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Turkish lira sinks to record low against USD

STORY: Turkish lira sinks to record low against USD DATELINE: June 8, 2023 LENGTH: 00:01:22 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul 2. various of the currency exchange office in Istanbul 3. various of Istanbul Stock Exchange 4. a file footage about a press conference of Turkish President Recep Tayyip Erdogan in Ankara (Ihlas News Agency) 5. a file footage about a press conference Turkish Finance Minister Mehmet Simsek in Ankara (Ihlas News Agency) 6. various of Istiklal Street in Istanbul STORYLINE: The Turkish currency hit an all-time low against the U.S. dollar on Wednesday, trading at over 23 liras. After seeing 23.17 at 1:23 p.m. local time (1023 GMT) against the greenback, the lira stood at 23.05, losing around 7 percent of its value in a single day. The currency tested over 25 thresholds against the Euro in the morning and later dropped to 24.85. Meanwhile, the benchmark BIST-100 Index at the Istanbul Stock Exchange exceeded the 5,600 level on the same day, r

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Egypt's currency further declines against USD

STORY: Egypt's currency further declines against USD DATELINE: Jan. 5, 2023 LENGTH: 00:01:05 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of national banks in Egypt 2. various of citizens 3. various of banknotes STORYLINE: The Egyptian pound further weakened against the U.S. dollar whose exchange rate jumped Wednesday from about 24.7 to about 26.49 pounds, according to data on the website of the Central Bank of Egypt (CBE). It is the largest single-day decline of the Egyptian pound's value since the CBE allowed it to drop by about 14.5 percent in late October 2022. The country devalued its currency twice in 2022. The move complies with the country's "shift to a durable exchange rate regime" to contain inflation as a key demand of the International Monetary Fund (IMF), which has recently approved a loan of 3 billion dollars to Egypt to support its economic and structural reforms. The IMF's support package also includes measures to be implemented by Egypt to "reduce the state's footprin

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Eurozone faces unprecedented crisis but euro safe: French PM

TOKYO, Japan - French Prime Minister Francois Fillon delivers a speech in Tokyo on July 16, 2010. Fillon said the eurozone is facing an unprecedented crisis in its financial system amid concern about the debt levels of member countries, but that will not affect the credibility of the European single currency.

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Blair meets with auto executives

TOKYO, Japan - British Prime Minister Tony Blair (2nd from L) poses with Nissan Motor Co. President Carlos Ghosn (L), Toyota Motor Corp. Chairman Hiroshi Okuda (3rd form L) and Honda Motor Co. President Takeo Fukui (R) after their talks at a Tokyo hotel July 19. The auto executives repeated their call on Blair to join the single currency system. (Pool photo)

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Japan's Miyazawa hails U.S. participation in euro intervention

PRAGUE, Czech - Japanese Finance Minister Kiichi Miyazawa (L) on Sept. 23 hails U.S. participation in the Sept. 22 joint euro-buying market intervention to prop up the European single currency in his meeting with U.S. Treasury Secretary Lawrence Summers (C) and Federal Reserve Board Chairman Alan Greenspan (R), held prior to a meeting of top financial officials from the Group of Seven (G-7) economic powers in the Czech capital. The photo shows Miyazawa shakes hands with the U.S. central banker.

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Dealers prepare for euro trading

Dealers at the Tokyo Forex Co. prepare for the start of euro trading in Tokyo on Jan. 4. The euro - Europe's new single currency which debuted Jan. 1, traded at 132.91-133.14 yen and 1.1754-1758 U.S. dollars at 9 a.m. on the first Tokyo trading day in the new currency.

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Italian economist warns of inflation risks in Europe

STORY: Italian economist warns of inflation risks in Europe DATELINE: Aug. 4, 2022 LENGTH: 00:01:21 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of street views of Rome 2. SOUNDBITE (English): CARLO ALTOMONTE, Economist at Bocconi University in Milan STORYLINE: An Italian expert has warned that the lack of awareness of inflation in Europe may lead to a slowdown in consumption and investment over the next months. SOUNDBITE (English): CARLO ALTOMONTE, Economist at Bocconi University in Milan "I would say that we are much less used to the problems of inflation, rather than the currency devaluation. I would have to say that we have been in the single currency plus the very low inflation environment which we have been used to over the last ten years. I've never heard anyone recently talking about the value of the euro versus the dollar. I see many people keeping a lot of cash, a lot of liquidity in their bank accounts without realizing that this ability is going to be erased pretty quickly by the deg

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Euro falls to parity with USD, hitting 20-year low

STORY: Euro falls to parity with USD, hitting 20-year low DATELINE: July 13, 2022 LENGTH: 00:01:00 LOCATION: FRANKFURT, Germany CATEGORY: ECONOMY SHOTLIST: 1. various of the European Central Bank STORYLINE: For the first time in two decades, the euro on Tuesday fell to parity with the U.S. dollar, meaning one U.S. dollar is equal in value to one euro. The single currency of 19 European Union countries has not fallen to or below a one-to-one exchange rate with the U.S. dollar since December 2002. The euro continued to fall from Tuesday morning and traded at par with the U.S. dollar in a short-term in intraday trading. After reaching parity, the euro exchange rate picked up again slightly. As of 4:20 p.m. local time (1420 GMT), euro was trading for 1.005 dollars in the currency market. The euro will continue to fall even after falling below par with the dollar, said Ebrahim Rahbari, global head of foreign exchange analysis at Citigroup. Euro has slumped 10 percent against U.S. dollar since the start of

