EMerging Equity
Special Drawing Rights
How China’s Currency Policies Will Change The World
By Stratfor Global Intelligence The recent fluctuations in China’s currency typify the best and worst of a globalized world, where developments in one place can instantly change the political and financial calculations of governments in others. For most of human history, the communities, cultures and economies of the world existed independently of one another, separated … Continue reading
Chinese Yuan: More “Significant Work” Is Needed Before Deciding Whether To Grant The Renminbi Reserve Currency Status, IMF Says
“The International Monetary Fund said the yuan trails its global counterparts in major benchmarks and that “significant work” in analyzing data is needed before deciding whether to grant the Chinese currency reserve status,” Bloomberg reports. According to the news agency: IMF staff members also opened the door to a possible delay in any approval with … Continue reading
IMF Work Progresses on 2015 SDR Basket Review
SDR review takes place every five years Staff paper lays out initial considerations; formal Board meeting late 2015 Focus on Chinese renminbi for meeting inclusion criteria The IMF Executive Board will formally review the composition and valuation of the Special Drawing Rights (SDR) basket toward the end of the year. As part of this process, … Continue reading
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
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
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
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
China’s Currency: Is The Time Ripe For A New Global Reserve Currency?
By Mikala Sorenson China’s push for the adoption of a super-sovereign reserve currency points to a possible larger role for IMF’s Special Drawing Rights (SDR). The current international monetary system is a historical exception. It has no anchor, such as the silver standard, the gold standard, or the Bretton Woods agreement. Instead, a floating currency … Continue reading
Chinese Yuan Set To Be Added As Reserve Currency This Year: Bloomberg Survey
China is set to see its currency, the yuan, officially called renminbi, being added as a reserve currency this year, according to Bloomberg. A recent survey conducted by Bloomberg shows that eleven out of sixteen economists have predicted that the International Monetary Fund (IMF) will add the Chinese currency to its Special Drawing Rights (SDR) basket during … Continue reading
Russia Gets Very Serious On De-Dollarizing
By F. William Engdahl Russia is about to take another major step towards liberating the Ruble from the Dollar System. Its Finance Ministry just revealed it is considering issuing Russian state debt in Chinese Yuan. That would be an elegant way to decouple from the dependence and blackmail pressures from the US Treasury financial terrorism operations … Continue reading
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