Money makes the world go round, they say. But for this to make sense, national currencies have to be recognized and trusted stores of value so that they can be traded among nations in foreign exchange markets.
Alongside classical forms of money, the rise of the Internet has also produced a rise in digital or virtual currencies with all their pros and cons. This page presents the latest DW content related to money and currencies.
The collapse in Turkey's currency, forcing a surge in interest rates, has plunged the country's construction industry into recession. Construction, once the driving force of Turkey's booming economy, is in trouble, which could pose problems for President Recep Tayyip Erdogan whose more than 15 years of electoral success is built on rising economic prosperity. Dorian Jones reports from Istanbul.
This week on the show: In the wake of Turkey's currency collapse, Istanbul's residents are struggling to make ends meet as prices continue to rise. Plus, a prominent Salafi preacher who's alleged to have helped radicalize hundreds of young Germans, and the world's youngest face transplant recipient talks about starting over.
A decade ago, Iceland’s currency collapse made the capital Reykjavik a convenient stopover on trans-Atlantic trips. Then word spread about the glaciers, geysers, volcanoes, and waterfalls. Today Iceland draws two and a half million visitors a year, and that’s got Alexa Dvorson wondering how well its fragile ecosystems will hold up...and whether the tour guide business could use an upgrade.
In Venezuela, as inflation tops one million percent, those who are able to are turning to the US dollar as a stable alternative to the national currency. Stores where products are priced only in US dollars are springing up in Venezuelan cities – but they’re out of reach for those who the currency crisis has hit hardest.