Baltic Dry Index – as of 9/28/2015

Baltic Dry Index (BDI) (Shipping) 의 수요와공급를 측량하는 지표입니다다시 말하면 생산에 필요한 원자재를 나르는 배의 수요와공급를 나타나기에 앞으로의 경기를 미리 알아볼수있는 중요한 선행지표입니다. 지표는 선행지수로서 이지표가 상승하면 계경제가 성장하고 이지표가 하락하면 경제는 하락할것을 예측할수있습니다.

“A shipping and trade index created by the London-based Baltic Exchange that measures changes in the cost to transport raw materials such as metals, grains and fossil fuels by sea. The Baltic Exchange directly contacts shipping brokers to assess price levels for a given route, product to transport and time to delivery (speed).

Changes in the Baltic Dry Index can give investors insight into global supply and demand trends. This change is often considered a leading indicator of future economic growth (if the index is rising) or contraction (index is falling) because the goods shipped are raw, pre-production material, which is typically an area with very low levels of speculation.” (Investopedia)


2009
년 부터 이지표는 서서히 하락하고있습니다. 세계경제가 서서히 하락하고있음를 보여주고있습니다. (Global trading is shrinking.)

Source: Lloyd


Source: Lloyd


Source: Lloyd

아래 차트는 Forecasting Model  으로 예측한것입니다.

Inflation rates in the World

More than 50% countries are having either low inflation or negative inflation rates. However, some countries are having very high inflation rates such as Venezuela. Usually, the developed countries are under low inflation and most countries with high or super inflation are developing countries.







