Iran lawmakers fire finance minister as economic woes mount
The country’s parliament voted Sunday to fire the country’s finance minister amidst the economic turbulence caused by America’s withdrawal from the nuclear deal...
Tag : devaluation
China central bank renews its support of Yuan amid dispute
The country is stepping up its efforts to stem the yuan’s rapid depreciation in a policy shift intended to fend off US criticism of Beijings weakening of its currency in the ongoing trade dispute...
Post-Brexit, Middle East property investors eyeing UK
Deterioration in the value of the pound sterling has reduced property prices in London Suparna Goswami Bhattacharya July 6, 2016: Britain’s historic decision to leave the EU has sparked a period of volatility across the world’s financial markets. The pound sank to multi year lows against the dollar. David Cameron’s decision to step down has...
Did China just float the yuan?
Sort of… People’s Bank of China announced a significant liberalisation of the yuan’s exchange rate regime John J Hardy August 14, 2015: The People’s Bank of China devalued the Chinese yuan overnight by almost 2% and announced a significant liberalisation of the yuan’s exchange rate regime, a move that has roiled currency and asset markets...