Barclays lists currency revaluation ETN
Barclays Capital has listed a new exchange traded note (ETN) on the Arca platform of the New York Stock Exchange. The Asian and Gulf Currency Revaluation ETN is linked to the performance of five different currencies pegged to the US dollar which could subsequently be affected by revaluation.
The basket of currencies underlying the note comprises the Chinese yuan, the Hong Kong dollar, the Saudi Arabia riyal, the Singapore dollar and the United Arab Emirates dirham. Each of the currencies has exhibited similar total returns to a US doallr cash investment, which means they are potentially subject to revaluation.
Barclays has applied its Global Emerging Markets Strategy (Gems) to the basket to produce the Gems Pegged Currency Index, which underlies the note. Interest on the notes will
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