real-time news and commentary for investors
Friday, Aug 30
India claims joint currency intervention near
- India is partnering with other emerging market countries to plan a join intervention aimed at halting the rout in their currencies, reports Reuters, citing senior Indian finance ministry official Dipak Dasgupta.
- "It's is going to happen in a matter of days rather than weeks ... Brazil and India can start the move," he says, without making clear exactly which countries are joining the effort.
- Meanwhile, AMP Capital - Australia's 2nd largest money manager - tells the WSJ it's slashed its emerging markets exposure to "zero" as the Fed readies an end to its liquidity binge.
- Emerging market ETFs: AGEM, EEM, ADRE, SCHE, GMM, VWO, DEM, EWEM, PXH, PIE, EWX, DGS, EMLB, EDC, EET, EMSA, EDZ, EEV, EUM, TLTE, HILO, EELV, EEMA, EMFT, DVYE, FEMS, EVAL, EGRW, EMCR, IEMG, EMDR, EEME.
- Emerging market currency ETFs: CEW, AYT, JEM, PGD.
- India ETFs: INDY, EPI, PIN, INP, INDA, INXX, SCIF, SCIN, INDL, SMIN.
- Rupee ETFs: ICN, INR.