The purported object behind this step is to get rid of high denomination currency notes that the government believes are hoarded by tax evaders and corrupt government bureaucrats. This might be a little difficult to digest for an economist.
In response to the Italian Referendum which caused prime minister Matteo Renzi to resign, the Euro/USD took a dive from 1.0672 to as low as 1.0506.
A long time ago, people did not buy or sell with money. Instead, they traded one thing for another to get what they wanted or needed. This exchange of goods or services is called barter. At the beginning this was sufficient, but with the evolution of
Forecasting worldwide since 1980, never before have we observed so many key socioeconomic and geopolitical trend dynamics as those that will shape 2017 and beyond for both better and for worse.
"Economy Shattered, Currency Collapsing": Venezuelans Wait In 6 ATM Lines For Enough To Buy Rice
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Editor's Comment: The cashless society is catching up to all of us. Most of Europe has shifted that way, and now India is forcing the issue. In the United States, people are being acclimated to it, and may soon find that no other option is practica
Early this morning, in yet another session of panicked selling, the Turkish Lira crashed to new record lows to just shy of USDTRY 3.60, momentarily going bidless as the currency plunged nearly 400 pips in seconds, ....
A Market Gripped by Fear
PBOC Imposes New Yuan Outflow Limits For First Time In Two Decades
AN INVESTOR who correctly predicted Britain would leave the European Union (EU) before the referendum has now forecasted the euro will collapse.
Unocoin, an Indian bitcoin start-up, has unveiled a new app for Apple's mobile operating system iOS and Google's Android platform.
Thousands of people in India are protesting the government's decision to ban 500 and 1,000 rupee notes, which accounted for 86 percent of cash in circulation.