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Tag Archives: currency crisis
How Much Higher Can The U.S. Dollar Go?
How Much Higher Can The U.S. Dollar Go? And what will the implications be? megainarmy/Shutterstock Let’s start our examination of the U.S. dollar (USD) by recalling the chart from my August 2014 essay, Why the Dollar Could Strengthen—A Lot. At that point, the USD had moved modestly off its lows, and had yet to challenge long-term […]
These Currencies Could Be The Next To Tumble In Global FX Wars
These Currencies Could Be The Next To Tumble In Global FX Wars Earlier this week, Kazakhstan moved to a free float for the tenge, prompting the currency to plunge by some 25%. The move came after the country’s exporters could no longer stand the pain from plunging crude prices and the RUB’s relative weakness. China’s move to […]
Now Is The Time – Fear Rises As Financial Markets All Over The Planet Start To Crash
Now Is The Time – Fear Rises As Financial Markets All Over The Planet Start To Crash Can you feel the panic in the air? CNN Money’s Fear & Greed Index measures the amount of fear in the financial world on a scale from 0 to 100. The closer it is to zero, the higher the level […]
When Money Dies
When Money Dies “When Money Dies” is the title of a 1975 book by Adam Fergusson, in which he describes the downfall of the Reichsmark in Weimar Germany. A fascinating look at that period of history, one can glean quite a few useful pieces of advice on how to survive a currency crisis. But “when […]
Philip Haslam: When Money Destroys Nations
Philip Haslam: When Money Destroys Nations Understanding how currencies collapse The global debt glut, plus the related money printing efforts by the world’s central banks to try to stimulate further credit growth at all costs, leads us to conclude that a major currency crisis — actually, multiple major currency crises — are practically inevitable at […]
We Live In An Era Of Dangerous Imbalances
We Live In An Era Of Dangerous Imbalances And history shows they correct painfully The intervention by the world’s central banks has resulted in today’s bizarro financial markets, where “bad news is good” because it may lead to more (sorry, moar) thin-air stimulus to goose assets prices even higher. The result is a world addicted to debt […]
Turkey’s Central Bank Raises Ratio for FX Reserve Requirements – Bloomberg
Turkey’s Central Bank Raises Ratio for FX Reserve Requirements – Bloomberg. Turkey’s central bank increased the foreign-currency reserve ratios required of banks and financing companies, after a month in which the lira was among the world’s worst-performing emerging-markets currencies. The revision announced today is intended to make sure institutions can meet foreign-exchange liabilities. It would […]
Russian sanctions starting to bite into Canadian export outlook – Business – CBC News
Russian sanctions starting to bite into Canadian export outlook – Business – CBC News. Canadian exporters stung by Russia’s currency crisis and its retaliatory sanctions against the West wonder what 2015 will hold for a market filled with promise less than 12 months ago. Companies from farm-equipment manufacturers to pork producers spent much of 2014 […]
Russia says currency crisis over, but inflation set to soar | Reuters
Russia says currency crisis over, but inflation set to soar | Reuters. (Reuters) – Russia said its currency crisis was over on Thursday but warned that inflation is set to climb above 10 percent, adding to the problems facing President Vladimir Putin’s government as it fights its worst economic crisis since 1998. The ruble plunged to all-time […]
Belarus In Full-Blown Hyperinflation Panic: Blocks News, Online Stores; Bans All FX Trading For 2 Years | Zero Hedge
Belarus In Full-Blown Hyperinflation Panic: Blocks News, Online Stores; Bans All FX Trading For 2 Years | Zero Hedge. “We have to do something with these Belarussian rubles,” exclaims one Belarussian as she shops to turn worthless rubles (BYR) into physical assets. As AFP reports, The Belarussian currency was dragged down by the slide of the Russian ruble […]
China pledges to help Russia overcome economic hardships — RT News
China pledges to help Russia overcome economic hardships — RT News. China’s foreign minister has pledged support to Russia as it faces an economic downturn due to sanctions and a drop in oil prices. Boosting trade in yuan is a solution proposed by Beijing’s commerce minister. “Russia has the capability and the wisdom to overcome […]
Slumping Russian ruble threatens German economy – top exec — RT News
Slumping Russian ruble threatens German economy – top exec — RT News. German companies doing business with Russia are suffering from the weak ruble, as one in three companies will have to fire employees or cancel its projects, the managing director of the Association of German Chambers of Industry and Commerce warned. “The crisis of […]
China proposes broadening use of Yuan for trade with Russia: report | Reuters
China proposes broadening use of Yuan for trade with Russia: report | Reuters. (Reuters) – China’s trade minister proposed more use of China’s currency in settling trade with Russia in the face of a falling rouble to ensure safe and reliable trade, Hong Kong broadcaster Phoenix TV reported on Saturday. The rouble has fallen about 45 percent […]
BBC News – Belarus imposes duty on foreign currency purchases
BBC News – Belarus imposes duty on foreign currency purchases. Belarus’s central bank has introduced a 30% duty on all purchases of foreign currency to try to protect its rouble. Belarusian exporters will also be required to convert more of their overseas earnings into local currency. The country is feeling the effects of the fall […]
Russia’s parliament rushes through bill boosting banking capital | Reuters
Russia’s parliament rushes through bill boosting banking capital | Reuters. (Reuters) – Russia’s lower house of parliament passed a draft law that would give the banking sector a capital boost of up to 1 trillion rubles ($16.5 billion) on Friday, part of measures to shieldbanks from Western economic sanctions. Russia’s financial sector is reeling from the […]
