Floating currencies – Last Jeudi http://lastjeudi.org/ Sat, 02 Jul 2022 06:27:13 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://lastjeudi.org/wp-content/uploads/2021/03/cropped-icon-1-32x32.png Floating currencies – Last Jeudi http://lastjeudi.org/ 32 32 Best bond ETFs in 1H22 https://lastjeudi.org/best-bond-etfs-in-1h22/ Fri, 01 Jul 2022 17:06:00 +0000 https://lastjeudi.org/best-bond-etfs-in-1h22/ RWorries about rising rates are gripping the world, again paralyzing the investment scenario with uncertainty. Volatility could become the name of the game thanks to a multitude of factors ranging from rising inflation in the United States and other parts of the developed world, to fears of a slowdown in China and the resulting pressure. […]]]>

RWorries about rising rates are gripping the world, again paralyzing the investment scenario with uncertainty. Volatility could become the name of the game thanks to a multitude of factors ranging from rising inflation in the United States and other parts of the developed world, to fears of a slowdown in China and the resulting pressure. results on supply chain and global growth, and geopolitical issues.

While concerns about rising rates have prevailed with the Fed raising rates faster this year, bond and equity investments are taking a hit. The Fed decreed a 75bp rate hike at the end of last week. The rate hike was the largest since 1994. The result is slower economic growth. In total, the Fed has decreed a rate hike of 150 basis points so far this year.

The inflation projection has been raised for this year, while the Fed expects inflation to subside in 2023 and 2024. The fed funds rate is expected to be 3.4% for 2022 from 1.9 % in March, 3.8% for 2023 against 2.8% and 3.4%. % for 2024 of 2.8%. No wonder the S&P 500 and Nasdaq entered a bear market this year.

Since bond rates and prices are inversely related, bond ETFs have fallen this year. iShares 20+ Year Treasury Bond ETF TLT is down 24% in 2022, while iShares Short Term Treasury Bond ETF The SHV is only down 0.3%. Still, some interest-protected bonds have managed to fare better than regular bond ETFs. Against this backdrop, we highlight a few fixed income ETFs that have gained this year below.

Focus on ETFs

FolioBeyond Rising ETF Rates RISR – Up 31.2%

RISR invests primarily in mortgage-backed securities (MBS IO) and US Treasury bills.

WisdomTree Floating Rate Cash Fund USFR – Up 0.5%

The underlying Bloomberg US Treasury Floating Rate Bond Index is a rules-based, market value-weighted index designed to measure the performance of floating rate US Treasury bonds.

iShares Floating Rate Treasury Bond ETF (TFLO) – Up 0.4%

The underlying Bloomberg US Treasury Floating Rate Index is a market capitalization-weighted index that measures the performance of US Treasury floating rate government bonds.

ClearShares Ultra-Short Maturity ETF OPER – Up 0.2%

The ClearShares Ultra-Short Maturity ETF is an actively managed portfolio that seeks current income by investing in repurchase agreements, collateralized US government securities and other fixed income instruments.

iShares 0-3 Month Treasury Bond ETF SGOV – up 0.2%

The underlying ICE 0-3 Month US Treasury Securities Index is composed of US Treasury bonds with residual maturities of three months or less.

iShares iBonds 2022 Term High Yield & Income ETF IBHB – Up 0.1%

The underlying Bloomberg 2022 Term High Yield and Income Index includes US dollar-denominated corporate, high yield and other income-generating bonds maturing in 2022 (read: Time for cash ETFs?).

SPDR Bloomberg 1-3 Month T-Bill ETF BIL – Increase of 0.1%

The underlying Bloomberg 1-3 Month US Treasury Bill Index includes all publicly issued zero-coupon US Treasury bills that have a residual maturity of less than 3 months and greater than 1 month, are rated investment grade and have $250 million or more outstanding. face value.

Invesco VRDO Tax Free ETF PVI – Up 0.06%

The underlying ICE US Municipal AMT-Free VRDO Constrained Index tracks the performance of US dollar tax-exempt VRDOs publicly issued by US states and territories and their political subdivisions, and whose interest rates reset daily, weekly or monthly.

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iShares 20 Year Treasury Bond ETF (TLT): ETF Research Reports

iShares Short Treasury Bond ETF (SHV): ETF Research Reports

Invesco VRDO TaxFree ETF (PVI): ETF Research Reports

SPDR Bloomberg 13 Month TBill ETF (BIL): ETF Research Reports

WisdomTree Floating Rate Cash ETF (USFR): ETF Research Reports

ClearShares UltraShort Maturity ETF (OPER): ETF Research Reports

iShares iBonds 2022 Term High Yield and Income ETF (IBHB): ETF Research Reports

iShares 03 Month Treasury Bond ETF (SGOV): ETF Research Reports

ETF FolioBeyond Rising Rates (RISR): ETF Research Reports

To read this article on Zacks.com, click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Why Bill Murray Makes Ethereum NFTs On His Life https://lastjeudi.org/why-bill-murray-makes-ethereum-nfts-on-his-life/ Wed, 22 Jun 2022 19:47:24 +0000 https://lastjeudi.org/why-bill-murray-makes-ethereum-nfts-on-his-life/ In short Actor Bill Murray will launch an Ethereum NFT project in July. NFTs include artwork, stories from his life and career, and access to events and a Discord community. Bill Murray has a lot of stories – and there are a lot of stories about Bill Murray. Some stem from the actor’s nearly five-decade […]]]>

In short

  • Actor Bill Murray will launch an Ethereum NFT project in July.
  • NFTs include artwork, stories from his life and career, and access to events and a Discord community.

Bill Murray has a lot of stories – and there are a lot of stories about Bill Murray.

Some stem from the actor’s nearly five-decade entertainment career, from “Saturday Night Live” to movies like “Ghostbusters” and “Caddyshack,” and his relationships with other comedic legends. Others are stories about the 71-year-old man and his propensity to, for example, plant random marriages Where steal people’s fries.

