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China Prepares To Bailout Russia | Zero Hedge
China Prepares To Bailout Russia | Zero Hedge. Earlier this evening China’s State Administration of Foreign Exchange’s (SAFE) Wang Yungui noted “the impact of the Russian Ruble depreciation was unclear yet, and, as Bloomberg reported, “SAFE is closely watching Ruble’s depreciation and encouraging companies to hedge Ruble risks.” His comments also echoed the ongoing FX reform […]
Will Putin’s Next Step Be To Sell Gold? | Zero Hedge
Will Putin’s Next Step Be To Sell Gold? | Zero Hedge. “Russia is at a critical juncture and given the sanctions placed upon them and the rapid decline in oil prices, they may be forced to dip into their gold reserves, if it happens it will push gold lower.” That is what, according to some people Bloomberg has […]
Western Banks Cut Off Liquidity To Russian Entities | Zero Hedge
Western Banks Cut Off Liquidity To Russian Entities | Zero Hedge. As Zero Hedge first reported today, shortly before noon one (and subsequently more) FX brokers advised clients that any existing Ruble positions would be forcibly closed out because “western banks have stopped pricing USDRUB“, over concerns of Russian capital controls. Ironically, it was this forced liquidation […]
Hedge Fund Manager Who Remembers 1998 Rout Says Prepare for Pain – Bloomberg
Hedge Fund Manager Who Remembers 1998 Rout Says Prepare for Pain – Bloomberg. Stephen Jen landed in Hong Kong in early January 1997 as Morgan Stanley’s newly minted exchange-rate strategist for Asia. He was soon working around the clock when investors began targeting the region’s currency pegs, first felling Thailand’s in July. The rout spread through Asia before […]
Russia Prepares For GDP Surge As Consumers Scramble To Spend Their Plunging Rubles | Zero Hedge
Russia Prepares For GDP Surge As Consumers Scramble To Spend Their Plunging Rubles | Zero Hedge. In the most ironic twist of all amid the “currency crisis” enveloping Russia, we suspect the world’s central bankers will be looking on jealously as The CBR manages to achieve precisely what The BoJ and The Fed are desperate to […]
Turmoil Spreads: Ruble Replunges, Crude Craters, Yen Surges, Emerging Markets Tumbling | Zero Hedge
Turmoil Spreads: Ruble Replunges, Crude Craters, Yen Surges, Emerging Markets Tumbling | Zero Hedge. For those wondering if the CBR’s intervention in the Russian FX market with its shocking emergency rate hike to 17% overnight calmed things, the answer is yes… for about two minutes. The USDRUB indeed tumbled nearly 10% to 59 and then promptly blew right […]
Ruble Freefall: And the Ugliest Currencies Are? | Wolf Street
Ruble Freefall: And the Ugliest Currencies Are? | Wolf Street. The 35% plunge of the price of oil since June and the sanction spiral imposed on Russia are wreaking havoc on the ruble. Oil and gas revenues are crucial to the finances of the Russian government and to the oil-and-gas dominated economy. So the ruble […]
Ukraine Currency Crashes After Senior EU Official Says “The Ukrainians Are Manipulating Us” | Zero Hedge
Ukraine Currency Crashes After Senior EU Official Says “The Ukrainians Are Manipulating Us” | Zero Hedge. The much discussed tumble in the Russian ruble (or as Japan would call it “mission accomplished” if its was the Yen instead of the Ruble) may have stabilized somewhat, and judging by the Russian central bank’s response to no […]
