Tag: Currencies

World

Depreciating Currencies: What Follows Kazakh Tenge?

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Another commodity currency under pressure: the Kazakh tenge. Are we having an Asian financial crisis flashback? It certainly seems so to me with emerging markets being …

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Lose $51B? No Big Deal for Swiss Central Bank

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Buy euros (EUR) and sell Swiss francs (CHF): that was what the Swiss National Bank (SNB) was doing until early this year when the cost of …

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The Devil Buys Prada in Brazil Where It's Cheaper

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Prada é mais barato em São Paulo. Arbitrage in buying luxury goods worldwide is something of an interest of mine–and a global hobby for the well-to-do …

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If Yuan Blood, You Got Yuan Devaluation

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1978-vintage AC/DC explains PRC currency moves. Similar to the Swiss unpegging the franc from the euro earlier this year, the Chinese have surprised world markets by …

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IMF: RMB Not Yet Ready as SDR Currency

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IMF says…wait a while longer for RMB SDR inclusion. The PRC has been strongly pushing for the inclusion of the Chinese yuan in the basket of …

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Can You Spare a Quadrillion? Zimbabwean $'s End

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Legal tender not acceptable anywhere; this reality is simply being formalized. It’s the end of an era as Comrade Bob Mugabe’s pipe dream of a currency, …

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Economic Chaos & Venezuela's Inevitable Dollarization

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To paraphrase Henry Ford, you can have any car you like as long as you pay in US dollars. The ultimate insult to any socialist Latin …