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Central Bank of Iran Reacts to Falling Rial

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Iran’s rial continues to be in a downward spiral, as the country grapples with high unemployment, high levels of non-performing loans, rising inflation and challenges with drawing in substantial foreign investment. Besides Russia, Italy and France, Iran has had a difficult time luring large foreign direct investment deals. For a number of countries in the Middle East, the value of domestic currency to the U.S. dollar is an important indicator of economic stability and strength. Iranian police recently arrested a number of currency dealers in the black market, while closing down a number of exchange offices. The rapid devaluation of the rial and the rise of the U.S. dollar in the country forces cash to remain in the currency market versus being put to productive uses such as capital expenditures. The devaulation of the rial has driven people to speculate and Tehran is trying to prevent that.

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CalPERS Commits $5 Billion Toward US Enhanced Equity Strategy

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The California Public Employees’ Retirement System (CalPERS) moved US$ 5 billion toward an internally-managed U.S. enhanced equity strategy. This falls under the global equity bucket at CalPERS.

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Chinese SAFE Investment Company Sells Off Stake in Ropemaker Place

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Singapore-listed property company Ho Bee Land, acquired a prime office at 25 Ropemaker Place, EC2, located in the City of London, for £650 million. The property went up for sale in December 2017.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Norway SWF Adds to Existing Investment in Central London

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On June 15, 2018, Norges Bank Real Estate Management, the manager of Norway Government Pension Fund Global, acquired 25 percent of a long leasehold interest in 30 Warwick Street in central London, in joint venture with The Crown Estate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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