The Dollar Hits a Four-Year High in the Global Markets

A senior technology executive with more than two decades of experience working within the financial sector, Rao Chalasani most recently served as the business CTO and director of trading risk management at Bank of America-Merrill Lynch in New York, NY. Currently residing in New Jersey, Rao Chalasani created the Enterprise Risk Management System while at BofA, in addition to assisting with global market trading. He still enjoys following markets in his free time.

Global equity markets recently experienced a sharp drop due to the dollar index hitting a four-year high, indicating a potential loss in earnings. The dollar index rose 6.3 percent to 85.485, causing many oil and commodity prices to decrease. It also created a sell-off on Wall Street that dropped the S&P 500 benchmark index by 1.6 percent. Companies within the S&P 500 earn up to 50 percent of their revenue from overseas, so the large gain seen on the dollar index will greatly impact their earnings for the quarter.

The euro also saw changes, falling as low as $1.269 on the trading platform EBS. This was largely the result of the increased yield gap between German and U.S. bonds, which plays a key role in exchange rates. As a result of these changes, Wall Street stocks dropped by over 1.5 percent, pushing the MSCI’s all-country index down 1.2 percent. The Dow Jones industrial average and Nasdaq Composite also lost points, closing down 1.54 and 1.94 percent, respectively.

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UNICEF Helps Distribute Ebola Prevention Information in Sierra Leone

Rao Chalasani, of Livingston, New Jersey, has worked for several New York, NY-based financial institutions, including Bank of America (BofA), Deutsche Bank, and Merrill Lynch. In addition to his work endeavors, Rao Chalasani dedicates his time and resources to organizations such as UNICEF.

In response to the Ebola outbreak in West Africa, UNICEF has been working in communities throughout the region to prevent the spread of the disease. As part of these efforts, the organization recently provided technical and financial support for a government-led public awareness campaign in Sierra Leone.

The door-to-door campaign, which took place September 19-21, 2014, supplemented Ebola prevention messages delivered via TV, radio. During the three-day awareness event, nearly 30,000 social mobilizers and volunteers visited 1.5 million households to increase Sierra Leonean’s understanding of ways they can guard themselves from Ebola and help prevent the virus from spreading. More detailed information about UNICEF’s current work can be found on the organization’s website at http://www.unicef.org.