Third World or the Eastern bloc, where hard currencies are often in great demand. But for the most part, the business of international exchange is lucrative enough for banks and independent currency dealers that their rates are competitive with any to be found in an alley.
NEWS
October 6, 1990 | By Larry Eichel, Inquirer Staff Writer
British Prime Minister Margaret Thatcher surprised the international financial community yesterday and accelerated the pace of European integration by announcing that her country would join the European Community's exchange- rate mechanism as of Monday. At the same time, she announced a 1 percent cut in Britain's interest rates, from 15 percent to 14 percent. The British move is a significant step toward the eventual creation of a single European currency and a European banking system.
NEWS
May 21, 1998 | By Michael Sklaroff
News item: Since former mayoral top aide David Cohen has eclipsed Benjamin Franklin, according to Bar Chancellor Mark Aronchick, the Board of Governors of the Federal Reserve Bank of Philadelphia has issued an immediate order withdrawing all $100 bills in circulation in this region. Do not be alarmed: The bills will be redeemable for City of Philadelphia River Gaming Bonds, maturing in 2048. The familiar $100 bill will be reissued and replaced with currency bearing David Cohen's portrait.
BUSINESS
June 22, 1988 | Daily News Wire Services
Financial markets staged strong rallies today as the dollar surged amid optimism that leading Western industrial nations would support a higher level of the U.S. currency. The dollar began rising in Asia and Europe after leaders of the seven biggest industrial democracies, who met in Toronto for three days this week, said they would support a slightly higher dollar. Wall Street stocks made a strong start with the key Dow Jones industrial index rising 32 points to 2,141 by 11:20 a.m. Volume on the New York Stock Exchange was heavy, with 45 million shares changing hands in the first 30 minutes.
SPORTS
February 19, 2011 | By T.J. Furman, Inquirer Staff Writer
Pride is Albert Pujols' chosen currency St. Louis Cardinals first baseman Albert Pujols will almost assuredly become a free agent after this season. Depending on whom you listen to (Tom Verducci or Jon Heyman at SI.com, Ken Rosenthal at Fox Sports, Tim Brown at Yahoo), the Cards offered Pujols a deal for somewhere around $22 million a year for about eight to 10 years. That's $3 million less per season than the Phillies will be paying Ryan Howard to strike out every 31/2 plate appearances from 2012 until 2016.
BUSINESS
November 12, 1992 | By Julia C. Martinez, INQUIRER STAFF WRITER
The Philadelphia Stock Exchange is reaping the benefits of volatile world markets as investors turn more to options to protect their money. During the last two months, the exchange's trading volume in currency options has soared, according to exchange officials. In September, traders bought and sold through the Philadelphia exchange a record 1.6 million currency-options contracts valued at $75 billion. In October, trading volume reached 1.3 million contracts, the second most active month in exchange history.
NEWS
September 3, 1992 | By Vyola P. Willson, INQUIRER CORRESPONDENT
Once upon an unsettling time, Chester County banks, borough governments and even hotels and general stores issued their own currency - everything from 6 1/4-cent bills to $1,000 bills. Some folks preferred to be paid in local money because of the spotty stability of federal money. The trouble began with Continental Congress currency that spawned the expression "not worth a Continental. " The Chester County currency circulated right along with federal paper and foreign coins - legal currency until 1867 - from colonial times through 1933, when the country went off the gold standard and local currency was no longer legal.
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NEWS
December 8, 2013 | By John Timpane, Inquirer Staff Writer
They met by night, in the glow of a Wells Fargo ATM. Twenty men ages 20 to (if you count me) 60. Some dark conspiracy? No. This was a meet-up of the Philly Bitcoin Society at 30th Street Station on Thursday. Announced on Meetup.com, Facebook, and elsewhere, this was a gathering of people excited by one thing: Bitcoin. Wait. What? Bitcoin is a Web-based system of monetary exchange. It went live in January 2009. Its inventor's pseudonym is Satoshi Nakamoto, one of the world's most famous fictional people.
NEWS
August 5, 2013 | By Bonnie L. Cook, Inquirer Staff Writer
John V. Gedeon, 101, of Abington, a retired printer and engraver who helped print the nation's currency, died of congestive heart failure Tuesday, July 23, at Abington Hospice at Warminster. He stayed vigorous and mentally sharp, writing his own checks until a week before his death, said his daughter, Kathy Gedeon Scott. Born in Cleveland, Mr. Gedeon graduated from West Technical High School in 1930. He worked for the Bureau of Engraving and Printing in Washington, where he managed and operated printing presses and engraving machinery to print money.
