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August 13, 2015 - A Currency War on the Horizon?

Another day, another devaluation of China’s currency.  The renminbi fell 1.6% against the dollar on August 12, which followed a nearly 2% fall the previous day.  Today, August 13, the renminbi fell another 1.1%, bring the three-day fall to 4.4%.

Rather than a liberalization of monetary policy, the moves now appear to be aimed primarily at boosting consumer demand by boosting exports via competitiveness. Liberalization and manipulation for domestic reasons are not mutually exclusive, of course, so much remains to be seen.  Especially now that the currency seems to be at around market value (judging by what the renminbi is trading for on currency markets), we’ll see if China continues to devalue, which would indicate exports-driven currency manipulation, or if they stand pat.  My guess is that China will stand pat, but we’ll have to wait and see.


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A Belize FOREX trading license permits your company to legally do the following:

  • Operate as a FOREX brokerage firm
  • Provide a full array of brokerage services to clients
  • Provide an online platform for your clients to do their own FOREX trading
  • Provide managed FOREX trading options
  • Process debit card payments and credits of client accounts

To explore applying for a Belize FOREX trading license today, or to learn more about additional offshore opportunities in Belize, please contact Wrobel & Co., Attorneys at Law.

References


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