EMerging Equity
FX Reserves
China’s Central Bank Will Need To Cease Forex Interventions By December, Rabobank Says
China’s Central Bank, the People’s Bank of China (PBOC), will be forced to refrain from supporting the nation’s currency — the yuan — by early December and allow for the currency to decline, due to a strain on its foreign exchange reserves, according to Rabobank, Bloomberg reports. China will have to keep at least $2.7 trillion … Continue reading
Market Meltdown Means More Pain For Oil-Producing Economies
By Zachary Fillingham Supply-side downward price pressure has been the story of global energy prices over the past year: newfound supply from the Shale Revolution, OPEC’s gambit of market-share grabbing inundation, and new supply coming online from Iraq and soon Iran. The result was a plunge in oil prices from $115 in mid-June 2014 to below … Continue reading
Bangladesh To Launch Sovereign Wealth Fund To Help Finance Much Needed Infrastructure Projects
Bangladesh is planning to launch a sovereign wealth fund (SWF) with its foreign currency reserves to help invest in much needed infrastructure projects, according to reports from Asian news media outlets. A sovereign wealth fund is a pool of money derived from a country’s reserves, which is set aside for investment purposes that are believed to … Continue reading
China’s Road To Reserve Currency Status: Ten Years Of The Flexible Renminbi
On Thursday July 21, 2005, Australia opened the batting at Lord’s Cricket Ground in London on the way to winning the first Ashes test against England. Currency traders, however, had to tear themselves away from the action after China’s out-of-the-blue announcement that it would replace its decade-old currency peg with a more flexible exchange rate … Continue reading
Venezuela’s Unofficial Exchange Rate Has Plunged 65% This Year, Breaks Through 500 Per Dollar To Record Low
The unofficial exchange rate in Venezuela has broken through 500 bolivars per dollar to reach a new record low on Friday, according to DolarToday. The unofficial exchange rate in Venezuela has broken through 500 bolivars per dollar to reach a new record low on Friday, according to DolarToday, the most popular exchange rate reference website in Venezuela, … Continue reading
China Ratifies The Freshly-Minted BRICS Bank
China has officially ratified the creation of the $100 billion New Development Bank (NDB), also known as the BRICS Bank, China’s state-run Xinhua news agency reports on Wednesday. China’s Parliament has ratified the creation of the $100 billion New Development Bank (NDB), also known as the BRICS Bank, China’s state-run Xinhua news agency reports on Wednesday. The BRICS grouping … Continue reading
BRICs Should Move To Single Market, Create Tools For Global Economic Control, Chinese Official Says
The BRICs grouping of emerging market nations — Brazil, Russia, India, China, and South Africa — should move toward a single trade and economic market, in addition to creating and promoting projects and tools for global economy control, Zhang Dejiang, the Chairman of the Standing Committee of China’s National People’s Congress (NPC), said during the first-ever BRICs Parliamentary Forum … Continue reading
GDP Of BRICs To Surpass G7 In Two To Three Years, Senior Russian Official Says
The combined gross domestic product (GDP) of the BRICs grouping of emerging market nations — Brazil, Russia, India, China, and South Africa — will exceed that of the Group of Seven (G7) member states in the next two to three years, a senior Russian official said Monday during the first-ever BRICs Parliamentary Forum in Moscow. “In 2014, … Continue reading
Instead Of Killing Fracking, OPEC Engineers Its Own Demise
By Patrick L. Young A market flooding production strategy many saw as intending to kill the US-centric shale revolution, has, if anything, only made it stronger. In essence the OPEC cartel is signing its own death warrant. As always the communique suggests harmony and continuity but behind the scenes this was apparently a more fraught OPEC … Continue reading
China’s Yuan No Longer Undervalued, IMF Says
By Xiao Xun China’s currency is no longer undervalued given its recent appreciation, but the government should pick up the pace in loosening controls on the exchange rate, the International Monetary Fund said. Economists critical of the IMF’s assessment said it did not reflect the real value of the Chinese yuan, and that the IMF was … Continue reading
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