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RMB in the SDR this month

Weekly investor research

16 November 2015

China’s RMB is set for inclusion in the SDR, the IMF’s reserve currency basket, this month. India responds to election defeat in Bihar by liberalising the regime for Foreign Direct Investment. The market reaction to rumours that Henrique Meirelles could replace Finance Minister Joaquim Levy shows that President Dilma Rousseff still has options. Indonesia prepares to increase bond holdings by pension funds and insurance companies and Turkey’s current account balance turns positive in the latest sign of the dramatic adjustment of external balances in Emerging Markets (EM). In the global backdrop it is déjà vu time; the market is testing the Fed’s commitment to its declared intention of hiking rates in December by pushing down stocks and pushing up the US dollar. Japan enters recession.

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