Currency News: Russia Turns to Gold to Replenish Currency Reserves
In January 2016, Russia officially became the world’s leading purchaser of gold with the IMF saying that the Bank of Russia had acquired 688,000 ounces of gold.
I Know First’s unique algorithm predicts the movements of currency pairs by analyzing past data and identifying current trends. Below are the most recent pairs of past forecasts and the actual forecast results.
In January 2016, Russia officially became the world’s leading purchaser of gold with the IMF saying that the Bank of Russia had acquired 688,000 ounces of gold.
1 month currency forecast from March 4th ,2016 to April 4th, 2016
The South Africa rand dropped 31.30% since the end of March 2015. Weakened exports, political controversy and rising inflation rates have all contributed to the struggle of South Africa’s currency over the last year.
1 year currency forecast from March 25th ,2015 to March 20th, 2016
The IMF continues to pressure the People’s Bank of China to disclose their positions in the derivatives market, as the bank is relying on derivates as their main tool for supporting the nation’s currency.