Come July 15, some of these stories and more will be available for purchase like NFT via The Bill Murray 1,000, an Ethereum project from the comedy and entertainment website Chives and start of the blockchain Venkman Project. The project will feature up to 1,000 NFT collectibles based on 100 stories from Murray’s career.

Each NFT is based on a single original painting of Murray by David Grizzle, then given unique backgrounds and flourishes to set them apart from each other. But beyond the art itself, each NFT tells one of the stories with text and images.

Ahead of a panel at the NFT NYC convention today, Bill’s son Jackson Murray, The Chive co-founder and chairman John Resig and Project Venkman co-founder and CEO Gavin Gillas spoke with Decrypt on how the project came about, Bill’s interest in NFTs, and the benefits that come with collecting.

Murray is a longtime supporter of The Chive, which was founded in 2008, and the company has produced Murray-themed t-shirts, as well as its William Murray Golf clothing line.

“We got into this ‘what’s next’ period of Bill Murray’s imaging license, and I said, ‘It’s definitely NFTs,'” Resig said. Decrypt. “And Bill said, ‘It’s definitely not NFTs. “”

One of the NFT stories in The Bill Murray 1,000. Image: Chives

Jackson Murray said his father called shortly after that first NFT conversation with Resig, asking about cryptocurrency and NFTs. According to Jackson, the concept didn’t initially stick with his father, but the actor saw the potential of immutable digital objects.

“Once he had that idea, it kind of piqued his interest,” Jackson said.

However, Bill Murray didn’t like generative artwork – things like the popular Bored Ape Yacht Club and CryptoPunks, which mix and match traits to create thousands of unique profile pictures. An NFT is a blockchain token that serves as proof of ownership and can represent works of art, collectibles, access to communities, etc.

Instead, Jackson said Decrypt, his dad liked the idea of ​​a pass that provides access and incentives, including future in-person events where NFT holders can meet and interact with him. On top of that, a blockchain allows Murray and his family to verify these urban legend tales by pointing to NFTs.

“I get asked all the time, ‘Is this story real? Is this a real thing that happened? Jackson explained. “[The NFTs are] a vehicle for me, then [Bill] also, I am sure, to answer these questions without having to repeat the same story nine times in a row.

From left to right: John Resig, Jackson Murray and Gavin Gillas. Image: Decrypt

However, NFTs are not live yet. Jackson therefore verified one of the most famous stories about his father, namely that Bill Murray uses a 1-800 number to screen calls. The actor, who has no agent or manager, apparently also used the number for his family.

“The 1-800 number is totally real,” Jackson explained to Decrypt. “When I was a kid, my dad is out of the country, you call the 1-800 number, you leave a voicemail and he calls you back within a few business days. And then you go from there.

“I hope you answer this call,” he added. “Otherwise it’s a secondary call to the 1-800 number.”

Focused on fun

We haven’t seen a shortage of celebrity NFT projects as the market surged to $25 billion in trading volume last year. However, Bill Murray is no conventional celebrity, and this is no conventional NFT drop. Resig wanted to share the actor’s story, but Murray didn’t want to write a book.

“Writing an autobiography kind of confirms that you’re done creating new parts of the story,” Jackson said of his father. “It’s just not on the table.”

With NFTs, collaborators saw a way to tap into curiosity around Murray’s life, career, and unique interactions with fans, which has already spawned an unofficial documentary film– while creating a community of collectors who can participate in future events and activities with Murray himself.

According to Resig, The Chive will host at least two events per year for NFT holders. He wouldn’t share many details about the events, but said people will be able to meet and interact with Murray at the events, and the events will continue for years to come. NFT holders also have access to a private Discord community.

Additionally, the original purchaser of each NFT will receive an engraved silver coin that features the same edition number and serves as a pass to The Chive’s annual Gold, Silver and Black Dinner in Austin, TX. Buyers can sell the NFTs through secondary markets but keep the coin, if they wish, as the token and the coin offer distinct ongoing benefits.

The 100 total stories represented in the NFT Collection were culled from conversations with Murray as well as existing material, and each was ultimately reviewed and approved by Murray himself. The team shared video footage of Murray discussing stories and adding notes to written text, and Decrypt saw the physical drafts that Murray annotated and reviewed.

A page with handwritten annotations by Bill Murray. Image: Decrypt

Murray added various details to a story about meeting gonzo reporter Hunter S. Thompson after the actor’s first season of “Saturday Night Live,” for example, and discussed his rocky relationship with the late actor and director. Harold Ramis. Additionally, Murray is apparently a fan of farm-fresh eggs and provided the NFT with information about his local egg dealer.

Ethereum NFTs will be launched on NFT Coinbase on July 15 and sell for 1.5 ETH each, or around $1,620 currently. The first 100 NFTs will roll out on that date, with the rest to be released in installments later this year. Even though Coinbase NFT apparently has had a slow start since launchGillas said they “wanted to bet long term” on Coinbase’s outlook.

In addition, there are several charitable components. David Grizzle’s original artwork will be auctioned after the launch of NFT, with all proceeds going to The Chive’s “Chive Charities”. On top of that, Resig said a “very healthy portion” of the proceeds from Project NFT’s community incentive pool will go to several charities chosen by Murray.

Every first NFT buyer will receive an engraved silver coin. Image: Decrypt

The Bill Murray 1,000 Project stems in part from Project Venkman, a startup that Murray co-owns and spun off from The Chive, and is named after his “Ghostbusters” character, Peter Venkman.

The Venkman Project is primarily aimed at helping companies adopt blockchain networks for rewards and membership programs, and uses Spotted for these initiatives rather than Ethereum. It could be a drier or more technical application of the technology, as the creators say Project Murray is all about entertainment and community.

“Bill had a mandate: everything we do should be fun,” Resig said. “If it’s not fun, he’ll sound the alarm. He says, ‘By the way, that’s cool, maybe. But it’s not fun. So he doesn’t want to do it. If it’s not fun, it’s not for him.

