Foreign Exchange
Education key to forex liberalisation success, says Bahamas governor
Private sector needs to base forex decisions on returns rather than “fear the erosion of wealth”, says Rolle
Venezuela’s new forex auction sees bolivar plummet
Latest auction sees currency devaluate by 99% from heavily subsidised exchange rate
Thailand eases foreign exchange rules to encourage outflows
Central bank seeks to cool down the baht, one of the fastest-appreciating Asian currencies
Markets should not panic over reserve levels – Bajan governor
Haynes says level of reserves has reached new all-time low at 6.6 weeks of imports, but central bank is not considering a devaluation
Renminbi struggles to gain prominence on global stage – Swift
Chinese currency usage only accounted for 1.61% of domestic and cross-border payments in December 2017; digitisation may be the key to currency’s success
Morocco introduces a more flexible exchange rate
The central bank introduces a daily band of 5% for the dirham to trade against major currencies
Angola drops dollar for euro in new exchange rate regime
Kwanza depreciates 11.5% against the dollar following regime change
SNB expects record profits for 2017
Swiss central bank benefits from high asset prices and a weaker franc
Angola looks to abandon currency peg
Crippled by low commodity prices, Angola’s kwanza will be allowed to float within a range, governor says
Qatar Central Bank launches legal probe into manipulation
Central bank appoints law firm, as governor accuses blockading countries of manipulating the riyal and local markets
GFXC publishes final word on last look
The Global Foreign Exchange Committee releases the new and final version of Principle 17, and adds two examples to illustrate best practice
Rupee drops as SBP tackles reserves decline
Pakistani rupee down nearly 4% after central bank triggers “market-driven adjustment”
ECB and 14 European central banks commit to forex code of conduct
Bank of England and rest of the European Union central banks set to follow suit in early 2018
Central Bank of Barbados governor ‘concerned’ about level of reserves
Barbados central bank tweaks securities requirement ratio amid foreign exchange shortage; less than 10 weeks of import coverage remain
Xi sees renminbi taking greater role in global monetary system
President Xi Jinping calls for quality and equality of growth rather than speed; flags plans to promote renminbi as global reserve currency
Ethiopia launches ‘first of its kind’ swap agreement with Sudan
Central banks to swap $16 million under new agreement designed to strengthen financial co-operation and ease Ethiopia’s foreign exchange pressures
Costa Rican central bank gets $1bn to shore up exchange rate
Regional fund offers credit line as central bank aims to boost reserves and relieve pressure on exchange rate; central bank plans a move towards inflation targeting
Jamaica’s central bank implements next step in forex overhaul
Conducting auctions at new rate will improve transparency and efficiency of forex market, central bank says, hoping it will stem speculation and volatility
MAS’s Chia points to the value of EM bonds
Singapore’s reserves and markets chief says interest in onshore Chinese bonds may act as a catalyst for emerging market bonds at a time when the outlook for yields from traditional reserve assets remains low
Renminbi ‘crucial’ for reserve managers – Isabelle Strauss-Kahn
Central banks must consider how Chinese currency fits into reserves - World Bank expert
PBoC dials back on forex controls
Renminbi ends 11-day rise after the central bank relaxes reserve requirements; analysts view move as attempt to end one-way trading
IMF issues advice on Botswana’s sovereign fund
Rules should govern withdrawals from government’s account, IMF says
Future of renminbi looks bright – Swift
The proportion of international payments denominated in renminbi falls to less than 2%, but the number of institutions using the currency increases
Bank of Canada severs mechanical link to external ratings
After several years of work, the Bank of Canada is now “well positioned” to end its mechanistic reliance on external credit ratings, and is helping others do the same, says Philippe Muller