NOW YUAN IS IN THE ELITE CURRENCY CLUB, BUT EURO DOESN'T LIKE IT

The worst year for the euro can be even sadder: International Monetary Fund has included the Chinese yuan in the basket of reserve currencies. Now euro zone currency’s weighting in the IMF’s SDR basket will drop to 30.93 percent from 37.4 percent, the organization said yesterday. The yuan will join the dollar, euro, pound and yen in the SDR from Oct. 1, 2016. Its part will be approximately 10-11 percent.

This year the euro has tumbled 13 percent against the dollar yet, and central banks have reduced the proportion of the currency in their reserves to the lowest since 2002. European Central Bank President Mario Draghi signaled that they are open to boosting stimulus on the next ECB meeting.

“The euro will get the most impact from this weight adjustment,” said Douglas Borthwick, head of foreign exchange at Chapdelaine & Co. “The IMF is taking from euro to give to China; the other rebalancing amounts are largely negligible.”

Most likely, China’s yuan will exceed yen and sterling in the new IMF's basket. The levels will be 41.73 percent for the dollar, 8.33 percent for the yen and 8.09 percent for the pound, the IMF said.

It’s the first change in the SDR’s currency composition since 1999, when the euro replaced the Deutsche mark and French franc. The IMF reviews the basket every five years and rejected the yuan during the last review, in 2010.

The euro has dropped 5.3 percent this quarter against the dollar, it was at $1.0602 as of 13:15 GMT after reaching a seven-month low of $1.0558 on Monday.

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KIWI RISES VS GREENBACK WHILE AUSSIE STEADY NEAR 2-WEEK LOWS

On Thursday the New Zealand dollar rose against its U.S. counterpart, despite the release of downbeat New Zealand trade balance numbers, while its Australian counterpart was steady near two and half week lows.

NZD/USD hit 0.6308 during late Asian trade, the session high; the pair subsequently consolidated at 0.6288.

Earlier Thursday, Statistics New Zealand reported that the country's trade deficit expanded to NZ$1,035 million in August from NZ$649 million the previous month. Analysts had expected the trade deficit to widen to NZ$850 million last month.

Elsewhere, AUD/USD hit 0.6992 during late Asian trade, the session low; the pair settled at 0.6983.

The U.S. dollar had strengthened after comments by some Federal Reserve officials Monday night signaled that a U.S. rate increase is still on the cards this year.

In separate comments, St. Louis Fed President James Bullard and Atlanta Fed President Dennis Lockhart signaled that the Fed rate increase is not off the table this year.

Investors were now awaiting a speech by Fed Chair Janet Yellen later in the day for additional clarity on the bank’s decision last week to leave interest rates on hold.

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11 CURRENCIES THAT MAY FALL AFTER THE YUAN AND TENGE

On Thursday Kazakhstan has shocked global markets - its national currency was plunge on 23 percent. Kazakhstan abandoned control of tenge rate. Vietnam also devalued the dong, while freely traded currencies (the South African rand and Turkey’s lira) extended losses.

The trigger for the wave of depreciations was China’s decision to weaken the yuan on Aug. 11. That added to the woes of emerging markets already reeling from a looming increase in U.S. interest rates and weakness in oil prices.

There are some currencies that are among those most at risk from this conflux of global developments:

- Saudi Arabia’s riyal. Saudi Arabia has about $672 billion in foreign reserves, but speculators are betting on a break of the currency regime as crude oil tumbled to a seven-year low.

- Turkmenistan’s manat. This nation with close economic ties to Russia devalued its currency by 19 percent in January. Analysts from SEB AB wait for further weakening a 20 percent in the next six months.

- Tajikistan’s somoni. The country has close ties with Kazakhstan and so SEB expects a depreciation of 10 to 20 percent.

- Armenia’s dram. The currency has lost 15 percent in the past year, compared with a 46 percent drop in the ruble. A quarter of the country’s trade is with Russia.

- Kyrgyzstan’s som. The weaker tenge will put pressure the som because of this country’s ties to Kazakhstan.

- Egypt’s pound. Traders are betting the pound will weaken about 22 percent in a year.

- Turkey’s lira. It’s one of the world’s worst-performing currencies since China’s devaluation on Aug. 11. An escalation in political violence and the probability of early elections compound the issues.

- Nigeria’s naira. The currency will fall more than 20 percent against the dollar over the next year, traders think.

- Ghana’s cedi. Ghana is also an oil exporter, but its main problems are mainly fiscal imbalances, rising inflation and increasing debt.

- Zambia’s kwacha. The country is heavily exposed to China as copper accounts for about 70 percent of exports.