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Philippine Peso Slips Even More: Now Pay Php54 For $1 https://lastjeudi.org/philippine-peso-slips-even-more-now-pay-php54-for-1/ Mon, 20 Jun 2022 10:06:21 +0000 https://lastjeudi.org/philippine-peso-slips-even-more-now-pay-php54-for-1/ Manila: Ahead of a central bank rate decision meeting this week, the Philippine peso hit a fresh multi-year low at Php54.010 against $1 (09:00 UTC) on Monday, from Php53.69 on Friday June 17. ). Central bank data showed the peso slipping to Php53.50 (buy rate) against the US dollar; it was selling dollars for Php54.00 […]]]>

Manila: Ahead of a central bank rate decision meeting this week, the Philippine peso hit a fresh multi-year low at Php54.010 against $1 (09:00 UTC) on Monday, from Php53.69 on Friday June 17. ).

Central bank data showed the peso slipping to Php53.50 (buy rate) against the US dollar; it was selling dollars for Php54.00 on Monday. The UAE dirham stood at Php14.52 on Monday.

The latest gold|forex rates are here.

The Asian currency fell to its lowest level in more than three and a half years.

The peso led the losses on Monday with its 0.5% drop that dragged the currency to its lowest since October 2018.

Other Asian currencies traded mixed amid recession fears.

Bangko Sentral ng Pilipinas (BSP), the country’s central monetary authority, is expected to decide on possible rate hikes this year to curb rising inflation, following a recent decision by the US Federal Reserve, which led to a chorus of rate hike decisions from most central banks.

Felipe Medalla, the new BSP governor, has officially called for at least two rate hikes this year.

It also left room for further policy rate hikes due to high inflation and a higher-than-expected balance of payments (BOP) deficit.

“Floating” rates will increase

Higher interest rates mean higher borrowing costs for businesses as well as auto and home loans. Mortgages based on “floating” rates could also increase.

The central monetary authority of the Philippines is expected to make a policy decision on rates on Wednesday. The meeting is currently the focus of market analysts who are keeping a close eye on the country’s current account balance, which is expected to see larger deficits in 2022 and 2023 than initially forecast.

Depending on the rate hike, the peso could see further weakness due to the greater impact of higher oil prices, which the Philippines depends on imports, analysts said.

Meanwhile, the growing trade deficit will continue to put downward pressure on the currency.

Recession fears: what a higher balance of payments deficit means

The peso has fallen nearly 11% over the past 12 months against the US dollar.

Amid the falling peso and external risks, the Philippines’ central bank said on Friday it expects the country’s current account balance (balance of payments, BOP) to post deficits in 2022 and 2023. than previously expected.

A balance of payments deficit means that the country imports more goods, services and capital than it exports.

By implication, it must borrow from other countries to pay (in US dollars) for its imports, thus increasing the demand for US currency.

For 2023, the current account deficit is expected to reach $20.5 billion, or 4.4 percent of GDP, higher than the previous projection of $17.1 billion, or 3.7 percent of GDP.

Philippine loan rates

The Overnight Lending Facility (OLF) rate stood at 2.75% on Monday, June 20, up 0.25% from a year ago, according to BSP data.

The overnight deposit facility, meanwhile, rose 0.25% today to 1.75% from year-ago levels (1.50%).

Friday, the Philippine Dealing system, the central clearing house of the country, recorded 962.5 million dollars of foreign exchange transactions, against 1.141 billion dollars the previous one.

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Rupee against USD before and after 2014 https://lastjeudi.org/rupee-against-usd-before-and-after-2014/ Sat, 18 Jun 2022 10:30:28 +0000 https://lastjeudi.org/rupee-against-usd-before-and-after-2014/ Rupee against USD before and after 2014 The Indian Rupee experienced a drop in the last quarter of 2014. The fall was mainly due to the depreciation of the Indian currency. However, even after this decline, it is still collectively considered the strongest currency in Asia, along with China and Japan. In comparison, American dollars […]]]>

Rupee against USD before and after 2014

The Indian Rupee experienced a drop in the last quarter of 2014. The fall was mainly due to the depreciation of the Indian currency. However, even after this decline, it is still collectively considered the strongest currency in Asia, along with China and Japan. In comparison, American dollars is considered one of the weakest currencies in Asia and the world.

In the first quarter of 2014, the exchange rate between the US dollar and the Indian currency was 57.6 rupees for 1 US dollar. It later depreciated by 8% and closed at Rs 60.8 per USD in June 2014. The depreciation accelerated after mid-July when it led to Rs 68 and reached a high of Rs 68.7 for 1 USD in October. 2014, marking a 15% depreciation against the American currency over a period of 3 months (July – October).

The currency reached its peak depreciation of 22.5% in December 2014, when it hit 74 rupees per US dollar. The depreciation was not sudden but gradual and stable, with the value of the Indian rupee rising slightly towards the end of the month. The depreciation could have been higher, but the intervention of the Reserve Bank of India after mid-September and its decision to maintain a stable and aggressive exchange rate led to a slight depreciation of almost 8% in the last quarter of 2014 .

The Indian rupee had been admired by nearly 25% in 2013 against the US dollar, rising from a low of 55 rupees in January 2013 to a high of 55.5 rupees in December 2013. On April 7, 2014, the Indian rupee closed at a record high of Rs. 61.26 per dollar, against its previous high of 61. back to its previous levels with an appreciation of around 3%.

The rupee fell 1.6% against the US dollar in November 2014 and another 1.8% in December 2014. The rupee closed at 62.32 rupees on December 23, 2014, giving an 8% appreciation to Indian currency against the US dollar during November 2014. In comparison, the Dollar Index, which tracks the US dollar against a basket of other currencies, rose 1.4% over the same period. Thus, in December 2014, the Indian rupee was valued 3% against other major currencies and 8% against the US dollar in November 2014.

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The Indian rupee experienced a memorable appreciation in the last quarter of 2014. The Indian rupee gained 1.5% against the US dollar in October 2014 and 3.2% in November 2014, putting it at its highest levels for the two months since January 2008. The rupiah’s gains were maintained and even intensified in December, when it appreciated a further 2.0% against the US dollar.

