UAE Treasury Holdings in 2015
UAE Treasury Holdings opened 2015 at $78B and closed at $70B, a -10.78% move for the year. The high of $82B was reached on February 28, and the low of $68B on November 30.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | $78B | $78B | $78B | $78B | +0.00% |
| Feb | $82B | $82B | $82B | $82B | +0.00% |
| Mar | $80B | $80B | $80B | $80B | +0.00% |
| Apr | $73B | $73B | $73B | $73B | +0.00% |
| May | $73B | $73B | $73B | $73B | +0.00% |
| Jun | $71B | $71B | $71B | $71B | +0.00% |
| Jul | $73B | $73B | $73B | $73B | +0.00% |
| Aug | $71B | $71B | $71B | $71B | +0.00% |
| Sep | $71B | $71B | $71B | $71B | +0.00% |
| Oct | $72B | $72B | $72B | $72B | +0.00% |
| Nov | $68B | $68B | $68B | $68B | +0.00% |
| Dec | $70B | $70B | $70B | $70B | +0.00% |
Events During 2015
The PBoC devalued the yuan by 1.9% in a single day on August 11, 2015, the first meaningful devaluation since 1994. Global risk assets convulsed.
Brent crude fell from $115 in June 2014 to $27 in January 2016, a 77% collapse. Shale oversupply and OPEC's refusal to cut production broke the commodity supercycle that had dominated markets since 2003.
The Swiss National Bank abandoned its 1.20 EUR/CHF floor on January 15, 2015. The franc immediately surged 30%, blowing up retail FX brokers and exposing the fragility of exchange rate commitments.
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