- Malaysia’s ringgit. The currency slid to a 17-year low on Thursday and foreign-exchange reserves fell below the $100 billion mark for the first time since 2010.

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Auction Listing 22 June 2015

Kuala Lumpur

Reserve Price:  RM 60k
Auction Date : 22 June 2015
A fee of flat rate of rm1500 will be charge to the client if WIN

APARTMENT

Unit No. LCF 4­09, (4thFLOOR), Block Desa Angsana (N), Jalan Desa Cahaya 1, Taman Desa Bukit Cahaya, Cheras

650sf

Reserve Price:  RM 700k
Auction Date : 22 June 2015
A fee of flat rate of 1% will be charge to the client if WIN

2 storey house

No. 126 Jalan Midah Besar, Taman Midah, 56000 Kuala Lumpur

1550sf

Reserve Price:  RM 160k
Auction Date : 22 June 2015
A fee of flat rate of 1% will be charge to the client if win

APARTMENT

No. 26­1­11 1stFLOOR, Block 26, Jalan 1/108C, Taman Sungai Besi, KL

882sf

Selangor

Reserve Price:  RM 75k
Auction Date : 22 June 2015
A fee of flat rate of rm1500 will be charge to the client if win

APARTMENT

No. 3­3­8 Block Kantan 3, Gugusan Kantan 3, Jalan Nuri 7/4, Section 7 Kota Damansara

600sf

Reserve Price:  RM 130k
Auction Date : 22 June 2015
A fee of flat rate of rm1500 will be charge to the client if win

apartment

Unit No. F­2­10 Block F, Apartment Taman Medan Jaya, No. 2A, Jalan PJS 2/1 PJ

797sf

Reserve Price:  RM 1.3M
Auction Date : 22 June 2015
A fee of flat rate of 1% will be charge to the client if win

2 storey semi D

No. 33, Jalan Pulau Tioman U10/93, Taman Greenhill, Seksyen U10 Shah Alam

4480sf

Reserve Price:  RM 450k
Auction Date : 22 June 2015
A fee of flat rate of 1% will be charge to the client if win

2 storey house

No. 29 Jalan U5/5, Bandar Pinggiran Subang, Seksyen U5, 40150 Shah Alam

1540sf

Reserve Price:  RM 180k
Auction Date : 22 June 2015
A fee of flat rate of 1% will be charge to the client if win

1 storey house corner

No. 2 Jalan Kantansari 2, Perumahan Jalan Kantansari, 48010 Bandar Sungai Buaya Rawang

2783sf

Reserve Price:  RM 240k
Auction Date : 22 June 2015
A fee of flat rate of 1% will be charge to the client if WIN

2 storey house

No. 64 Lorong Az­Zahrah 10/3, Section 10, Bandar Puncak Alam

1080sf

Reserve Price:  RM 480k
Auction Date : 22 June 2015
A fee of flat rate of 1% will be charge to the client if WIN

2 storey house

No. 4 Jalan PUJ 5/3, Taman Puncak Jalil, Bandar Putra Permai Seri Kembangan

1550sf

Reserve Price:  RM 350k
Auction Date : 22 June 2015
A fee of flat rate of 1% will be charge to the client if WIN

1 1/2 storey house

No. 37 Jalan Suakasih 2/3A, Bandar Tun Hussein Onn, 43200 Cheras

1540sf

CONTACT:

IZWAN: 019-2488883

FOR REGISTRATION (CALL/SMS/EMAIL) 3 DAYS BEFORE THE AUCTION DATE.

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List of vacancies 2015/2016

List of vacant positions - updated June 18, 2015

1) Dewan Bahasa and Pustaka (DBP) - 23 & 24 June 2015

2) Pos Malaysia Berhad - July 16, 2015

3) Bank Pertanian Malaysia Berhad (Agrobank) - July 17, 2015

4) BASF PETRONAS Chemicals Sdn Bhd - July 15, 2015

5) KPJ Ipoh Specialist Hospital - July 12, 2015

6) Majlis Agama Islam and Malay Custom, Kelantan (MAIK) - July 3, 2015

7) Defence Technologies Sdn Bhd (DEFTECH) - July 2, 2015

8) Universiti Teknologi Petronas (UTP) - July 1, 2015

9) Forest Research Institute Malaysia (FRIM) - June 30, 2015

10) Universiti Malaysia Pahang (UMP) - June 26, 2015

11) Universiti Islam Melaka (KUIM) - June 26, 2015

12) Muda Agricultural Development Authority (MADA) - June 25, 2015

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