The rupee closed at a record high of 62.9 per US$1 on December 6, 2014, its highest level since January 2, 2008. One of the main reasons for this appreciation is the strength of the Indian economy, which rebounded on the back of soaring stock indices and trade data, coupled with increased demand for export-oriented Indian IT services worldwide. RBI policy rates remained unchanged at 7.

During the last quarter of 2014, the Indian rupee saw a significant decline from its all-time highs as it depreciated by nearly 10% in this period alone. The rupee had closed at 62.59 to the US dollar on September 5, 2014, the highest level for that month since January 2008. The rupee’s depreciation began in the last quarter of 2014. It continued until December until it hit a low of 70.83 on December 28, 2014, nearly 30% depreciation against the USD since September 2014.

In November 2014, the dollar appreciated by almost 2% against the main currencies, with the exception of the rupee. This is mainly due to the interest rate hike by the US Fed and also because the view of the global market is still not very positive. In September, the dollar index weakened by about 5% as Fed Chair Janet Yellen said the Fed would not raise interest rates until 2015. The dollar index, which measures the strength of the dollar against the other six major currencies, closed at 80.46 on December 28. 2014, which was 1.

India is a net importer of oil and the country imports almost 80% of its crude oil needs. The Indian rupee has depreciated sharply in recent months, which has increased the oil import bill by more than 20% compared to a year ago. The Indian currency hit its all-time low against the dollar on July 29, 2013. It touched 69.13, down 18% since then, changing hands at around Rs 65 to the dollar.

The Indian Rupee is traded in two ways throughout the day. First, it is traded in the interbank market known as “spot market” where traders buy and sell rupees against other currencies, while second, it is traded in the “contract market” where traders buy and sell rupees. rupees against themselves. However, only exporters can trade in rupees through the “spot market”.

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The Reserve Bank of India offers a free email newsletter on its website to keep people well informed about its interest rates, exchange rate strategy, and different other developments that affect the value of money. The rupee is structurally called not in a local currency but in the Indian currency. Thus, the value of the rupee (in terms of the “national” currency) depends on the strength or weakness of the respective national currency against which it is exchanged. The Bank issues new banknotes each year to meet demand, and there is also a series of banknotes that are no longer in circulation.

The Indian Rupee is also used in some overseas markets. For example, the US dollar is also used to value Indian exports and imports when they are traded in the international market against the currencies of other countries. Trade between nations is represented by the total value of exports and imports. This combined perimeter is called the trade balance. The chart shows a strong correlation between exports and the value of the rupee against the US dollar, which means that if the rupee depreciates against the dollar, exports will increase and if the rupee appreciates, exports will decrease.

HISTORY OF THE INDIAN RUPE

First of all, the currency used in India was of English origin. They were called “East India Company Rupee”. After its independence in 1947, India followed the British monetary system. The value of a rupee was only one shilling and sixpence (1s 6d) until 1950, and it was adopted as 100 naye paise in 1953. In 1964 decimalisation (in terms of law) was took place and introduced a new currency with denominations up to 10,000.

In 1971, an amendment to the law was made and the Indian currency was converted into five new coins and two new notes of 5,000 paise and 1,000 paise. In 1978 a new legal system was introduced introducing a new series of coins and notes with denominations of 1, 2, 5 and 10 as well as 100 paise. A set of smaller denomination coins (1/2p, 1p and 2p) were also introduced between 1981 and 1982.

A currency board is a monetary system based on the value of local currency against the US dollar. The Indian rupee is a de jure currency board, as it is fixed and pegged to the US dollar at a rate of Rs1=$1. Recently there have been calls for the abolition of this arrangement and the introduction of a floating exchange rate regime for the Indian currency as well as other countries in Asia and beyond.

The Indian Rupee (INR) is the official currency of the Republic of India. It is the seventh most traded currency in the world and the third reserve currency in circulation, accounting for 4.7% of total foreign exchange reserves. The value of the Indian rupee was pegged to a basket of currencies that included the US dollar, euro and Japanese yen in 1994–95, to stabilize its exchange rate.

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A currency board (CB) is a monetary system in which the central bank fixes the value of its currency to that of another country’s currency, usually the US dollar. The Indian rupee is a de facto currency board; its fixed value against foreign currencies prevents it from floating freely. India had a tight monetary policy since 1991, when the Indian government pledged to control inflation and maintain an upper limit on the Reserve Bank of India (RBI) interest rate.

Edited by Prakriti Arora

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Only flexible exchange rate will pull Kenya out of currency shock, IMF says https://lastjeudi.org/only-flexible-exchange-rate-will-pull-kenya-out-of-currency-shock-imf-says/ Sun, 12 Jun 2022 21:03:55 +0000 https://lastjeudi.org/only-flexible-exchange-rate-will-pull-kenya-out-of-currency-shock-imf-says/ Economy Only flexible exchange rate will pull Kenya out of currency shock, IMF says Monday, June 13, 2022 Signage at the headquarters of the International Monetary Fund (IMF) in Washington, DC. PICTURES | AFP The International Monetary Fund (IMF) says a flexible exchange rate will help Kenya insulate its economy from the external shocks facing […]]]>

Economy

Only flexible exchange rate will pull Kenya out of currency shock, IMF says


Signage at the headquarters of the International Monetary Fund (IMF) in Washington, DC. PICTURES | AFP

The International Monetary Fund (IMF) says a flexible exchange rate will help Kenya insulate its economy from the external shocks facing its local currency, at a time when it is trading at record highs, stifling supply chains .

The weakening of the Kenyan shilling raised fears that the depreciation could further affect consumer prices.

The shilling hit a new record high against the dollar after weakening to 117.04 on Friday, signaling a continued rise in prices for imported goods like fuel and cooking oil.

If the shilling falls further, the risk is that distressed consumers – already hit hard by steep food and fuel price hikes – will become reluctant ahead of the key 2022 election.

