US dollar
Venezuela to debut CBDC in October
“Bolívar digital” accompanied by redenomination of currency, which will drop six zeroes
Digital revolution: perks of a global Chinese CBDC
Chinese central bank digital currency has the potential to boost the renminbi’s internationalisation further, but only if international investors have access.
SNB research highlights trade-offs in use of capital controls
Financial stability benefits come at cost of curbing job creation, authors find
Ecuador central bank doubles BIS credit line
Central bank to treat funds as precautionary to deal with a future downturn
Bank Indonesia bolsters FX settlement with Japan and Malaysia
BI continues to promote local currencies in a bid to “reduce dependence on the US dollar”
Waller ‘highly sceptical’ Fed needs a CBDC
Existing and planned payments system upgrades appear sufficient, governor says
The IMF’s $650bn SDR allocation and a future ‘digital SDR’
Focus is needed on widening SDR use in payments and the creation of a ‘digital SDR’, to support a large allocation of ‘official’ IMF SDRs, writes Warren Coats
G30 calls for major US Treasury market reform
Rise of non-banks and side-effects of regulation are triggering bouts of “dysfunction”, report warns
Could higher US inflation boost euro’s international role?
Divergent rates of inflation on both sides of the Atlantic may compel investors to look for alternatives to the dollar, panellists say
Somalia’s governor on rebuilding its central bank
Governor Abdirahman Mohamed Abdullahi discusses reviving Somalia’s war-damaged economy, re-creating a payments system, and dealing with remittances
Three ways to bolster flawed AML/CFT in the EU
The EU needs to significantly improve the structure and resourcing of its AML/CFT oversight if it really wants to combat illicit money flows, write Panicos Demetriades and Radosveta Vassileva
The RBI’s next big question: how to normalise monetary policy?
India’s central bank needs to plan an exit from its efforts to manage the ‘impossible trinity’
Charles Goodhart on inflation targets, financial stability and the role of money
The LSE professor says inflation targets should have been 0%, the Fed’s move to AIT is a mistake, independence is under threat from inflation, big balance sheets support liquidity, AI can help supervisors and climate stress tests are unconvincing
El Salvador’s bitcoin currency experiment
Move by first nation to approve bitcoin as legal tender raises important issues
It’s time to smash Iran’s endemic inflation
As Iran goes to the polls, high inflation is still plaguing the economy. Steve Hanke looks at solutions
How the Fed’s Fima addressed the 2020 dollar liquidity shortage
The fifth chapter of HSBC's Reserve Management Trends 2021 explores how the Fed's repo facility supported markets during the Covid-19 pandemic
EU common debt to boost euro’s international role – ECB
Currency still faces negative rates, fragmented debt market and lack of triple-A assets
RBI faces dilemma from US policy spillovers – BIS paper
Authors highlight evidence of “contractionary devaluation” when US monetary policy tightens
Should the Fed’s Fima facility be made permanent?
The emergency repo facility reassures reserve managers about access to dollar cash during a breakdown in the US Treasuries market
Mexican president resumes attacks on central bank
AMLO calls on Banxico to disclose how reserves are handled and how much money its managers make
BoE’s Hall proposes policies to tackle ‘dash-for-cash’ risks
Central banks could offer repos to “broad array” of counterparties, FPC member says
Diem shifts focus to US dollar stablecoins
Move away from Switzerland sees former Libra Association distance itself from original multi-currency plans
Dollar’s share of global reserves falls to 25-year low
Gradual decline may stem from currency diversification by emerging market central banks - IMF report
Central clearing of Treasuries could cut disruption – NY Fed paper
Central clearing could have avoided most settlement failures during Covid-19 crisis, authors say