By Mark Sobel in Washington
Since early April, the renminbi has fallen 10% against the dollar, largely reflecting dollar strength. The causes lie in the cyclical and monetary policy divergence between the US and China. However, there is an alignment of interests. Both want to pursue their domestic economic agendas without the complications of a falling renminbi. This could create an opening for unexpected co-operative action by the US Treasury and the People’s Bank of China – a joint foreign exchange intervention operation to strengthen the renminbi.
Read the full commentary on the website.
The Absa Africa Financial Markets Index, produced by OMFIF, provides a toolkit for countries seeking to strengthen their financial markets infrastructure. It tracks progress on financial market developments annually across a range of countries and indicators.
This year’s edition extends coverage to three additional countries – Angola, Cameroon and Senegal – and pays special attention to policies to enhance market growth, including financial inclusion and investor education.
Download the report.