Russia Treasury Holdings in 2015
Russia Treasury Holdings opened 2015 at $82B and closed at $92B, a +12.04% move for the year. The high of $92B was reached on December 31, and the low of $67B on April 30.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | $82B | $82B | $82B | $82B | +0.00% |
| Feb | $70B | $70B | $70B | $70B | +0.00% |
| Mar | $70B | $70B | $70B | $70B | +0.00% |
| Apr | $67B | $67B | $67B | $67B | +0.00% |
| May | $71B | $71B | $71B | $71B | +0.00% |
| Jun | $72B | $72B | $72B | $72B | +0.00% |
| Jul | $82B | $82B | $82B | $82B | +0.00% |
| Aug | $90B | $90B | $90B | $90B | +0.00% |
| Sep | $89B | $89B | $89B | $89B | +0.00% |
| Oct | $82B | $82B | $82B | $82B | +0.00% |
| Nov | $88B | $88B | $88B | $88B | +0.00% |
| Dec | $92B | $92B | $92B | $92B | +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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