Obs

Country

Last

Previous

Highest

Lowest

Unit

Reference

Frequency

1

Venezuela

68.5

63.61

115.18

3.22

percent

14DEC

Monthly

2

South Sudan

58.7

51.9

79.5

-14

percent

15AUG

Monthly

3

North Korea

55

70

4376

30

percent

13JUL

Monthly

4

Ukraine

52.8

55.3

530.3

-1.2

percent

15AUG

Monthly

5

Syria

39.7

38.6

121.29

-31.05

percent

15MAY

Monthly

6

Central African Republic

25.58

17.47

51.73

-10.67

percent

14JUN

Monthly

7

Malawi

23

22.2

37.9

6.3

percent

15AUG

Monthly

8

Ghana

17.3

17.9

63

0.4

percent

15AUG

Monthly

9

Russia

15.8

15.6

2333.3

3.6

percent

15AUG

Monthly

10

Argentina

14.7

14.8

20262.8

-7

percent

15AUG

Monthly

11

Iran

14.2

16.2

59.02

-3.27

percent

15JUL

Monthly

12

Moldova

12.2

8.6

16.9

-2.3

percent

15AUG

Monthly

13

Belarus

11.8

13.2

2795.63

5.85

percent

15AUG

Monthly

14

Eritrea

11.6

12.27

34.7

-1.38

percent

14DEC

Yearly

15

Ethiopia

11.6

11.9

64.2

-4.1

percent

15AUG

Monthly

16

Sudan

11.3

14.1

181.5

-1

percent

15AUG

Monthly

17

Angola

11.01

10.41

241.08

6.89

percent

15AUG

Monthly

18

Haiti

10.4

9.3

42.46

-4.7

percent

15AUG

Monthly

19

Libya

9.7

7

29.6

-4.2

percent

15MAR

Monthly

20

Brazil

9.53

9.56

6821.31

1.65

percent

15AUG

Monthly

21

Yemen

9.49

8.49

24.77

0.71

percent

14NOV

Monthly

22

Uruguay

9.48

9.02

182.86

-7.12

percent

15AUG

Monthly

23

Nigeria

9.3

9.2

47.56

-2.49

percent

15AUG

Monthly

24

Guinea

8.3

8.4

42.6

0.5

percent

15JUL

Monthly

25

Sierra Leone

8.11

7.91

255.56

-39.84

percent

15JUL

Monthly

26

Egypt

7.9

8.38

35.1

-4.2

percent

15AUG

Monthly

27

Liberia

7.72

7.9

26.54

-5.69

percent

15JUN

Monthly

28

Zambia

7.7

7.3

19.2

6

percent

15SEP

Monthly

29

Madagascar

7.6

7.6

30.33

-8.45

percent

15JUL

Monthly

30

Myanmar

7.45

7.45

8.27

0.28

percent

15MAR

Monthly

31

Nepal

7.4

7.1

30.42

-11.54

percent

15JUN

Monthly

32

Gambia

7.21

6.71

75.64

-10.91

percent

15MAY

Monthly

33

Indonesia

7.18

7.26

82.4

-1.17

percent

15AUG

Monthly

34

Turkey

7.14

6.81

138.71

-4.01

percent

15AUG

Monthly

35

Mongolia

6.6

6.9

31.9

-1.9

percent

15AUG

Monthly

36

Tanzania

6.4

6.4

19.8

3.4

percent

15AUG

Monthly

37

Bangladesh

6.17

6.36

12.71

-0.02

percent

15AUG

Monthly

38

Kenya

5.84

6.62

31.5

3.18

percent

15AUG

Monthly

39

Kyrgyzstan

5.8

5

32.45

-0.54

percent

15AUG

Monthly

40

Papua New Guinea

5.8

6.1

23.16

-1.61

percent

15JUN

Quarterly

41

Trinidad and Tobago

5.6

5.6

24.52

-2.61

percent

15JUL

Monthly

42

Georgia

5.4

4.9

59.31

-3.3

percent

15AUG

Monthly

43

Swaziland

5.4

4.9

31.1

-5.27

percent

15MAY

Monthly

44

Tajikistan

5.4

5.5

60.6

1.8

percent

15JUL

Monthly

45

Cuba

5.3

6

6

0.8

percent

14DEC

Yearly

46

Bhutan

5.15

6.28

13.53

0

percent

15JUN

Quarterly

47

Chile

5

4.6

746.3

-3.4

percent

15AUG

Monthly

48

Sao Tome and Principe

5

5

86.8

5

percent

15JUL

Monthly

49

United Arab Emirates

4.94

4.4

12.3

-1.6

percent

15AUG

Monthly

50

Uganda

4.8

5.4

30.48

-5.36

percent

15AUG

Monthly

51

Colombia

4.74

4.46

41.65

-0.87

percent

15AUG

Monthly

52

Macao

4.64

4.76

9.49

-3.65

percent

15AUG

Monthly

53

Seychelles

4.6

4.2

63.25

-5.54

percent

15AUG

Monthly

54

South Africa

4.6

5