“Kenya’s economy has shown remarkable resilience in very difficult circumstances,” an IMF spokesman said Friday in response to business daily requests.

READ ALSO: The shilling crosses 117 against the dollar

“In this context, a flexible exchange rate is an important shock absorber.”

The Central Bank of Kenya (CBK) maintains that it is committed to a flexible exchange rate regime and will not deviate from this policy despite the weakening of the shilling.

“We are fully committed to a flexible exchange rate regime. We know the benefits of it and we are not deviating from it,” CBK Governor Patrick Njoroge said earlier.

The Central Bank Governor then said that Kenya is committed to maintaining a floating exchange rate, adding that the bank only intervened to smooth excess volatility.

The current ongoing weakening has hit manufacturers who have sounded the alarm over dollar shortages and cited a struggle to settle payments to monitor suppliers on time.

Dr Njoroge recently downplayed the level of depreciation and disputed claims about dollar supply constraints.

The IMF said on Friday it would continue to provide financial support to Kenya through its regularly reviewed Extended Financing Facility and Extended Credit Facility programs agreed with Kenya previously.

Kenya has not applied for a short-term liquidity line created in 2020 to help member countries with strong fundamentals weather the novel coronavirus pandemic, the IMF added.

“The IMF is supporting Kenya under the ongoing EFF/ECF arrangements. At the next review, which is expected to be completed this summer, Kenya would have access to about $244 million (28.5 billion shillings),” the IMF said.

“No access requests have been made under the SLL and the SLL is not designed to operate concurrently with other IMF-supported programs.”

The Kenya Association of Manufacturers (KAM) said in April that its members had faced strained relations with suppliers due to dollar liquidity in the market, at a time when competition for raw materials has increased. intensified globally due to rising demand amid continued supply chain constraints.

READ ALSO: Dollar Shortage Triggers Parallel Exchange Rates

The Kenyan currency has suffered from the strengthening of the US dollar which has appreciated by 6.8% since the beginning of the year, following recent rate hikes which have made the greenback a safe haven for investors amid a difficult environment. Global uncertainties following Russia’s invasion of Ukraine, analysts said. .

The central bank’s monetary policy committee adopted a tightening stance in May, raising its key interest rate for the first time in nearly seven years to anchor inflation expectations amid concerns over commodity prices raw increase.

The monetary policy committee raised the rate by 50 basis points to 7.5%.

[email protected]

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Trevor Gerszt: Gold versus the Dollar: The Fight of the Century https://lastjeudi.org/trevor-gerszt-gold-versus-the-dollar-the-fight-of-the-century/ Thu, 09 Jun 2022 18:12:00 +0000 https://lastjeudi.org/trevor-gerszt-gold-versus-the-dollar-the-fight-of-the-century/ For thousands of years, gold was money. Whether it took the form of coins used for commercial transactions or bullion used as stores of wealth, gold was the ultimate monetary asset. Paper currencies came and went over the millennia, as did subsidiary coins made of silver, copper, or whatever metal the rulers liked. Through it […]]]>

For thousands of years, gold was money. Whether it took the form of coins used for commercial transactions or bullion used as stores of wealth, gold was the ultimate monetary asset. Paper currencies came and went over the millennia, as did subsidiary coins made of silver, copper, or whatever metal the rulers liked. Through it all, gold has remained a constant.

The golden age of the classic gold standard lasted only about a century, from the early 1800s to the early days of World War I. Its peak coincided with some of the greatest advances in productivity and living standards the world has ever seen. But when the war started in 1914, the warring countries realized that the gold standard was inhibiting their ability to finance fighting, and so the gold standard was unceremoniously abolished.

A gold exchange standard was established after World War I, but it failed miserably, and it was not until after the Great Depression and World War II that the international monetary system began to regain a stable footing.

By then, the US dollar had become the dominant currency in the world, and its residual support in gold gave the dollar an aura of stability. While U.S. citizens were prohibited from owning gold, foreign nations could exchange their dollars for gold at the U.S. Treasury Gold Window.

Most nations didn’t bother to take advantage of this privilege, at least until the US government began to take advantage of the dollar’s position as the world’s primary reserve currency to create more dollars than he had no gold. European nationals started to take notice and gold started flowing out of the United States.

Rather than risk a complete depletion of American gold reserves, President Nixon closed the golden window in 1971, removing the last official link between the dollar and gold. Since then, gold and the dollar have been floating freely in international markets.

While many economists believed at the time that severing the relationship between the dollar and gold would relegate gold to the dustbin of history, the “barbaric relic” did the exact opposite. In many ways, gold is now stronger than ever, and in the long run it could end up reasserting its position as the world’s primary monetary metal.

Their records

Rather than weakening gold, the closing of the gold window in 1971 strengthened the yellow metal and weakened the dollar. No longer bound by restrictions on the redemption of gold, the Federal Reserve was now able to create money ad infinitum. The results, as we all know, were atrocious.

Since August 1971, the dollar has lost 86% of its value. In other words, it takes more than $7 today to buy what $1 did back then. And the gold?

Gold has gained nearly 5,300% in value since 1971, when it was officially valued by the US government at $35 an ounce. This is a staggering rate of growth, exceeding 8% per year annualized, and even exceeding the growth of stock markets over the same period.

As you can see, as the dollar weakens, gold strengthens. And the weaker the dollar, the stronger gold becomes.

Gold versus the dollar today

This dynamic plays out not only in the long term, but also in the short term. Many people wonder why, when the economy is showing signs of weakness, inflation remains high and a recession seems imminent, the price of gold is not soaring to the moon.

This is because gold is once again in direct competition with the dollar. Observe the movements of the price of gold and you will often see that they are negatively correlated with movements of the US dollar index.

When the dollar index rises (the dollar strengthens), the price of gold often falls. When the dollar index goes down, the price of gold often goes up.

Institutional investors are looking at the Federal Reserve’s current plan to continue raising interest rates and shrinking the size of its balance sheet and believe it will help strengthen the dollar. And therefore, they judge that it will put downward pressure on the price of gold.

