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.
Electricity, water, meat – almost everything has become more expensive in Egypt. Prices skyrocketed after the government floated the Egyptian pound currency in 2016 and slashed subsidies to meet the terms of an emergency loan deal by the IMF. Since then the state's budget has stabilized a bit, but many Egyptians are still struggling to make ends meet.
The Turkish president has declared war on food inflation. Food prices are soaring by 30 percent, after last year's collapse of Turkey's lira currency. Growing discontent with the economic crisis is threatening Recep Tayyip Erdogan's control of key cities ahead of local elections. But Erdogan accuses food sellers of price gouging and is taking radical measures. Dorian Jones reports from Istanbul.
US media report that Washington wants Bejing to promise it will not devalue the yuan currency as part of a trade deal. The measure would aim to neutralize any effort by Beijing to counter American tariffs by devaluing its currency.
Farmers in Zimbabwe can not afford to buy seeds due to the country's currency crisis. There is not enough foreign currency and the surrogate currency is depreciating. Government policies have brought the country to the brink of collapse.
Some 200 people have drowned in the Mediterranean Sea since the beginning of the year, trying to reach Europe from North Africa. The Italian government has closed its ports to rescued migrants. As Megan Williams reports from Rome, the country's populist government has found a new culprit for the migrant crisis and Africa's problems: France and the currency it created in Africa in 1945.