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BELGIUM-BRUSSELS-EURO

(220712) -- BRUSSELS, July 12, 2022 (Xinhua) -- A store of Western Union is seen in Brussels, Belgium, July 12, 2022. For the first time in two decades, the euro on Tuesday falls to parity with the U.S. dollar, meaning one U.S. dollar is equal in value to one euro. The single currency of 19 European Union countries has not fallen to or below a one-to-one exchange rate with the U.S. dollar since December 2002. (Xinhua/Zheng Huansong)

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BELGIUM-BRUSSELS-EURO

(220712) -- BRUSSELS, July 12, 2022 (Xinhua) -- People walk past a store of Western Union in Brussels, Belgium, July 12, 2022. For the first time in two decades, the euro on Tuesday falls to parity with the U.S. dollar, meaning one U.S. dollar is equal in value to one euro. The single currency of 19 European Union countries has not fallen to or below a one-to-one exchange rate with the U.S. dollar since December 2002. (Xinhua/Zheng Huansong)

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BELGIUM-BRUSSELS-EURO

(220712) -- BRUSSELS, July 12, 2022 (Xinhua) -- Photo taken on July 11, 2022 shows the Berlaymont Building, the European Commission headquarters, in Brussels, Belgium. For the first time in two decades, the euro on Tuesday falls to parity with the U.S. dollar, meaning one U.S. dollar is equal in value to one euro. The single currency of 19 European Union countries has not fallen to or below a one-to-one exchange rate with the U.S. dollar since December 2002. (Xinhua/Zheng Huansong)

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BELGIUM-BRUSSELS-EURO

(220712) -- BRUSSELS, July 12, 2022 (Xinhua) -- Photo taken on July 11, 2022 shows the Berlaymont Building, the European Commission headquarters, in Brussels, Belgium. For the first time in two decades, the euro on Tuesday falls to parity with the U.S. dollar, meaning one U.S. dollar is equal in value to one euro. The single currency of 19 European Union countries has not fallen to or below a one-to-one exchange rate with the U.S. dollar since December 2002. (Xinhua/Zheng Huansong)

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Turkish lira depreciates further after Erdogan's pledge of rate cuts

STORY: Turkish lira depreciates further after Erdogan's pledge of rate cuts DATELINE: June 9, 2022 LENGTH: 00:02:00 LOCATION: ISTANBUL, Turkey CATEGORY: POLITICS/ECONOMY SHOTLIST: 1. various of the exchange office 2. various of Erdogan speaking 3. various of the exchange office 4. various of Turkey's central bank, employee counting Turkish lira 5. various of Istanbul 6. various of gas station 7. various of people shopping at supermarket in Istanbul STORYLINE: Turkey's lira accelerated its downward spiral on Wednesday after Turkish President Recep Tayyip Erdogan reaffirmed on Monday his pledge to further cut interest rates and ease borrowing. One dollar was traded at 17.15 Turkish liras at 13:05 local time (10:05 GMT), losing 2.5 percent of its value in a single day, bringing its total losses to almost 100 percent compared with a year ago. Erdogan has been focusing on a low-interest policy to increase exports and production for a stabilized Turkish currency. Some commodities, such as diesel fue

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Japan's Miyazawa hails U.S. participation in euro intervention

PRAGUE, Czech - Japanese Finance Minister Kiichi Miyazawa (L) on Sept. 23 hails U.S. participation in the Sept. 22 joint euro-buying market intervention to prop up the European single currency in his meeting with U.S. Treasury Secretary Lawrence Summers (C) and Federal Reserve Board Chairman Alan Greenspan (R), held prior to a meeting of top financial officials from the Group of Seven (G-7) economic powers in the Czech capital. The photo shows Miyazawa shakes hands with the U.S. central banker.

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Eurozone faces unprecedented crisis but euro safe: French PM

TOKYO, Japan - French Prime Minister Francois Fillon delivers a speech in Tokyo on July 16, 2010. Fillon said the eurozone is facing an unprecedented crisis in its financial system amid concern about the debt levels of member countries, but that will not affect the credibility of the European single currency. (Kyodo)

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Blair meets with auto executives

TOKYO, Japan - British Prime Minister Tony Blair (2nd from L) poses with Nissan Motor Co. President Carlos Ghosn (L), Toyota Motor Corp. Chairman Hiroshi Okuda (3rd form L) and Honda Motor Co. President Takeo Fukui (R) after their talks at a Tokyo hotel July 19. The auto executives repeated their call on Blair to join the single currency system. (Pool photo) (Kyodo)

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Dealers prepare for euro trading

Dealers at the Tokyo Forex Co. prepare for the start of euro trading in Tokyo on Jan. 4. The euro - Europe's new single currency which debuted Jan. 1, traded at 132.91-133.14 yen and 1.1754-1758 U.S. dollars at 9 a.m. on the first Tokyo trading day in the new currency.