Appreciating dollar, oil, commodities slow forex growth
Strengthening dollar, crude oil and commodity prices, coupled with a downfall in foreign investors’ sentiment, has led to a slowdown in the growth of India’s foreign exchange reserves. According to data furnished by the Reserve Bank of India (RBI) in its weekly statistical supplement, India’s foreign exchange reserves grew... Read more
China’s Metal-Backed Finance Finds New Asian Homes
HONG KONG—Metals used to back financing deals in China are finding new homes across Southeast Asia following a scandal last year at one of the country’s main commodity warehouses. So-called metals-backed financing was mired in controversy last summer when it was found that the same metal stored at a... Read more
Could free online courses improve financial literacy?
The efforts of US universities to educate the population with free online courses has inspired private businesses to do the same – and in the process, improve financial literacy among the nation’s students and teachers. PricewaterhouseCoopers, one of the world’s biggest auditing firms, announced Monday that it would boost... Read more
Russia’s Central Bank Meets With Finance Reps for Bitcoin Talks
Russia’s central bank will meet with representatives from the country’s financial markets to discuss bitcoin regulation next week, a local news source claims. Izvestia, a prominent Moscow-based news outlet, says it is likely that the bank will be supportive of cryptocurrencies. A loosely translated version of the article, which cited... Read more
Here’s what happens when you stop paying your federal student loans
Two years after leaving school, students default on their federal loans at a rate of 9.1%, according to a 2013 report by the New York Federal Reserve. That figure jumps to 13.4% at the three-year mark. Pulitzer Prize-nominated author Lee Siegel wrote an op-ed article in The New York... Read more