The longer the Fed sticks to its tightening policy, the more pressure keeps the price of gold from rising, or so conventional thinking does. At some point, however, the economy could get so bad that consumer demand for gold will completely overwhelm any downward pressure on gold from Fed monetary tightening.

There’s also the fact that, despite so-called Fed tightening, the Fed’s balance sheet and the size of the money supply will still be much larger than they were just a few years ago. So while the dollar may strengthen in the short term, it is still weaker than it was a few years ago.

The Fed will also come under heavy pressure to end its tightening policy if the economy falls into recession. And the more severe the recession, the greater the pressure to return to monetary easing.

This dynamic will likely influence the near-term direction of the gold price, with the tension between the dollar and gold providing much of the backdrop for gold price action. And in the long term, the tension between the dollar and gold could continue to have a major influence on the price of gold.

Gold against the dollar in the future

Depending on the severity of the next recession, we could find ourselves at a crossroads right now, where the future direction of the monetary system becomes more apparent. Gold and the dollar have been battling each other for over a century, with the US government backing the dollar, while markets continue to trust gold.

If the inflationary crisis we are currently experiencing turns into stagflation, confidence in the dollar could continue to erode and gold could regain its status as the guarantor of international monetary stability. The question for you is, which side do you take?

Gold has survived currency after currency for thousands of years. This is why so many people choose to buy gold, due to its long-term track record of stability and wealth preservation. It is also a useful tool for diversifying a portfolio, especially when inflation is rising and recession is approaching.

The struggle between gold and the dollar will not be over anytime soon. But at some point, many Americans may have to choose a side in the future if they want to maintain their standard of living.

Whether it’s portfolio diversification, inflation hedging, or financial turmoil protection, Goldco has worked for more than a decade to help Americans reap the many benefits of buying and owning. Golden. Thousands of satisfied customers have trusted Goldco to help them preserve their wealth and protect their retirement savings. Will you do it too?

Call Goldco Today and chat with one of our precious metals experts to learn more about the benefits you can derive from owning gold.
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Trevor Gerszt is the founder and CEO of goldco, a precious metals dealer in Los Angeles. For more than 20 years, Trevor has sought ways to help people build long-term wealth through the safety and stability of precious metals and other alternative assets. Goldco is A+ rated by the Better Business Bureau, 5 time INC 500 winner and has countless 5 star reviews for its quality customer service, reliability and strong reputation.

© 2022 Newsmax Finance. All rights reserved.

]]> Developers of mobile app builder Nwicode launch their own cryptocurrency https://lastjeudi.org/developers-of-mobile-app-builder-nwicode-launch-their-own-cryptocurrency/ Tue, 07 Jun 2022 13:00:00 +0000 https://lastjeudi.org/developers-of-mobile-app-builder-nwicode-launch-their-own-cryptocurrency/ Nwcoin DAO The coin was issued by the developers of Nwicode Inc, in order to develop and improve their own software development and transferred under the direction of DAO We strive to be strong supporters of free tools where you have to earn money” —Diana Mayer NEW CITY, NEW YORK, USA, June 7, 2022 /EINPresswire.com/ […]]]>

Nwcoin DAO

The coin was issued by the developers of Nwicode Inc, in order to develop and improve their own software development and transferred under the direction of DAO

We strive to be strong supporters of free tools where you have to earn money”

—Diana Mayer

NEW CITY, NEW YORK, USA, June 7, 2022 /EINPresswire.com/ — The nwcoin The project was started by the developers of the Nwicode software with the aim of unlimited development and stability regardless of political and economic problems.

Nwcoin is a coin issued to improve the quality of service delivery, internal settlement when buying and selling digital goods and services, remuneration of participants in the No-code community. Nwcoin is a BEP-20 token on BSC and it is the hottest contract for a rewards token on BSC.

Nwcoin DAO issues a floating reserve currency which is locked by a basket of assets. By focusing on supply growth rather than price increases, Nwcoin DAO hopes that $NWC can function as a currency that can maintain its purchasing power regardless of market volatility.

The NWC token is a resident token of the Nwicode CMS Software. It is designed to offer a variety of utilities to all members of the community of mobile app developers, marketing agencies, and freelancers.

Nwcoin It differs from other digital currencies by an amazing, dynamic no codes community made up of friendly people like you. Nwcoin creates incentives for all key players in the blockchain ecosystem, ensuring the decentralized development of digital money in the No-Code developer community

By launching a new WEB 3 marketplace for selling software, designing models and providing services, Nwicode opens new jobs not only for technical specialists, but also for people who want to change their profession and do not don’t have the opportunity to learn programming.

Try Nwicode today and become no-code development professionals.

Diana Sizova
Nwicode, Inc.
write to us here

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Many cryptocurrencies could see a major crash in this bear market https://lastjeudi.org/many-cryptocurrencies-could-see-a-major-crash-in-this-bear-market/ Sat, 04 Jun 2022 10:09:38 +0000 https://lastjeudi.org/many-cryptocurrencies-could-see-a-major-crash-in-this-bear-market/ The cryptocurrency industry has seen a major downturn in the year 2022, moreover, the recent collapse of the algorithmic stablecoin chain Terra has raised many more questions about the reliability and future of the market. crypto. Circle CEO Jeremy Allaire is of the opinion that not all stablecoins are created equal, as this will help […]]]>

The cryptocurrency industry has seen a major downturn in the year 2022, moreover, the recent collapse of the algorithmic stablecoin chain Terra has raised many more questions about the reliability and future of the market. crypto.

Circle CEO Jeremy Allaire is of the opinion that not all stablecoins are created equal, as this will help people identify fully secure and well-regulated tokens.

In reaction to this, governments around the world are not rushing to regulate the strict rules on cryptocurrencies. The last edition of the World Economic Forum (WEF) saw major differences from the last in 2020, cryptocurrency discussions still rule the conference for different reasons.

