Forex: Market round-up
Euromoney Limited, Registered in England & Wales, Company number 15236090
4 Bouverie Street, London, EC4Y 8AX
Copyright © Euromoney Limited 2024
Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement
Foreign Exchange

Forex: Market round-up

Governments swap to raise creditworthiness

Latin American governments are becoming increasingly reliant on swapping their debt into local currency to enhance their creditworthiness, even though the underlying fiscal situation remains unchanged, according to a report issued last month by ratings agency Standard & Poor's. Global investors piling into local currency debt, desperate to find higher yields and diversify out of the dollar, have been a significant driver of this trend.

Private-equity firm buys 25% of Saxo

Private-equity firm General Atlantic has invested $127 million in specialist online trading firm Saxo Bank, making it the largest shareholder after its co-CEOs. Several private-equity firms and investment banks approached the Danish bank during the past year but Saxo clinched the deal with GA because of its sound track record of investing in IT businesses and long-term investment horizons. "GA fits in well with our business strategy as it knows the IT industry well," says Kim Fournais, co-CEO of Saxo Bank. "This partnership will give us room to continue to focus on growing the business and making it more global."

RBS beefs up emerging market offering

In response to growing investor interest in emerging market currencies, RBS announced another upgrade to RBS FiX last month.

Gift this article