Demand
Argentina to issue three new banknote denominations
Top-value 100-peso note to be eclipsed by new currency; 200- and 500-peso notes will launch in first half of 2016, with 1000 peso note following in 2017
PBoC imposes reserve requirements on offshore deposits for first time
New measure designed to curb CNH short-selling and shows PBoC determination to stabilise offshore market in wake of recent gyrations, analysts suggest
Central Bank of Bolivia issues counterfeit warning ahead of festival
Any reproduction of the bolivar must be either double or half the size to avoid confusion with legal tender under counterfeiting rules, the bank says, ahead of Alasita in La Paz
PBoC cut in renminbi fix prompts market volatility
Central bank cuts fix by 0.51%, triggering second equities slump in a week and further divergence in onshore and offshore exchange rates
Russian and Chinese central banks sign MoU
The governors of the Russian and Chinese central banks sign memorandum of understanding; will now be able to issue bonds in each other’s markets
Peso down almost 30% as Argentina lifts capital controls
Capital controls lifted allowing greater access to foreign exchange; peso slides by 29% against the US dollar as markets open
RMB now second most used payments currency between China and Japan
The Chinese currency more than doubles share of payments between China/Hong Kong and Japan in two years, eclipsing US and Hong Kong dollars while yen retains number one spot
Domestic euro users bear highest shoe leather costs, Bank of Italy paper finds
Euros circulate widely outside the eurozone, transferring some costs to foreigners – but the effect is small relative to the popularity of the euro as a global currency
ECB welcomes draft Portuguese law on banknote production
Proposals would remove requirement that Bank of Portugal must own 51% of legal entity responsible for banknote production; could pave way for closer co-operation with other NCBs
China permits central banks to trade forex derivatives based on Isda agreements
China allows derivatives trading based on international standard agreement for the first time; applies only to sovereign investors and foreign exchange derivatives
Bank Indonesia asks citizens to 'show rupiah some love'
Central bank arranges festival to 'nurture feelings of affection' for currency and encourage Indonesians to start using e-money instead of cash
Lagarde declares support for RMB inclusion in SDR basket
IMF managing director endorses inclusion in currency basket after staff report deems Chinese currency 'freely usable'; executive board decision expected on November 30
Challenging crosscurrents from divergent monetary policy
Divergent monetary policies around the world and challenges linked to China’s economic rebalancing present central bankers with some opportunities as well as numerous threats
Improving banknote efficiency in India
The RBI manages nearly 80 billion banknotes in circulation – a number set to grow by more than 5% per annum. Vijay Shekhawat explains how the central bank is optimising its banknotes business
Bank of Namibia defends currency deal with Angola
Namibia's central bank addresses stakeholders' concerns over its currency conversion agreement with the National Bank of Angola, including the latter’s ability to buy back kwanza
Zhou expects RMB to account for one-third of global payments in 2020
PBoC governor outlines economic objectives over coming five years in sweeping article; looks to 'phase out' quota system and improve reserve management
Belarus to re-denominate its currency from July 2016
Ruble to be cut to one ten-thousandth of its value when new series rolled out; new banknotes printed years ago, but delay saw them stashed in central bank vault
Bank of England expands swap line with China
The BoE and PBoC strike a deal to increase the swap line to RMB350bn and extend it by three years; seen to support London as an offshore centre
US softens discourse on renminbi ahead of SDR review
Treasury drops 'significantly undervalued' reference in flagship report to Congress on foreign exchange rate policies ahead of IMF review next month
Ireland to move to euro rounding next week
Shoppers in Ireland will have transactions rounded to nearest five cents, Central Bank of Ireland says; scheme to be voluntary and apply only to cash payments
Fiji laments 'torn and burnt' polymer banknotes
Central bank governor urges Fijians to stop ironing polymer notes which can 'cause them to melt and shrink'
BoE says cash unlikely to ‘die out’
An article in the Bank of England's quarterly bulletin illustrates the continuing use of cash in the UK, despite the introduction of new payment technologies over the last decade
RBA economist proposes ‘survival model’ of banknote life
The research discussion paper outlines an alternative method of predicting how long banknotes will last, finding the ‘survival model’ produces less volatile estimates
BoE reveals new £20 note will be polymer
Next series of £20 banknotes will feature polymer substrate, in line with £5 and £10 notes; as yet unnamed visual artist will be included in design