'Thus, looking at the real effective exchange rate, the peso gained external price competitiveness against its trading partners due to the combined effects of the peso's nominal depreciation and lower consumer prices against these currency baskets
,' according to Espenilla.
FTSE, the global index provider, and Curex Group, a developer of intellectual property and technologies that link institutional foreign exchange with global capital markets, have gone into partnership to launch the FTSE Curex FX Index Series - a new range of independently calculated, 24/5 streaming, executable spot FX benchmark FIX for currency pairs and currency baskets
Tripoli, June 1 (ANI): Goldman Sachs had reportedly offered Libyan officials a huge chunk of the firm's shares after it lost its investments in bank trades and currency baskets
, it has emerged.
Although equation 1 should be appropriate for estimating the currency baskets
, it is also subject to possible drawbacks, which have been ignored in the previous literature.
There is a large literature on the structure of the East Asian currency baskets
. (15) The basket composition proposed by Williamson is straight forward: the dollar should have a weighting of 40.2 per cent, the euro of 31.6 per cent, and yen 28.2 per cent.
The UAE appealed last week for Saudi Arabia and its neighbours to swap their dollar pegs for currency baskets
In November, Suweidi had called for Gulf Arab states to sever their dollar links and start tracking currency baskets
including the euro to fight inflation.
The UAE called last month for all Gulf oil producers to switch from fixed exchange rates to currency baskets
But some investment banks, including Standard Chartered and Deutsche Bank, expect the UAE and Qatar will sever their dollar pegs and start tracking currency baskets
as early as this year.
Both Qatar and the UAE are likely to drop their pegs to the US dollar this year and track currency baskets
, as Kuwait did last May, Deutsche Bank said earlier.