Thoughts on China's Gold Fix

Edit Real Clear Politics 20 Apr 2016
Earlier today, China launched its first gold fix. It will offer a fixing twice a day going forward in yuan. The Shanghai Gold Exchange established the fix the same way it is done in London and New York, by prices submitted by financial institutions ... China recently announced it would measure the yuan's value in terms of a special trade-weighted basket (of fiat currencies) and the IMF's Special Drawing Right (SDR) ... This was a game changer....

Bailouts Are Big in the Middle East This Season

Edit Bloomberg 19 Apr 2016
The International Monetary Fund has never been busier in the Middle East ... Here’s a guide to who wants what.Iraq ... Tunisia. Seeking Employment ... Malhas said he expected to reach an agreement worth as much as 600 million special drawing rights ($845 million) with the IMF in May ... But he also urged El-Sisi to embrace economic reforms as a condition for financial help, and raised what he described as Egypt’s “worrying” human rights situation ... ....

China to implement appropriate monetary policy, more forceful fiscal policies

Edit Yahoo Daily News 18 Apr 2016
(Removes one paragraph repeated twice in story). He called for the expanded use of the IMF's Special Drawing Rights (SDR) to resolve flaws in the international currency system and said China is actively studying plans to issue SDR-denominated bonds....

Chinese central bank calls for broadening use of IMF's basket of reserve currencies

Edit China Daily 18 Apr 2016
WASHINGTON - Chinese central bank governor Zhou Xiaochuan on Saturday called for broadening the use of the International Monetary Fund (IMF)'s basket of reserve currencies to advance the reform of the International Monetary System (IMS) ... "The SDR has the potential to resolve the existing deficiencies in the IMS," Zhou said, referring to the Special Drawing Right, an international reserve asset created by the IMF in 1969 ... ....

Forget GDP, China can still derail global markets

Edit Yahoo Daily News 17 Apr 2016
Judging by the reaction of financial markets, traders seem encouraged by the recent round of Chinese economic data, from gross domestic product and exports to industrial production and retail sales ... Boockvar said that if China were to take such a daring step, it could ruin its chances of being accepted into the International Monetary Fund's basket of special drawing rights currencies — IMF-issued reserve assets — in October 2016 ... ....

India's forex reserves rises to $359.75 billion

Edit The Times of India 16 Apr 2016
As an April 8, foreign currency assets stood at $335.84 billion, gold $20.11 billion, special drawing rights $1.5 billion and the reserve position ......

India's forex reserves up at $359.91 bn

Edit Yahoo Daily News 16 Apr 2016
As an April 8, foreign currency assets stood at $335.84 billion, gold $20.11 billion, special drawing rights $1.5 billion and the reserve position with ......

India looks to corner China for blocking UN ban on Masood Azhar

Edit The Times of India 16 Apr 2016
As an April 8, foreign currency assets stood at $335.84 billion, gold $20.11 billion, special drawing rights $1.5 billion and the reserve position ......

Forex reserves hit record high at $359.917 bn

Edit Yahoo Daily News 16 Apr 2016
The central bank data show that in the week-ended April 8, India's forex reserves rose by $157.40 million from the previous week ... Special drawing rights (SDR) from the International Monetary Fund fell by $0.90 million from the previous week to $1.501 billion ... ....

IMF Panel Calls for `More Forceful' Policies to Boost Growth

Edit Bloomberg 16 Apr 2016
In nods to emerging markets, the IMFC said the fund will discuss the reporting of official reserves in Special Drawing Rights, the IMF reserve-currency unit of account that’s adding China’s yuan to its basket this year. In addition, the IMFC said the fund’s next review of voting shares should be completed by late 2017, and should increase the power of emerging market and developing countries ... lawmakers ... ....

Life time peak: Forex reserves at record high, just under $360 billion

Edit The Times of India 15 Apr 2016
The massive rise in the forex kitty comes even as the country's special drawing rights with the International Monetary Fund declined by $0.9 million to $1.501 billion and the reserve position dipped by $1 million ......

Communiqué: G20 Finance Ministers and Central Bank Governors Meeting (IMF - International Monetary Fund)

Edit Public Technologies 15 Apr 2016
(Source. IMF - International Monetary Fund) Washington D.C. April 14-15, 2016. 1. The global recovery continues and the financial markets have recovered most of the ground lost earlier in the year since our February meeting in Shanghai ... 2 ... We will consult closely on exchange markets ... 3 ... 4 ... 5 ... We will discuss the size of the Special Drawing Rights (SDR) during the 11th Basic Period of SDR and reporting official reserves in SDR ... 6 ... 7 ... 8 ... 9 ... 10 ... 11 ... 12....

IMF pledges more support to spur global growth in 2016

Edit Yahoo Daily News 14 Apr 2016
Among reforms to be considered will be a greater use of its Special Drawing Rights, the Fund's unit of account, which will include the Chinese yuan later this year in its basket of currencies....
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