In Brief: Dollar Dominance… Nike Boosts Native Americans…
Despite its weakness, the dollar remains the world's dominant currency in global foreign exchange markets, followed far behind by the euro, yen and British pound, a survey by the Bank for International Settlements published Tuesday revealed.
- DOLLAR DOMINANCE: Despite its weakness, the dollar remains the world's dominant currency in global foreign exchange markets, followed far behind by the euro, yen and British pound, a survey by the Bank for International Settlements published Tuesday revealed. The dollar was involved in 86.3 percent, compared with 88.7 percent in 2004, of each transaction between two currencies, followed by the euro, at 37 percent; the yen, at 16.5 percent, and the pound, at 15 percent, the survey said. It also revealed the Indian rupee accounted for 0.7 percent, up from 0.3 percent three years earlier, and China's yuan, for 0.5 percent, up from 0.1 percent. The BIS study draws on data provided by 54 central banks that took part during April in the triannual survey of foreign exchange and derivatives markets activity.
- NIKE BOOSTS NATIVE AMERICANS: To encourage physical activity among Native Americans, Nike on Tuesday unveiled the Nike Air Native N7, an athletic performance shoe designed to address specific fit and width requirements for the Native American foot. Profits from Nike Air Native N7 will support "Let Me Play" programs on Native American lands. After almost two years of research fitting Native Americans from more than 70 tribes, plus consulting podiatrists and members of Indian Health Services and the National Indian Health Board, Nike created a shoe made for the wider Native American foot. The design of the Nike Air Native N7 shoe draws inspiration from Native American culture, like a feather print lining the shoe, and also embraces Nike's Considered design ethos, which aims for sustainability and waste reduction. The Nike Air Native N7 will be sold exclusively through Nike's Native Business Program.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)