20.9

0.2

percent

15AUG

Monthly

55

Suriname

4.6

5.2

586.48

-11.68

percent

15JUL

Monthly

56

Turkmenistan

4.42

6

83.7

0.1

percent

14DEC

Yearly

57

Algeria

4.22

3.36

11.92

0.58

percent

15AUG

Monthly

58

Burundi

4.2

8

44.93

-6.27

percent

15AUG

Monthly

59

Tunisia

4.15

5.3

16.7

-1.4

percent

15AUG

Monthly

60

Ecuador

4.14

4.36

107.87

-2.67

percent

15AUG

Monthly

61

Peru

4

3.56

12377.32

-1.11

percent

15AUG

Monthly

62

Paraguay

3.9

3.6

13.4

0.9

percent

15AUG

Monthly

63

Kazakhstan

3.8

3.9

2960.8

1.9

percent

15AUG

Monthly

64

Azerbaijan

3.7

3.5

25.4

-1.8

percent

15JUL

Monthly

65

India

3.66

3.78

11.16

3.66

percent

15AUG

Monthly

66

Armenia

3.6

4.2

22887.4

-5.52

percent

15AUG

Monthly

67

Equatorial Guinea

3.6

3.2

83.9

-17.6

percent

14DEC

Yearly

68

Kuwait

3.6

3.5

11.64

-1.15

percent

15JUL

Monthly

69

Jamaica

3.5

3.8

26.49

3.5

percent

15AUG

Monthly

70

Namibia

3.4

3.3

20.54

0.88

percent

15AUG

Monthly

71

Republic of the Congo

3.4

7

42.4

-9.34

percent

13NOV

Monthly

72

Bolivia

3.2

3.06

23464.36

-1.27

percent

15AUG

Monthly

73

Lesotho

3.2

2.9

35.14

2

percent

15JUL

Monthly

74

Cameroon

3.14

3.05

5

0.77

percent

15MAR

Monthly

75

Malaysia

3.1

3.3

23.9

-2.4

percent

15AUG

Monthly

76

Togo

3.1

1.7

15.83

-26.77

percent

15AUG

Monthly

77

Honduras

3.09

3.2

40.2

2.66

percent

15AUG

Monthly

78

Botswana

3

3.1

15.06

2.81

percent

15AUG

Monthly

79

Chad

2.9

4.2

41.72

-13.06

percent

15JUL

Monthly

80

Mali

2.8

2.8

12.8

-10.16

percent

15AUG

Monthly

81

Nicaragua

2.7

3.1

23.99

-0.12

percent

15AUG

Monthly

82

Djibouti

2.6

2.6

22.47

-6.35

percent

15MAR

Monthly

83

Iraq

2.6

2.6

76.55

-6.37

percent

15AUG

Monthly

84

Uzbekistan

2.6

6.8

7.8

2.4

percent

14MAR

Quarterly

85

Mexico

2.59

2.74

179.73

2.59

percent

15AUG

Monthly

86

Hong Kong

2.4

2.5

16

-6.1

percent

15AUG

Monthly

87

Mozambique

2.28

1.5

17.44

1.05

percent

15AUG

Monthly

88

Rwanda

2.2

1.1

28.1

-15.8

percent

15AUG

Monthly

89

Saudi Arabia

2.1

2.2

11.1

-2

percent

15AUG

Monthly

90

Serbia

2.1

1

14.9

0.1

percent

15AUG

Monthly

91

China

2

1.6

28.4

-2.2

percent

15AUG

Monthly

92

Norway

2

1.8

18.9

-1.8

percent

15AUG

Monthly

93

Guatemala

1.96

2.32

60.71

-11.94

percent

15AUG

Monthly

94

Albania

1.9

1.3

42.08

-2.11

percent

15AUG

Monthly

95

Iceland

1.9

2.2

25.2

-0.06

percent

15SEP

Monthly

96

Montenegro

1.9

1.9

26.5

-1.4

percent

15AUG

Monthly

97

Pakistan

1.72

1.8

37.81

-10.32

percent

15AUG

Monthly

98

Maldives

1.7

0.7

21.16

-3.44

percent

15JUL

Monthly

99

Morocco

1.7

2.4

5.2

-1.6

percent

15AUG

Monthly

100

Bahrain

1.6

1.1

5.22

-2.06

percent

15AUG

Monthly

101

Qatar

1.6

1.4

16.59

-9.96

percent

15JUL

Monthly

102

Congo

1.56

1.49

511.21

1.35

percent

15AUG

Monthly

103

Australia

1.5

1.3

23.9

-1.3

percent

15JUN

Quarterly

104

Bahamas

1.41

1.59

14.24

-0.2

percent

15JUN

Monthly

105

Burkina Faso

1.4

1.9

15.1

-2.7

percent

15JUL

Monthly

106

Comoros

1.4

-3.4

11.7

-3.4

percent

14DEC

Monthly

107

Malta

1.4

1.2

5.74

-1.08

percent

15AUG

Monthly

108

Canada

1.3

1.3

21.6

-17.8

percent

15AUG

Monthly

109

Fiji

1.2

1.4

10.5

-0.3

percent

15AUG

