Afghanistan: Iran sanctions, dollar smuggling add to currency woes

 


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His actions too often contradict his rhetoric: He speaks of large trade agreements, but has so far only withdrawn the US from them.

Not one of his promised new deals has materialized. A trade dispute with China, uncertainty with regard to his dealings with Russia and now a dispute with Turkey, which is causing a plunge in the value of the lira. In the current economic climate, the dollar doesn't seem to be a safe bet.

Against this backdrop, the question remains: Which currency in future could give the dollar a run for its money? If other countries agree, the dollar could become less dominant in global trade in future, say some observers. Still, the US currency will likely remain the strongest individual national currency as long as the US enjoys greater investor confidence than that enjoyed by other countries. The Russian government has said it will further decrease its investment in the US economy as new sanctions loom.

It added that for the time being, no US company active in Russia would be shut down. The Chinese yuan has been on a losing streak in recent days, drawing fresh ire from US President Trump who accuses Beijing of deliberately depreciating the yuan to boost its exports and undercut American competitiveness.

After imposing one set of tariffs on China in July, the Trump administration announced another round on a further items on Tuesday. China immediately made good on its promise match the US dollar for dollar. With diplomatic tensions high, the Turkish lira has hit yet another all-time low against the US dollar, impacting more than just the Mediterranean country itself. But will the spillover into the eurozone bring a bang?

President Donald Trump has harshly criticized Iran in a speech at the United Nations, saying Tehran must change its behavior or face further consequences. Trump administration officials have also upped their rhetoric. The Indian rupee has turned out to be Asia's worst-performing currency this year as the nation's economy struggles with rising oil prices, a widening current account deficit and broader emerging market concerns.

By helping his father engage in dubious tax schemes, Donald Trump inherited hundreds of millions of dollars, The New York Times said. The report contains a "spectrum of questionable transactions," a legal expert told DW. By pretending a critical media voice against the Kremlin had been killed, Ukraine's intelligence agency wanted to expose those who allegedly planned a real murder from Russia. But many questions are still unanswered. An arson attack in Düsseldorf on a crane rental firm is being probed by police for possible links to a protest over clearing a nearby forest to make space for a coal mine.

It may be the second such case in days. Romanians are set to vote on a referendum that would outlaw same-sex marriage. The debate has deepened societal divisions in a country already embroiled in political turmoil. Change it here DW. COM has chosen English as your language setting. COM in 30 languages. Germany Sexual assault still underreported at Munich Oktoberfest Europe Russia's crisis still shaping Kremlin politics, 25 years on Business Proportion of misspent EU funds falling Audiotrainer Deutschtrainer Die Bienenretter.

Business US dollar on its way out as world's lead currency? Risk of shortages in Turkey as Lira nosedives. Russia to settle more bills in euros instead of dollars The Russian government has said it will further decrease its investment in the US economy as new sanctions loom.

China's falling yuan stokes currency tensions The Chinese yuan has been on a losing streak in recent days, drawing fresh ire from US President Trump who accuses Beijing of deliberately depreciating the yuan to boost its exports and undercut American competitiveness.

China and US brace for mutual tariffs. Social conditions improved for some Venezuelans, but government overspending, and increased dependence on dropping oil prices, led the country to one of the deepest recessions in history. But is it possible for information technology to support economic and financial initiatives that ease the pain and limit future failures? This question is a bit like asking a doctor whether a patient in a coma should remain on life support and receive further medical treatment.

Examples of fintech include digital currencies — otherwise known as cryptocurrencies such as Bitcoin — and the blockchain technology that verifies digital currency transactions. Unlike the coins and banknotes that consumers use daily, a private cryptocurrency e. Blockchain is the technology that authenticates virtual currency exchange by creating a digital peer-to-peer register, which records and stores all transactions blocks between parties.

Blockchain technology maintains a transaction database that is permanent, ordered chronologically, and is accessible to all other users of the network, who can remain anonymous.

Transaction records are secure and cannot be altered because they are tied to all previous transactions in the database. Simply put, blockchain is a shared platform on which parties who do not know each other, can collaborate without relying on a third party, and without compromising their privacy. The technology has also been shown to simplify and speed up transactions, and promote infrastructure interoperability, resilience, and distributed management.

A study last year highlighted the current statistics of cryptocurrency development across the globe and its benefits, such as the growing number of active cryptocurrency users 2. However, other studies have highlighted drawbacks due to the speculative nature of digital currencies, which can deteriorate the existing financial system.

From January to March , for example, Bitcoin was 18 times more volatile than the Euro in the traditional money markets. Additionally, a currency should serve three basic functions: