Louisiana Light • 2 days | 85.15 | -1.06 | -1.23% | |||
Bonny Light • 2 days | 87.76 | -0.66 | -0.75% | |||
Opec Basket • 2 days | 84.98 | -0.94 | -1.09% | |||
Mars US • 146 days | 77.67 | -1.57 | -1.98% | |||
Gasoline • 10 mins | 2.760 | +0.075 | +2.79% |
Bonny Light • 2 days | 87.76 | -0.66 | -0.75% | |||
Girassol • 2 days | 87.46 | -0.69 | -0.78% | |||
Opec Basket • 2 days | 84.98 | -0.94 | -1.09% |
Peace Sour • 4 hours | 74.10 | -0.27 | -0.36% | |||
Light Sour Blend • 4 hours | 73.60 | -0.27 | -0.37% | |||
Syncrude Sweet Premium • 4 hours | 82.35 | -0.27 | -0.33% | |||
Central Alberta • 4 hours | 74.00 | -0.27 | -0.36% |
Eagle Ford • 2 days | 77.83 | -0.27 | -0.35% | |||
Oklahoma Sweet • 2 days | 78.00 | +0.00 | +0.00% | |||
Kansas Common • 3 days | 71.75 | -0.50 | -0.69% | |||
Buena Vista • 4 days | 85.65 | +1.02 | +1.21% |
A group of warships from…
The U.S. government is investing…
Editorial Dept
Once again we are seeing articles and research papers stating the Chinese renminbi (yuan) is about to replace the dollar as the global reserve currency.
Here is a working paper by Arvind Subramanian and Martin Kessler at the Peterson Institute of International Economics stating The Renminbi Bloc is Here: Asia Down, Rest of the World to Go?.
A country’s rise to economic dominance tends to be accompanied by its currency becoming a reference point, with other currencies tracking it implicitly or explicitly. For a sample comprising emerging market economies, we show that in the last two years, the renminbi (RMB) has increasingly become a reference currency which we define as one which exhibits a high degree of co-movement (CMC) with other currencies. In East Asia, there is already a RMB bloc, because the RMB has become the dominant reference currency, eclipsing the dollar, which is a historic development.
Click here to read the full article.
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