World Bank sees no recovery in commodity prices over next 5 years

FXStreet (Mumbai) - World Bank, in its latest review, mentioned the commodity prices are unlikely to see a recovery over the next 5 years.

The review also says African currencies have depreciated due to anticipated US interest rate hike.

Commodity rout worsened this week after the China data released on Tuesday showed the exports dropped for fifth consecutive month. The commodity prices have been hit hard by the slowdown in the global economy, and sharp fall in oil prices (which reduces cost of production).