Monthly

110

Guinea Bissau

1.2

2.1

70.44

-18.23

percent

15JUL

Monthly

111

Ivory Coast

1.2

1.5

9.63

-3.84

percent

15AUG

Monthly

112

Laos

1.17

1.37

167

-2.26

percent

15JUL

Monthly

113

East Timor

1.1

1.4

18

-2.5

percent

15JUL

Monthly

114

Mauritius

1.1

0.6

18.1

-1

percent

15AUG

Monthly

115

Barbados

1.04

1.2

9.6

1.04

percent

15JUN

Monthly

116

Austria

1

1.2

10.2

-3

percent

15AUG

Monthly

117

Belgium

0.91

0.46

222.81

-18.11

percent

15AUG

Monthly

118

Netherlands

0.8

1

11.19

-1.3

percent

15AUG

Monthly

119

Aruba

0.7

1.1

12.66

-4.68

percent

15JUN

Monthly

120

Benin

0.7

1.3

15.2

-2.9

percent

15JUL

Monthly

121

Cambodia

0.7

1.02

35.57

-5.69

percent

15JUN

Monthly

122

New Caledonia

0.7

0.6

3.87

-0.5

percent

15AUG

Monthly

123

Niger

0.7

1.3

15.4

-4.2

percent

15AUG

Monthly

124

Portugal

0.7

0.8

53.9

-1.6

percent

15AUG

Monthly

125

South Korea

0.7

0.7

32.5

0.2

percent

15AUG

Monthly

126

Luxembourg

0.6

0.6

4.99

-1.35

percent

15AUG

Monthly

127

Philippines

0.6

0.8

62.8

-2.1

percent

15AUG

Monthly

128

Denmark

0.5

0.7

13

-0.1

percent

15AUG

Monthly

129

Dominican Republic

0.43

0.5

82.49

-1.57

percent

15AUG

Monthly

130

Palestine

0.42

0.72

15.08

-0.08

percent

15AUG

Monthly

131

New Zealand

0.4

0.3

44

-15.3

percent

15JUN

Quarterly

132

Panama

0.4

1

10.04

-0.4

percent

15AUG

Monthly

133

Cape Verde

0.3

0.3

10.2

-4.4

percent

15AUG

Monthly

134

Czech Republic

0.3

0.5

21.9

-0.4

percent

15AUG

Monthly

135

Germany

0.2

0.2

11.54

-7.62

percent

15AUG

Monthly

136

Italy

0.2

0.2

25.64

-0.6

percent

15AUG

Monthly

137

Japan

0.2

0.2

25

-2.52

percent

15AUG

Monthly

138

United States

0.2

0.2

23.7

-15.8

percent

15AUG

Monthly

139

Euro Area

0.1

0.2

5

-0.7

percent

15AUG

Monthly

140

Latvia

0.1

0

17.7

-4.3

percent

15AUG

Monthly

141

Macedonia

0.1

-0.4

9.9

-2.1

percent

15AUG

Monthly

142

Oman

0.1

0.5

14.5

-0.4

percent

15AUG

Monthly

143

Senegal

0.1

1.2

7.22

-4.72

percent

15AUG

Monthly

144

Bulgaria

0

-0.2

2019.5

-2.6

percent

15AUG

Monthly

145

European Union

0

0.1

8.4

-0.5

percent

15AUG

Monthly

146

France

0

0.2

18.8

-0.7

percent

15AUG

Monthly

147

Hungary

0

0.4

31

-1.4

percent

15AUG

Monthly

148

Ireland

0

-0.2

23.15

-6.56

percent

15AUG

Monthly

149

United Kingdom

0

0.1

8.5

-0.1

percent

15AUG

Monthly

150

Vietnam

0

0.61

28.24

-2.6

percent

15SEP

Monthly

151

Gabon

-0.01

1.06

46.95

-16.92

percent

15JUN

Monthly

152

Finland

-0.2

-0.2

19.31

-1.54

percent

15AUG

Monthly

153

Slovakia

-0.2

-0.2

9.8

-0.5

percent

15AUG

Monthly

154

Sri Lanka

-0.2

-0.2

28.31

-0.89

percent

15AUG

Monthly

155

Sweden

-0.2

-0.1

15.5

-1.6

percent

15AUG

Monthly

156

Estonia

-0.3

-0.3

11.44

-2.17

percent

15AUG

Monthly

157

Puerto Rico

-0.3

-1.2

8.8

-1.3

percent

15JUL

Monthly

158

Slovenia

-0.3

-0.4

22.6

-0.7

percent

15AUG

Monthly

159

Brunei

-0.4

-0.5

3.59

-1.3

percent

15JUL

Monthly

160

Cayman Islands

-0.4

0.6

11.4

-3.1

percent

15MAR

Quarterly

161

Israel

-0.4

-0.3

486.23

-2.74

percent

15AUG

Monthly

162

Spain

-0.4

0.1

28.43

-1.37

percent

15AUG

Monthly

163

Taiwan

-0.45

-0.66

61.47

-3.09

percent

15AUG

Monthly

164

