1. Should we buy euros in an attempt to strengthen what is an insecure currency? 2. It also fell against the yen and the pound, but the European Central Bank indicated it would not buy euros to try to bolster its value. 3. One of the first phone calls Alami Driss received Tuesday morning was from someone asking how he could buy euros for a planned trip to Europe. 4. Six months ago, many economists and investment analysts predicted that foreign financial institutions, including central banks, would start selling dollars and buying euros. 5. That would make Europe more attractive to global investors, meaning that they would buy more euros to invest there. 6. The amount of money that governments are prepared to spend buying euros is tiny compared with the amounts that private currency traders are prepared to sell. 7. But rumors Thursday that the European Central Bank may soon intervene by buying euros and selling off dollars helped prop up the fledgling currency. 8. Currency traders began buying euros on news that the Ifo index of German Business sentiment rose in January after a seven-month decline. 9. European central bankers intervened in money markets again Monday morning, buying euros to give the ailing currency a needed boost. 10. If they want to buy euro they must go to the local bank or post-office to exchange their lira. |