Renminbi slides past Rmb7 per dollar, Islamic finance special report
Tuesday 6 August 2019 Vol.10 Ed.32.1
Commentary: Renminbi slides past Rmb7 per dollar
By Mark Sobel and David Marsh
David Marsh, chairman and co-founder of OMFIF, interviewed Mark Sobel, OMFIF’s US chairman, on the meaning and consequences of the renminbi falling through Rmb7 per dollar. They discuss President Donald Trump’s latest salvo of tariffs against China and the probable response by Beijing and the People’s Bank of China. The central bank will probably seek to prevent any rapid, volatile or major renminbi decline through the continued implementation of tight capital controls, jawboning, and use other tools at its disposal.
Read the full commentary on the website.
Special report: Islamic finance
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The total value of outstanding sovereign sukuk increased by 42% between 2017-18; the previous year’s increase was 13%. However, while the market has experienced a sevenfold increase over the last decade, it remains a tiny fraction (0.4%) of the global fixed income market, underlining its massive growth potential.
Malaysia still propels the international sukuk market, accounting for more than half of total sukuk outstanding. Saudi Arabia, the US and Indonesia follow, making up 37% of the market.
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