November 18, 1987 |
From the way he stared glumly at his drink, I could tell it had been another long, hard day for my friend the stock market investor. Pretty rough? I asked. "Well, the morning got off to a bad start because I was troubled by post- crash uncertainty. " Sounds worse than a hangover. "And naturally, I was alarmed by the continuing slide of the dollar. " Naturally. All those sliding dollars, you slip on one and break your neck. Then what happened? "By midmorning, I began dipping sharply lower.
May 18, 2013 |
Attention, bargain-hunters around the world: Japanese goods - from cars to televisions - are going on sale. Credit Japan's drive to pump cash into its economy to stimulate growth. The extra money flooding its financial system is helping shrink the value of the yen. A dollar now buys about 100 yen compared with fewer than 80 last fall. When the yen's value falls, many Japanese goods become less expensive worldwide. By contrast, goods made in Europe, Asia, and the United States become pricier compared with Japanese products.
March 28, 1990 |
The dollar climbed to a three-year high against the tumbling yen yesterday as confusion over Tokyo's monetary policy continued to drag down the Japanese currency. The dollar closed mostly higher against other major currencies, including the West German mark, which has been weighed down by uncertainty over the impact of German unification and the crisis in Lithuania. The dollar finished in New York at 157.75 yen, up from Monday's closing of 156.75 yen, its highest close against the yen since January 1987.
April 1, 1990 |
Finance ministers in Tokyo and Washington are in a dither about exchange rates, but Peter Mastro is a happy man. Mastro owns a Subaru dealership. And as far as he can tell, the precipitous slide of the Japanese yen - the very subject prompting concern elsewhere - can only mean good things for his business. Subaru, to cite just one example of a Japanese import, did not prosper during the years that the yen gained strength against the dollar. Consequently, the price of the most popular model of Subaru rose from about $12,000 in 1985 - the year the yen started heading toward the stratosphere - to about $14,000 now, Mastro said.
December 31, 1987 |
The dollar sank to a post-World War II low against the Japanese yen for the third-straight day yesterday, despite White House spokesman Marlin Fitzwater's remark that the administration wants the currency stabilized. The dollar was generally lower against other major currencies in light trading. In New York, the dollar ended at 123.25 yen, a post-World War II low, down from 123.55 on Tuesday. Earlier in Tokyo, it finished at 123.50 yen, unchanged from Tuesday. The dollar closed at 1.5950 West German marks in New York, down from 1.5960 on Tuesday.
June 8, 1990 |
The United States spent nearly $1.8 billion earlier this year to dampen the rise of the dollar, particularly against the Japanese yen, Federal Reserve officials reported yesterday. The intervention took place from February through April, a three-month period during which the yen was battered by worries over the Japanese economy and financial markets. To support the yen, the Federal Reserve Bank of New York, which carries out trades in foreign currencies to stabilize exchange rates, spent $1.58 billion to buy Japanese yen and an additional $200 million to buy German marks.
March 18, 2011 |
WASHINGTON - The earthquake-related crisis in Japan has pushed the U.S. dollar to its lowest since World War II, a trend that could give American exporters an advantage and help strengthen the U.S. economy. A weaker dollar makes U.S. exports cheaper overseas. But it also could fuel inflation at a time when prices for food and oil are already creeping up. The dollar fell Wednesday to the point where it took only 76.32 yen to buy $1 - the lowest since the mid-1940s. It rose to trade at 78.97 yen Thursday.
June 13, 1989 |
The dollar rose yesterday to its highest value in 2 1/2 years against the West German mark and to its highest value in nearly two years against the Japanese yen. The gains came despite heavy selling of dollars by central banks trying to hold down the greenback's surge. The dollar's continuing gains against other currencies raise the buying power of U.S. consumers, but could hurt sales and profits of U.S. manufacturers and could jeopardize progress on cutting the U.S. trade deficit.
March 8, 1995 |
The dollar crashed to new lows against the Japanese yen and German mark yesterday as the Federal Reserve held back from mounting a rescue in the fourth-straight day of the greenback's free fall. Stocks and bonds were dragged down by fears that the Fed might raise interest rates to prop up the dollar, but precious metals rallied as investors sought refuge from inflation. The dollar had one of its worst single trading days in years, losing more than 2 percent of its value against the mark and the yen. A broad range of analysts said no crisis was at hand because the currency turmoil had not triggered a major sell-off in U.S. stock and bond markets.