Bosnia and Herzegovina

-0.6

-0.7

4.1

-1.5

percent

15AUG

Monthly

165

Croatia

-0.6

-0.4

8.43

-0.93

percent

15AUG

Monthly

166

Poland

-0.6

-0.7

46.5

-1.6

percent

15AUG

Monthly

167

Kosovo

-0.7

-0.7

14.2

-4.4

percent

15AUG

Monthly

168

Costa Rica

-0.74

-0.32

108.89

-0.74

percent

15AUG

Monthly

169

Jordan

-0.76

-0.6

32.91

-8.28

percent

15AUG

Monthly

170

Singapore

-0.8

-0.4

34

-3.1

percent

15AUG

Monthly

171

Belize

-1

-0.8

9.6

-12.7

percent

15JUL

Monthly

172

Guyana

-1

1.15

16.04

-1.46

percent

15MAR

Monthly

173

Thailand

-1.19

-1.05

24.56

-4.38

percent

15AUG

Monthly

174

Lithuania

-1.2

-0.5

707.4

-2

percent

15AUG

Monthly

175

Liechtenstein

-1.4

-1.3

6.53

-1.4

percent

15AUG

Monthly

176

Switzerland

-1.4

-1.3

11.92

-1.4

percent

15AUG

Monthly

177

Greece

-1.5

-2.2

33.7

-2.9

percent

15AUG

Monthly

178

Mauritania

-1.9

-1.1

15.3

-1.9

percent

15AUG

Monthly

179

Romania

-1.9

-1.7

316.9

-1.9

percent

15AUG

Monthly

180

El Salvador

-2

-1.5

12.2

-2

percent

15AUG

Monthly

181

Somalia

-2

-2

215

-15

percent

13DEC

Yearly

182

Cyprus

-2.7

-2.97

18.75

-3.59

percent

15AUG

Monthly

183

Zimbabwe

-2.77

-2.8

5.3

-7.5

percent

15AUG

Monthly

184

Lebanon

-4.6

-3.86

11.1

-4.6

percent

15AUG

Monthly

185

Afghanistan

-4.9

-2.8

13.97

-18.39

percent

15JUL

Monthly

Corporate Tax Rates

The corporate tax rate of Korea is 24.5% which is closed to the mean (23.4%) and median (25%). The corporate tax rate of U.S. is 39% which is the third highest.

Analysis Variable : Tax Rate Tax Rate

Mean 

Std Dev 

Minimum 

Maximum 

Median 

N 

23.3576582 

9.0642836 

0 

55.0000000 

25.0000000 

158 

 



 

Productivity Changes from previous period

Productivity Changes from Previous Period

Obs Country

Percent

Reference

Percent_rank

1 Russia

12.3%

10DEC

1

2 Slovakia

5.2%

15JUN

2

3 Hong Kong

3.2%

14DEC

3

4 Spain

2.6%

15JUN

4

5 Japan

2.3%

15JUN

5

6 Mauritius

2.2%

14DEC

6

7 European Union

1.7%

15JUN

7

8 Austria

1.5%

15JUN

8

9 Switzerland

0.6%

15JUN

9

10 France

0.5%

15MAR

10

11 Croatia

0.5%

15JUL

11

12 Portugal

0.4%

15JUN

12

13 United States

0.3%

15JUN

13

14 Euro Area

0.3%

15JUN

14

15 United Kingdom

0.2%

15MAR

15

16 Poland

0.2%

15JUN

16

17 Germany

0.0%

15JUL

17

18 Australia

( 0.3%)

15JUN

18

19 New Zealand

( 0.3%)

15JUN

19

20 South Korea

( 0.5%)

15MAR

20

21 Denmark

( 0.6%)

15JUN

21

22 Netherlands

( 0.7%)

15JUN

22

23 Canada

( 0.9%)

15JUN

23

24 Norway

( 1.6%)

15JUN

24

25 Italy

( 2.3%)

15JUN

25

26 Taiwan

( 3.3%)

15JUL

26

27 Mexico

( 5.1%)

15JUL

27

28 Brazil

( 12.4%)

15JUL

28

29 Singapore

( 14.9%)

15JUN

29

Source: http://www.tradingeconomics.com/country-list/productivity

Top 20 countries with the most Foreign Exchange Reserve as of 8/2015 (USD Million)

China is the country with the most foreign exchange reserve, and Korea is the country with the fifth most foreign exchange reserve.

Surprisingly, Brazil has the fourth largest foreign exchange reserve ($368 billion)

외화가 가장많은 나라가 중국이며 한국은 5번째로 많이 외화를 보유하고있습니다. 놀랍게도 브라질이 4번째로 많은 외환를 보유하고있습니다.


Source : http://www.tradingeconomics.com/

China lost the most foreign exchange reserve.

Russia lost the second most and Japan lost the third most.

액수로 중국이가장많은 외화가 유출되었고 그리고 러시아 그리고 일본순서입니다.


