by Geoffrey Smith One of the axioms of global geopolitics is that a country can project power only as far as its economic might allows. There is good reason why the United States, by far the world’s largest economy, has been the dominant force in all things political and military for the past 60 years. […]
The dollar rose to seven-year highs against the Japanese yen on Wednesday after the Federal Reserve meeting released minutes contained no big surprises to make investors change their bets that the U.S. economy will keep strengthening. Fed policy makers wrestled with whether to nod to financial market volatility and a weakening global economy in their […]
ISIS is planning to mint its own currency in gold, silver and copper, the group said Thursday. Its aim is to stay away from the “tyrant’s financial system,” ISIS said in a statement. It said it would issue another statement to explain the new currency’s exchange rate, and where it can be found. The currency […]
Venezuelans lined up to purchase airline tickets and TVs this weekend in a bid to protect themselves from price increases after ailing President Hugo Chavez devalued the bolivar for a fifth time in nine years.
Iran’s currency plummeted to an all-time low on Saturday, registering a more than 21-percent drop in a span of two weeks against the U.S. dollar, currency tracking websites and money changers said. The rial was traded at between 39,000 and 40,000 per dollar on the open market on Saturday, down from about 33,000 two weeks […]
Grappling with severe fuel shortages and winter temperatures that drop below freezing, Syrians are spending hours in line every day for gasoline or a few loaves of bread at soaring prices as President Bashar Assad’s regime faces mounting difficulties in providing basic services to its people.
Two European airlines said on Saturday they were halting services to Iran, a sign of the crumbling purchasing power of Iranians as their economy buckles under the weight of Western sanctions.
In Syria’s eastern town of Deir al-Zor, a rebel commander flush with cash was swapping his dollars for Syrian pounds to pay fighters battling President Bashar al-Assad’s forces. Money changers said that influx of foreign currency
Syria’s currency has come under intense pressure in recent weeks as rebels have taken their battle closer to the centre of the capital and international powers have begun talking about military intervention in the country’s escalating civil war. The value of the Syrian pound has dropped by more than 15 per cent on the black […]
Thirty-three years after the first economic sanctions were introduced against Iran, the Islamic Republic is feeling the negative effects more than ever. Ordinary Iranians are reeling from soaring prices for household goods. The official inflation rate is 23%, but most analysts believe it is much higher.