The Crypto Market Will Crash Further

According to a recent analysis, there are more than 19,000 crypto tokens floating around the various crypto exchanges around the world. while several digital asset industry giants believe that the market status is still uncertain.

In the future, few tokens may disappear from the crypto market that currently exists, says the summary of a CNBC Report. Likewise, we cannot ignore the bear market conditions of existing stablecoins.

Ripple CEO Brad Garlinghouse said a few digital tokens might go away in the coming time and aren’t really needed at the moment as there are currently 180 fiat currencies.

Meanwhile, he says Ripple is still embroiled in a lawsuit against the US SEC over the nature of its native XRP token, the outcome of which could change the commission’s outlook on the cryptocurrency.

In addition, Web3 Foundation Manager Bertrand Perez, in comparison to the current state of the market with the beginning of the Internet era, mentioned that there are many scams registered at an early age and only adding no market value. Adding further, he said that we are in a bear market that is considerably good, which will clear the air of people who were in the market for the wrong reasons.

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STANDARD MOTOR PRODUCTS, INC. : entering into a material definitive agreement, terminating a material definitive agreement, creating a direct financial obligation or an obligation under an off-balance sheet arrangement of a registrant, financial statements and exhibits (Form 8 -K) https://lastjeudi.org/standard-motor-products-inc-entering-into-a-material-definitive-agreement-terminating-a-material-definitive-agreement-creating-a-direct-financial-obligation-or-an-obligation-under-an-off-balanc/ Thu, 02 Jun 2022 18:33:16 +0000 https://lastjeudi.org/standard-motor-products-inc-entering-into-a-material-definitive-agreement-terminating-a-material-definitive-agreement-creating-a-direct-financial-obligation-or-an-obligation-under-an-off-balanc/ Item 1.01. Conclusion of a significant definitive agreement. On June 1, 2022, Standard Engine Products, Inc. (the “Company”) has entered into a credit agreement with JPMorgan Chase Bank, North America., as administrative agent, and the lenders named therein (the “Credit Agreement”). The credit agreement provides for a $500 million credit facility consisting of a $100 […]]]>

Item 1.01. Conclusion of a significant definitive agreement.

On June 1, 2022, Standard Engine Products, Inc. (the “Company”) has entered into a credit agreement with JPMorgan Chase Bank, North America., as administrative agent, and the lenders named therein (the “Credit Agreement”). The credit agreement provides for a $500 million credit facility consisting of a $100 million term loan facility (the “Term Loan”) and a $400 million multi-currency revolving credit facility available in WE Dollars, Euros, Pounds Sterling, Swiss Francs, Canadian Dollars and other currencies agreed upon by the Administrative Agent and the Lenders (the “Revolving Facility”). The Credit Agreement replaces and refinances the existing Credit Agreement, dated October 28, 2015among the company, SMP Motor Products Ltd. and Trumpet Holdings, Inc.as borrowers,
JPMorgan Chase Bank, North America., as administrative agent and lender, and the other lenders named therein (the “2015 Credit Agreement”).

Borrowings under the Credit Agreement will be used to repay all outstanding borrowings under the existing 2015 Credit Agreement and to pay certain fees and expenses incurred under the Credit Agreement and for other general purposes. of the company and its subsidiaries. The term loan is amortized in quarterly installments of 1.25% during each of the first four years and in quarterly installments of 2.5% during the fifth year of the credit agreement. The renewable installation has a $25 million sub-limit for issuing letters of credit and a $25 million sub-limit for borrowing swingline loans. The due date is June 1, 2027. The Company may request up to two one-year extensions of the maturity date.

The Company may, with the agreement of one or more existing lenders or other financial institutions that are not currently parties to the credit agreement, increase the commitments of the revolving facility or obtain additional term loans from a total amount not exceeding (x) the greater of the following amounts: (i) $168 million and (ii) 100% of consolidated EBITDA for the last four quarters ended prior to that date, plus (y) the amount of any voluntary prepayment of term loans, plus (z) an unlimited amount so long as, immediately after having given effect in this respect, the pro forma net senior leverage ratio (as defined in the credit agreement) does not exceed 2.5 to 1.0.

Loans in WE The dollars bear interest, at the option of the Company, at an annual rate equal to the forward SOFR plus 0.10% plus an applicable margin, or at an alternative base rate plus an applicable margin, when the alternative base rate is the higher between the prime rate, the effective federal funds rate plus 0.50%, and one-month forward SOFR plus 0.10% plus 1.00%. Alternative currency borrowings bear interest at certain variable alternative currency rates plus, in each case, an applicable margin. The applicable margin for Term Reference Loans ranges from 1.0% to 2.0%, and the applicable margin for Alternate Base Rate Loans ranges from 0% to 1.0%, in each case, depending the total net leverage ratio of the Company and its restricted subsidiaries. . The Company may choose interest periods of one, three or six months for SOFR term loans and certain alternative exchange rate loans. Interest is payable at the end of the chosen interest period, but at least quarterly.

The Company will also pay the lenders under the Revolving Facility a commitment fee on the actual daily excess of each lender’s commitment over its outstanding credit exposure under the Revolving Facility. This commitment fee will vary between 0.15% and 0.25% per annum, and is also based on the total net leverage ratio of the Company and its restricted subsidiaries. The Company may prepay the Revolving Loans and terminate the Revolving Loan Commitments, in whole or in part, at any time without premium or penalty, subject to certain conditions.

————————————————– ——————————

The Company’s obligations under the Credit Agreement are guaranteed by its principal national subsidiaries (each, a “Guarantor”), and the Company’s and any Guarantor’s obligations are secured by a perfected first priority charge on the substantially all existing and future personal property owned by the Company and each Guarantor, subject to certain exceptions. The ancillary security described above also secures certain banking service obligations and interest rate swaps and foreign exchange obligations or other hedging obligations of the Company owed to one of the then existing lenders or one of its companies. affiliates. Along with the Company entering into the Credit Agreement, the Company also entered into an interest rate swap agreement with Wells Fargo Bank, North AmericaCo-Syndication Agent and lender under the Credit Agreement, the $100 million borrowings under the credit agreement to manage exposure to interest rate fluctuations.

