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Kenya Shilling Depreciation Squeezes CBK On Monetary Policy Options
It is no secret that the Kenya shilling has been tanking, nearing 106 to the US dollar last week. Bear in mind that this is not the lowest the shilling has ever reached; KES reach USD 107 in October 2011. However, conditions now are different and have informed the anxiety about the depreciation of the … Continue reading
Russia Is Going To Pass A Law Formally Dumping The U.S. Dollar
By Michael Snyder Russian President Vladimir Putin has introduced legislation that would deal a tremendous blow to the U.S. dollar. If Putin gets his way, and he almost certainly will, the U.S. dollar will be eliminated from trade between nations that belong to the Commonwealth of Independent States. In addition to Russia, that list of … Continue reading
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
Emerging Market Currencies Perfectly Positioned To Crash Following The Devaluation Events in China, Vietnam And Kazakhstan
Kazakhstan’s currency fell by a record 23% in trade on Thursday, August 20th, after the country abandoned control of its exchange rate, as it became the latest emerging market to scrap efforts to prop up its currency before the U.S. Federal Reserve hikes interest rates. Vietnam’s Central bank has devalued the nation’s currency on Wednesday, August 19th, for the … Continue reading
Malaysia ETF (EWM) Hits New 52-Week Low
By Zacks Equity Research For investors seeking to know about the painful areas of investing, iShares MSCI Malaysia Index Fund (EWM) is probably on the radar now. The fund just hit a 52-week low, and shares of EWM are down roughly 36.6% from their 52-week high price of $16.32/share. Are more pains in store for this … Continue reading
Vladimir Putin: Meeting With Governor Of The Central Bank Elvira Nabiullina
Vladimir Putin met with Governor of the Central Bank Elvira Nabiullina to discuss the banking sector’s work over the first half of 2015. By The Kremlin Ms Nabiullina also spoke about progress on establishing the national payment system and national rating agency. * * * President of Russia Vladimir Putin: Ms Nabiullina, the Central Bank is doing a lot to strengthen the national currency, or at least, to keep it stable and maintain … Continue reading
China’s Transition To Slower But Better Growth
China is moving to a “new normal” of slower yet safer and more sustainable growth. This involves giving the market a more decisive role in the economy, says the IMF in its annual assessment of the economy. China’s growth is expected to be 6.8 percent in 2015, down from 7.4 percent last year. This slowdown, … Continue reading
As Growth Slows In China, Its Central Bank Devalues Currency By A Record 1.9%
China’s Central Bank, The People’s Bank of China (PBOC), has weakened the yuan’s daily reference rate by a record 1.9 percent on Tuesday and says it will strengthen market-oriented reforms in addition to increasing two-way market volatility, allowing depreciation to counter a slump in the nation’s exports. Following the move by the PBOC, the yuan dropped an unprecedented 1.6 percent … Continue reading
Kenya’s Real Debt Issue; And It Is Not The GDP To Debt Ratio
The International Monetary Fund (IMF) and World Bank recently raised the red flag over debt, stating Kenya must put a tight lid on it to keep its economy on a steady growth path. According to the Business Daily, Kenya’s debt load crossed the 50 per cent of gross domestic product (GDP) mark to stand at … 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
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