EMerging Equity
De-Dollarization
De-Dollarization: Will China’s Yuan Become A Global Reserve Currency?
In recent months, China has stepped up a longstanding campaign for its currency (officially called the renminbi [RMB] but also referred to as the yuan), to be included as a part of the composition of the International Monetary Fund’s (IMF’s) Special Drawing Rights (SDR). By Templeton Emerging Markets Group While the media is abuzz with the … Continue reading
BRICS: $100 Billion Liquidity Reserve Fund Comes Into Force
“The agreement on the BRICS $100 billion currency reserve pool came into force Thursday. The fund was set up by the developing nations group to protect their national currencies from volatility in global markets,” RT reports. “The arrangement is important not only because it provides the possibility to quickly obtain additional liquidity, but its very … Continue reading
De-Dollarization: Yuan Spreads To World’s Biggest $15Tn Metals Bourse
The London Metal Exchange (LME) on Tuesday started accepting yuan as collateral against contracts after getting permission from the Bank of England. “The renminbi [yuan – Ed.] is on its way to becoming one of the world’s most widely-used currencies. We are pleased to be able to help our members take advantage of the opportunities … Continue reading
China’s Record Dumping Of US Treasuries Leaves Goldman Speechless
On Friday, alongside China’s announcement that it had bought over 600 tons of gold in “one month”, the PBOC released another very important data point: its total foreign exchange reserves, which declined by $17.3 billion to $3,694 billion. By Tyler Durden (Zero Hedge) We then put China’s change in FX reserves alongside the total Treasury holdings … Continue reading
Russia, China Deepen Stock Exchange Ties
Russia’s largest exchange group the Moscow Exchange (MOEX) and the China Financial Futures Exchange (CFFEX) signed an Memorandum of Understanding (MoU) on Thursday that will help further develop financial ties between the countries. The MoU signed by both exchanges aims to strengthen the bilateral partnership and facilitate the development of both parties through information sharing, reciprocal … Continue reading
After Six Years Of Secrecy, China Has Released Questionable Gold Reserve Figures
After six years of mystery over how much gold China is actually hoarding, the nation surprised the bullion market on Friday by unveiling its first reserve figures since last published in April 2009, which showed a near 60 percent jump versus expectations that holdings had tripled since that time. China has boosted bullion assets to 53.31 million troy … Continue reading
Is The U.S. Trying To Crash China’s Market To Counter The Rising Clout Of The BRICS, SCO, EEU?
By Mahdi Darius Nazemroaya The tide is changing. The world is no longer dominated by the U.S., Western Europe, and Japan. The Group of Eight (G8), which reverted to the Group of Seven (G7) in 2014, has been displaced by the BRICS, which is why Russia was not bothered when it was expelled from the G8/G7 … Continue reading
De-Dollarization: The Dollar Is Slowly Losing Its Status As The Primary Reserve Currency
By Jeff Desjardins, Visual Capitalist The dollar has been a stalwart of international trade over the majority of the last century. Around the time of the formation of the Eurozone, it reached its recent peak at 71.0% of official foreign exchange reserves. Since then, its composition of global reserves has more recently dropped to a more modest … Continue reading
BRICS Bank To Start Lending In Local Currencies In Q1 2016, President Says
The $100 billion New Development Bank (NDB), also known as the BRICS bank, which comprises of the members of the BRICS grouping of emerging market nations — Brazil, Russia, India, China, and South Africa — will start lending in local currency by April 2016 and its member countries will be the primarily focus of the bank, K.V. Kamath, the President of … Continue reading
News Conference By Vladimir Putin Following The BRICS And SCO Summits
Vladimir Putin gave a news conference following the BRICS and Shanghai Cooperation Organisation summits in Ufa. By The Kremlin Vladimir Putin: Good afternoon, ladies and gentlemen. Let me start by giving a brief summary of the results of the BRICS and SCO summits that took place here in Ufa. They concluded Russia’s presidency in these two influential organisations and represent a big step in developing our countries’ multifaceted cooperation. In terms of their influence … Continue reading
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