currency news stories on Newser

Malawi Slashes Currency By a Third

Mon, 07 May 2012 11:25:26 CDT

The official rate of Malawi's currency has been cut by a third as the impoverished southern African nation seeks to repair ties with the International Monetary Fund, the country's central banker said today. The move is just one in a series of steps President Joyce Banda's government has taken that...

Canada Phasing Out Pennies

Rob Quinn — Fri, 30 Mar 2012 00:01:00 CDT

The Canadian government has decided to save millions of dollars by pinching the penny out of existence. The Royal Canadian Mint—which makes 25 pennies per Canadian every year, at a cost of 1.5 cents per coin—will stop producing pennies next month, and the government will start withdrawing...

Euro Breakdown Starts Now

Neal Colgrass — Mon, 02 Jan 2012 16:50:13 CST

Welcome to the year that the Eurozone begins its breakup and slides into certain doom—or so says one economic think tank in Europe. There is a 60% chance that "at least one country (and probably more) will leave" the euro in 2012, the head of the Centre for Economics...

Japan, China Cut Currency Deal, Shun Dollar

Kevin Spak — Mon, 26 Dec 2011 09:53:05 CST

Japanese Prime Minister Yoshihiko Noda met with Chinese President Hu Jintao in Beijing today, and emerged with a number of deals—including one that will marginalize the US dollar in Asia. The countries agreed to promote direct yuan-yen trades, the Wall Street Journal reports; until now, the money has usually...

Canada's New $100 Bill Made of Plastic

Evann Gastaldo — Wed, 16 Nov 2011 15:30:05 CST

Starting this week, you can pay with plastic in Canada—without incurring any credit card debt. The Bank of Canada put a new $100 bill made out of polymer into circulation, the Globe and Mail reports, and banks stopped issuing the old paper notes Monday afternoon. Polymer $50 bills are...

Australia Mints One-Ton Coin

Matt Cantor — Thu, 27 Oct 2011 14:36:05 CDT

Australia's Perth Mint has created the world’s biggest gold coin—more than a ton of 99.99% pure gold, the Sydney Morning Herald reports. The coin’s face value is $1 million Australian dollars—just over $1 million American—but it’s worth more like $57 million American. At 31 inches wide...

China Threatens 'Trade War' Over Senate Bill

Kevin Spak — Mon, 10 Oct 2011 10:54:24 CDT

A senior Chinese official warned today that the US is in for a “trade war” if it enacts a Senate bill that would punish China for artificially keeping its currency low. The bill “in no way represents the reality of the economic and trade relationship between China and the US,...

China Sets Yuan Rate at New High

Matt Cantor — Mon, 26 Sep 2011 12:54:15 CDT

China has set the guiding rate for the yuan at its highest yet, despite investors worldwide pushing the currency downward, the Wall Street Journal reports. The move points to China’s central bank’s resolve not to let global economic concerns foil its long upward push for the yuan, a shift which...

Tiny Island to Mint Star Wars Currency

Matt Cantor — Thu, 11 Aug 2011 16:24:19 CDT

Move over, Queen Elizabeth: Luke Skywalker and friends will soon be sharing a spot on the currency of a tiny Pacific island. Yoda, Leia, and Darth Vader also will appear on the flip side of the soon-to-be-minted coins for the island of Niue. It’s the first time Star Wars characters...