Word: cashed
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...rival is the U.S. dollar. The greenback has more than two centuries of history behind it. But it wasn't until Jan. 1, 1999 that 11 E.U. countries locked their national currencies together into a fixed exchange rate. Three years later, physical coins and notes became available, replacing national cash in a massive changeover operation. (See the top 10 business deals...
...vote saw President Mwai Kibaki edge out his rival, Raila Odinga, in balloting that was seen as rigged by both sides.) Damning evidence has emerged that Kenyan politicians plotted much of the violence that killed 1,200 people last January. This was done by offering cash to poor kids out in the countryside to kill or burn down houses of the politicians' enemies. It had been done before. Kung'u and a small band of colleagues think their leaders will do the same thing next time around. (See pictures of crisis in Kenya...
...their wallets for a rainy day. The Chinese have been hardy savers even in the best of times, scoring the highest saving rate among all major countries. Now, more than ever, their money is sitting in banks, unspent. "Call it old-school if you will, but I think putting cash in a bank really is the safest form to keep money right now," says Gong. "And a lot of my colleagues would agree too." (See pictures of the global financial crisis...
Just before U.S. markets went into meltdown and venerable financial institutions teetered or collapsed, several of Iraq's 18 provinces, including Diyala in the northeast, suffered their own cash crunch, literally running out of cash. Bank notes. Bills. Some public-sector bank branches, mainly in Diyala, ran out of physical bank notes because of a combination of unforeseen demand and a lapse in importing new currency notes from printers based overseas. It is the latest inefficiency to stymie the country's long-delayed reconstruction efforts...
...main state-owned commercial banks, the Rafidain and Rasheed, were empty. A kink in the supply chain owing to miscommunication among several financial bodies meant that the flow of physical bank notes to some provinces like Diyala was reduced to a trickle. There was no shortage of cash on the streets of the province, but government pensions and salaries were delayed, as were payments to contractors, who in turn didn't have the cold hard cash to pay their employees. "The reason you don't see [construction] cranes flying all over the province and building like they did when...