The digital currency can be used in any transaction and most businesses will have to accept payment in Bitcoin. The U.S. dollar will continue to be El Salvador’s main currency.
Tag: Currency
Lebanon’s Financial Collapse Hits Where It Hurts: The Grocery Store
The country’s currency has sunk to a new low against the dollar, sending prices for once affordable foods soaring out of reach.
How Can Biden Bring Back Manufacturing Jobs? Weaken the Dollar
Critics of a strong currency say it hurts American factory workers by making imports cheap.
China Charges Ahead With a National Digital Currency
The electronic Chinese yuan is now being tested in cities such as Shenzhen, Shanghai and Beijing. No other major power is as far along with a homegrown digital currency.
Iraq, Struggling to Pay Debts and Salaries, Plunges Into Economic Crisis
Oil-rich Iraq, its economy hobbled by neglect and corruption, has devalued its currency and had its imported electricity cut off for nonpayment.
Lockdown Gardening in Britain Leads to Archaeological Discoveries
The finds this year, including a cache of gold coins from the reign of Henry VIII, come as Britain considers expanding the law to protect a broader range of artifacts from its centuries-old history.
Turkey’s Finance Minister Resigns Amid Pressures of Sliding Economy
President Recep Tayyip Erdogan’s son-in-law, who is known for his ties to the Trump White House, said he was quitting as Turkey’s lira tumbles and its economy worsens.
Bartering Child’s Dress for Food: Life in Lebanon’s Economic Crisis
A TV chef abandons unaffordable beef. Blackouts make for sweltering summer nights. Changing money feels like a drug deal: The financial meltdown means daily pain and a blow to a country’s pride.
Our Cash-Free Future Is Getting Closer
The pandemic is propelling a shift toward a cashless society in ways that no other single event has. Experts say that’s not necessarily a good thing.
Lebanon’s Currency Plunges, and Protesters Surge Into Streets
Demonstrations broke out across the country after the pound sank to a new low against the U.S. dollar, obliterating the purchasing power of many Lebanese.