TRAVEL
July 1, 2013 | By Christopher Elliott, TRIBUNE MEDIA SERVICES
Processing a credit-card charge for overseas purchases used to be pretty simple. You swiped your card while on vacation, your bank changed the money from pesos or euros into greenbacks, and the amount you spent appeared on your bill. Maybe you paid a small conversion fee, but you also got a competitive exchange rate. Not anymore. Just ask Jae Cuadra, who recently tried to buy a round-trip train ticket between the Swiss cities of Interlaken and Lauterbrunnen. The purchase at a train station in Interlaken went on his Capital One Visa card, which doesn't charge to convert foreign currencies.
BUSINESS
February 20, 2013 | By Jana Randow, Bloomberg News
European Central Bank president Mario Draghi said he urged finance chiefs from the Group of 20 nations to be prudent when talking about currency movements. During a G-20 meeting in Moscow last week, "I urged all parties to very, very strong verbal discipline" because "the less we talk about it, the better it is," Draghi told European lawmakers in Brussels on Monday. "Exchange rates should reflect fundamentals" and "looking at the real and nominal exchange rates of the euro, it is by and large around its long-term averages," he added.
BUSINESS
February 14, 2013 | By Pan Pylas, Associated Press
BRUSSELS - The Group of Seven leading industrial nations, which includes the United States, Japan, and Germany, warned Tuesday that volatile movements in exchange rates could adversely hit the global economy. There have been increasing concerns around the world that countries might manipulate their exchange rates through their domestic economic policies in order to gain an edge. A lower foreign exchange rate can make a country's exports cheaper, thereby boosting growth. But one currency can fall only if another rises - which in turn will create trade problems for other countries.
NEWS
October 24, 2012 | By Jonathan Lai, INQUIRER STAFF WRITER
A Kingsessing baggage handler for US Airways was arrested by the FBI Tuesday for the theft of $20,000 in uncirculated hundred dollar bills at Philadelphia International Airport two weeks ago. Alex Price, 25, of the 5500 block of Malcom Street, confessed to the theft after completing a polygraph exam Tuesday. Price then led FBI agents to his two cars, parked near his house, and the FBI recovered the stolen cash from one of the cars. In an affidavit supporting a warrant for Price's arrest, FBI special agent John Deven Sermons gave the following account of events: A shipment of hundred dollar bills - a new design not yet in circulation - containing sixty packages of approximately $3.2 million each was being transported from Dallas to the Federal Reserve in East Rutherford, N.J. Between the landing of US Airways flight 1210 at 10:35 a.m. October 11 at Philadelphia International Airport and the shipment's arrival at East Rutherford, however, one package was opened.
NEWS
September 3, 2012
Peter Vanham is a financial reporter and a Belgian fellow of the Pascal Decroos Fund for investigative journalism who is writing for The Inquirer this summer I felt sorry for the party organizers on that New Year's Eve of 2002, the night the euro was introduced. Everyone paid the entrance fee in Belgian francs. But the cashier had to give the change in euro. The poor man went crazy, unfamiliar as he was with the new currency. I went home with more money than I had coming in. I love the euro, I thought.
NEWS
April 22, 2012 | By Scott S. Powell
European debt problems have kept financial markets on edge during much of the last two years, but it is the debt problem in the United States that is far more likely to precipitate a global crisis. Recently, Lawrence Goodman, a former crisis-prevention analyst at the U.S. Treasury, sounded the alarm that investors balked at low coupon rates last year, forcing the Fed to buy "a stunning … 61 percent of the total net issuance of U.S. government debt. " His view that ballooning deficits and excessive debt put the U.S. economy and markets at risk for a sharp correction also explains why the recovery is so weak and why trillions of dollars remain sidelined.
NEWS
February 7, 2012 | By Ali Akbar Dareini, Associated Press
TEHRAN, Iran - A trip to the store in Iran these days offers a crash course in life under Western economic sanctions. The prices of many imported goods - from South Korean refrigerators to Turkish crackers - can be double what they were last year. The money to buy them, meanwhile, has plunged in value against the U.S. dollar and other foreign currencies. But there are no apparent shortages for those still willing to buy. Chinese products fill gaps left by European businesses and others that have left Iran's consumer market following economic sanctions over Iran's refusal to rein in its nuclear program.
BUSINESS
December 15, 2011 | By Becky Yerak, Chicago Tribune
CHICAGO - If you need to pay a babysitter, send money to a kid in college, or reimburse a friend for lunch but don't have your checkbook or cash on hand, pick up your smartphone. An increasing number of banks are rushing to offer or enhance person-to-person money transfer services. In many instances, all you need to send money to someone is that person's mobile number or e-mail address. Person-to-person mobile payments are still in their infancy in the United States, with only 4 percent of Web-connected adults using them in 2010, according to a November report by Forrester Research Inc. More than half of all mobile person-to-person payment users conduct such transactions at least monthly, and interest has been growing in the last three years, Forrester said.
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