Source : http://ww.tradingeconomics.com/

In percentage changes, Russia takes first place and Malaysia takes second place.

However, South Korea only lost 1.8% from its Foreign Exchange Reserve

퍼센트로 보면 러시아, 말레시아 , 태국, 알제리 그리고 인도네시아 로 많이 외화가 유출되었습니다.


Source : http://www.tradingeconomics.com/

The following countries are losing their foreign exchange reserves quickly and are in the danger of a currency crisis:

Russia, Malaysia, Thailand and Indonesia.

러시아, 말레시아, 인도네시아, 태국 등이 외환이 빨리 유출되고 있으며 외환위기가 올수도 있습니다.


Source : http://www.tradingeconomics.com/

Covered Interest Parity

Covered Interest Parity: (Fn(₩/$) – S)/S(₩/$)    =  r$ – r₩ 
환율차이 = 금리차이


Exchange Market= Interest Market where F = Forward exchange rate, S= spot exchange rate, r = nominal interest rate If the Fed raises the fed fund rate, then the right part of the equation increases which leads the increasing in the left part of the equation. So, the future exchange rate (Fn(W/$)) should increase to balance the equation. The Bank of Korea should raise the interest rates to balance the exchange rate market. 연준이 금리을 올리게되면 오른쪽부분이 상승하게되고 그러면 왼쪽부분에서 퓨처환율이 상승해야만됩니다. 환율이 너무상승하게되면 한국은행도 금리을 상승시켜서 환율를 안정시켜야만됩니다.

첫번째 는 원화절화가 서서히  되지만  한국은행도 금리인상 이 필요한 경우입니다. 그렇지만 충격을 줄일수있는 시간적 여유가 있습니다. 확률은 중간입니다. (30% 내외)

두번째 는 원화의 절화 폭이 적고 서서히 진행되어서, 한국은행이 금리인상 도 필요하지만 연준처럼 2% 올리지않아도 되며 원화가치를 하락시켜서 한국수출에 도움이될수도있는 경우입니다, 이 경우가 가장 좋은 경우이며 확률은 높은편입니다. (60% 내외)

세번째 는 원화의 절화 폭이 많고 단기간에 진행되어서 한국은행도 단기간에 금리인상이 절대필요하며 한국경제에 특히 내수와 부동산 경제는 타격을 입지만 수출하는 대기업들에는 원화의 급하락으로 이익를 볼수있는 상황입니다. 이경우의 확율은 적습니다. (10% 내외)

Table for Rankings of Currency Market Performance as of 9/17/2015

Currency Market Performance as of 9/17/2015

Obs

Country Symbol

Weekly

Monthly

Yearly

Type

Weekly

rank

Monthly

rank

Yearly

rank

1

Euro Area USD/EUR

(1.10%)

(3.60%)

11.9%

Euro

11

17

10

2

United Kingdom USD/GBP

(0.90%)

0.50%

4.60%

Euro

7

8

14

3

Australia USD/AUD

(1.40%)

2.20%

20.7%

Australia

14

4

6

4

New Zealand USD/NZD

(1.00%)

3.70%

22.1%

Australia

8

2

5

5

Japan USDJPY

(0.60%)

(3.50%)

10.6%

Asia

6

16

11

6

China USDCNY

(0.20%)

(0.50%)

3.70%

BRICS

3

10

15

7

Switzerland USDCHF

(1.30%)

(1.70%)

3.00%

Euro

13

13

16

8

Canada USDCAD

(0.40%)

0.90%

19.8%

America

5

6

7

9

Mexico USDMXN

(1.00%)

1.20%

25.9%

America

8

5

3

10

Russia USDRUB

(3.40%)

(0.70%)

70.0%

BRICS

17

12

1

11

India USDINR

(0.30%)

0.90%

8.50%

Asia

4

6

13

12

Brazil USDBRL

1.00%

12.1%

66.2%

BRICS

1

1

2

13

United States DXY

(1.00%)

(2.60%)

12.0%

America

8

15

9

14

South Korea USDKRW

(1.50%)

(1.70%)

12.7%

Asia

15

13

8

15

South Africa USDZAR

(2.00%)

3.50%

22.4%

BRICS

16

3

4

16

Singapore USDSGD

(1.10%)

(0.50%)

10.6%

Asia

11

10

11

17

Hong Kong USDHKD

0.00%

(0.10%)

0.00%

Asia

2

9

17