Foreign Exchange
Vietnam says it is “actively prepared” to intervene in forex market
Interventions have helped protect the dong’s value, but depreciation gathered pace in June
BIS paper studies evolving renminbi exchange rates
It is “premature” to declare a stable zone for the renminbi, the paper concludes
SBP devalues rupee again as reserves dwindle
Two years on from last IMF rescue package, Pakistan is again experiencing balance of payments troubles
Central banks still value diversification, say reserve managers
Rise in US yields does not outweigh the benefits of forex diversification, say Nalm delegates
New forex tool has made Jamaican market more competitive – Wynter
Jamaican governor says B-FXITT has levelled the playing field for smaller dealers
Pakistan strengthens China ties with expanded swap agreement
Doubling of swap line is latest in a series of sometimes controversial integration measures
Higher interest rates prove a challenge for reserve managers
Argentina has lost 14.3% of its reserves since late April trying to defend the peso
South Korea will publish data on forex interventions
US Treasury report called recent South Korean forex moves “concerning”
Return on foreign assets partly offsets trade imbalances – research
Emerging economies can recover from current account disequilibrium faster than reserve currency issuers
SNB achieved record profits in 2017
Acquisitions of euros and dollars via foreign exchange interventions yielded 91% of the gains; SNB reshapes portfolio with greater share of equities and riskier bonds
Bank of Israel profits from rising equities – market operations director
Andrew Abir says Israeli central bank has benefited from rising US equities
Book notes: How global currencies work, by Barry Eichengreen, Arnaud Mehl and Livia Chiţu
A comprehensive introduction to the history of global reserve currencies
Angolan banks given new forex responsibilities amid shortage
Requests for foreign currency now must be submitted to commercial entities
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
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
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
Qatar Central Bank launches legal probe into manipulation
Governor accuses blockading countries of manipulating riyal and local markets
GFXC publishes final word on last look
The GFXC releases new and final version of Principle 17