The logo of Deutsche bank is seen in Hong Kong, China July 8, 2019. REUTERS/Tyrone Siu/Files
July 6, 2021
(Reuters) – German lender Deutsche Bank said on Tuesday it launched a new set of foreign exchange (FX) indexes to track 21 emerging market (EM) currencies, indicating a growing relevance and importance of developing markets in the global economy.
The set of four new non-tradable FX indexes would track EMs that have over the past couple of decades seen increased global investment inflows, growing proportion of government debt issuance, and a significant jump in transaction volumes in FX.
“The new indices track both spot and carry performance of 21 emerging market currencies, serving as a comprehensive set of barometers for EM investors tracking FX,” Deutsche Bank EM strategist Oliver Harvey said in a statement.
(Reporting by Sameer Manekar in Bengaluru; editing by Uttaresh.V)
Source: One America News Network
