US dollar
Bank of Mexico delivers $2 billion surplus to the government
The 12.4% depreciation of the peso against the dollar in 2014 had a positive impact on the Bank of Mexico reserves, allowing the central bank to deliver a $2 billion surplus to the government
Central banks of Colombia and Peru expect bond impact from Fed rate hike
Even though markets are already anticipating a Fed interest rate hike, it will still have an impact on bond markets and asset prices, the governors of the central banks of Colombia and Peru argue
Stronger dollar will pose challenges for South African economy, says Mminele
"Rising interest rates in the US would have an adverse impact on borrowing costs, while a weaker euro would limit external demand for South African exports,” says Sarb deputy governor
Singapore dollar ticks up as MAS holds fire
Monetary Authority of Singapore leaves exchange rate policy unchanged despite falling prices in January and February, cites tight labour market
Nigerian reserves head believes renminbi can ‘complement’ euro and dollar
Lamido Yuguda discusses the benefits of a multipolar system and how the Central Bank of Nigeria is managing its renminbi investments in a new book
Global FX reserves down, dollar allocations up
Valuation effects push US dollar portion of allocated reserves higher while euro slips
Bank of Uganda explains currency dynamics
Central bank attributes depreciation of the shilling against the dollar to both the strengthening of the US currency and the increase in demand for the greenback to fund imports and pay dividends
Zeti argues ringgit is ‘undervalued’ but rules out dollar peg
Bank of Negara Malaysia governor rules out pegging the ringgit to the dollar, but revealed she considers the currency to be ‘significantly undervalued’
Bank of Mexico expands dollar sales to stabilise peso
Mexico’s central bank is slowing the pace of reserve accumulation to fund $52 million daily auctions for the next three months, after the peso hit an historic low
Azerbaijan devalues currency by a third
Central bank follows up last week’s decision to abandon its peg in favour of a currency basket by devaluing the manat by 34% against the US dollar
Justin Lin: Multiple reserve currency system ‘less stable' than one based on dollar
Former World Bank chief economist tells Central Banking Journal competing reserve currencies would not address overriding challenge of global monetary system
Venezuela fleshes out details of new floating exchange rate
Venezuela’s central bank will introduce a new free-float exchange rate, allowing people and companies to freely buy and sell dollars; economists say it will lead to depreciation
National Bank of Angola to ‘coerce’ banks into parting with their dollars
Angola’s central bank will intervene when banks deny dollars to their customers, in the face of a shortage of foreign currency due to plunging oil prices
State Bank of Vietnam devalues dong as dollar rises
Vietnam’s central bank devalues the dong by 1% against the dollar, in a move to create ‘sustainable stability’ in the forex market
Peru adopts measures to reduce credit dollarisation
Peru’s central bank lowers the reserve requirement for local currency loans to 9% as part of a suite of measures aimed at boosting financial stability
Central Bank of Brazil extends swap auctions
Brazil’s central bank will continue to hold daily foreign-exchange swap auctions until March, but has reduced the amount on offer from $200 million to $100 million a day
Bank of Mexico sells dollars to stop peso decline
Bank of Mexico will buy up to $200 million worth of pesos a day, after a currency depreciation that it fears could boost inflation and push the central bank into an interest rate hike
Bank for International Settlements sees danger lurking beneath exuberant markets
Recent rapid 'flip-flopping' by markets from risk-on to risk-off and back reveals fragility hidden beneath buoyant asset prices, and central bank interventions may make the problem worse
Argentine governor says peso becoming more predictable
Central Bank of Argentina governor Alejandro Vanoli believes the peso is becoming more predictable due to his efforts to control the exchange illegal market
The shift to a multi-polar world
Extraterritorial reach of US policies could hasten the use of alternative currencies; decision on renminbi inclusion in SDR may be a tipping point for relevance of Bretton Woods institutions
Argentina enjoys a rare period of ‘currency peace’
Peso sees a recovery in the black market after the central bank cracks down; economists suggest a boost in dollar reserves is the main reason for the appreciation
Dollar and renminbi can coexist as global currencies, Eichengreen says
Bank of Korea paper finds that ‘networks are open and several international currencies can coexist’, suggesting the dollar and the renminbi will share the role in the future
Bank of Russia FX intervention hits $6bn
Governor Elvira Nabiullina says central bank will move ahead with switch to inflation-targeting regime as currency falls to record low
Argentina’s central bank governor quits after Presidential criticism
Juan Carlos Fábrega resigns after Argentina’s president accuses the central bank of giving ‘confidential information’ to banks