The Credit Agreement contains customary covenants limiting, among other things, the formation of additional indebtedness, the creation of liens, mergers, consolidations, liquidations and dissolutions, sales of assets, dividends and other payments relating to shareholdings, acquisitions, investments, loans and guarantees, subject, in each case, to the usual exceptions, thresholds and baskets. The Credit Agreement also contains customary events of default.

The Administrator and the other parties to the Credit Agreement have provided in the past, and may provide in the future, certain commercial banking, financial advisory, investment banking and other services for the Company and its affiliates in the normal course of their activities, so that they have received and may continue to receive the usual compensation and expense reimbursements.

On June 2, 2022, the Company issued a press release announcing its conclusion of the Credit Agreement. A copy of this press release is attached as Exhibit 99.1 hereto.

The description of the Credit Agreement set forth above is qualified in its entirety by reference to the Credit Agreement filed as Schedule 10.1 hereto and incorporated herein by reference.

Section 1.02. Termination of a Material Definitive Agreement.

On June 1, 2022in parallel with the Company’s conclusion of the credit agreement described in point 1.01 above, the company terminated the existing credit agreement of 2015, which provided for a $300 million Revolving credit facility. The information set out in point 1.01 above is incorporated by reference in this point 1.02.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under a

           Off-Balance Sheet Arrangement of a Registrant.



The information set out in point 1.01 above is incorporated by reference in this point 2.03.

————————————————– ——————————

Section 9.01. Financial statements and supporting documents.




 (d) Exhibits.



10.1     Credit Agreement, dated as of June 1, 2022, among Standard Motor
         Products, Inc., as Borrower, JPMorgan Chase Bank, N.A., as
         Administrative Agent, Bank of America, N.A. and Wells Fargo
         Bank, National Association, as Co-Syndication Agents, J.P.
         Morgan Securities LLC, as Sustainability Structuring Agent,
         JPMorgan Chase Bank, N.A., as Sole Bookrunner, JPMorgan Chase
         Bank, N.A., BofA Securities, Inc. and Wells Fargo Securities,
         LLC, as Joint Lead Arrangers, and the lenders named therein.

99.1     Press release dated June 2, 2022 announcing a new credit
         facility.

104      Cover Page Interactive Data File--the cover page XBRL tags are
         embedded within the Inline XBRL document.

© Edgar Online, source Previews

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TRWinSwap launches an innovative arbitration system on the crypto-trading platform https://lastjeudi.org/trwinswap-launches-an-innovative-arbitration-system-on-the-crypto-trading-platform/ Mon, 30 May 2022 23:31:49 +0000 https://lastjeudi.org/trwinswap-launches-an-innovative-arbitration-system-on-the-crypto-trading-platform/ TRWinSwap is a professional arbitrage platform for crypto trading. They launched the Arbitrage system in their crypto trading platform to enable new traders to succeed. Singapore – May 30, 2022 – TRWinSwap is a subsidiary of SwapIt, headquartered in Singapore and established in 2019. TRWinSwap is the company’s online project to enter blockchain. This is […]]]>

TRWinSwap is a professional arbitrage platform for crypto trading. They launched the Arbitrage system in their crypto trading platform to enable new traders to succeed.

Singapore – May 30, 2022 – TRWinSwap is a subsidiary of SwapIt, headquartered in Singapore and established in 2019. TRWinSwap is the company’s online project to enter blockchain. This is the program that enables intelligent, high-frequency quantitative trading. The automatic robot monitors and tests different exchanges of digital assets around the world in real time, in addition to identifying and detecting the difference in cost associated with digital currencies between different exchanges.

TRWinSwap is an emerging crypto trading platform that helps newbie traders gain trading expertise and can decide the best time to enter the crypto market and make a profit. The company is assisted by its professional teams of traders and marketers to create a stable algorithm that supports 1000+ accounts simultaneously across major exchanges. TRWinSwap is a blockchain company that offers its platform to users for trading, the digital transaction is automated and the results will be returned.

Lately, TRWinSwap is working with the latest concept of the Arbitrage System which allows investors to buy digital currency at a cheap price and sell them at a high price.

Arbitrage is a well-known investment strategy that allows investors to buy and sell digital currency simultaneously on different exchanges to generate profits by profiting from the price difference. Although it is true that the price difference is small, it can still offer attractive returns when multiplied by a larger volume.

The levels of risk and uncertainty are unprecedented in crypto trading, but the introduction of an arbitrage system could reduce the risk of exposure to loss. Cryptocurrency from time to time matures; investors are exploring new strategies and methods to generate profits in their digital trading, with arbitrage being increasingly favored lately.

With TRWinSwap’s automated trading platform, novice traders can quickly seize arbitrage opportunities. The arbitration system works on an algorithm based on quantitative modeling and statistical analysis.

The company is developed by a team of skilled professionals who have managed the operations of the arbitrage trading space with the floating aim of breaking down the barriers to easy success that many traders have been waiting for for many years. Although TRWinSwap does not guarantee anything, but with the help of the arbitration system and its various features, the company assures its investors by offering smart trading strategies other than the traditional trading method.

In addition to its official website, the TRWinSwap the platform is also available in the Apple AppStore and for Android; there is a custom app that can be downloaded freely. Currently, the TRWinSwap app is not available on Google Play Store but will have an official launch in ten days.

App store: https://apps.apple.com/app/id1613194730

android: https://trwinswap.com/static/trwinswap.apk

H5: https://trwin.vip/ (laptop only)

TRWinSwap is the right platform for beginners who want to learn new trading tactics to earn more profits.

Media Contact
Company Name: TRWinSwap
Contact person: Media Relations
E-mail: Send an email
Address:SwapIt Tech Pte Ltd 34 Floor, 77 Robinson Road
Country: Singapore
Website: https://trwinswap.com

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