Foreign Exchange
Argentina and the fear of floating
Economists believe the country’s authorities must fully liberalise the peso before it is too late
US Treasury buys Argentine pesos in currency market
First FX intervention since 2011 comes as Washington announces $20bn swap line with BCRA
Ex-BCRA governor: Argentina was not ready for volatility
But tax exemption on exports and US support have bought Milei time until October poll, says Redrado
Argentina sells $379m in FX market to prop up peso
BCRA intervenes for second time since implementing managed float regime in April
Book notes: King dollar, by Paul Blustein
A well-researched overview of the position of the US currency, providing an optimistic view on the future of ‘king dollar’.
Chile launches programme to shore up FX holdings
Central bank aims to increase reserves by 40% and reduce role of foreign currency credit lines
Libya pilots FX platform as currency crisis continues
Foreign currency in short supply and counterfeit notes still in abundance
Kazakh central bank denies it is adding crypto to reserves
National Bank of Kazakhstan says “no decision has been made” on strategic crypto reserve
Hong Kong’s FX interventions came at right time, say economists
Experts believe the resulting fall in interest rates has provided welcome stimulus
Geopolitical ructions and the role of the dollar
Implications of the new US administration’s policies for the international monetary system and central banks
NBP’s Juliusz Jabłecki on geopolitics, bitcoin and gold
Director of financial risk management department talks tactics versus strategy, operations following the outbreak of war in neighbouring Ukraine, FX interventions and independent risk-taking
Trends in reserve management 2025: survey results
Insights on strategies in anticipation of tariffs, interest rate divergence and geopolitical risk, FX diversification and de-dollarisation, as well as bitcoin in reserves, FX interventions and gold
Maurice Obstfeld on the trade war’s damage to the monetary system
The former IMF chief economist speaks about Trump’s chaotic economic policies, the erosion of Fed independence and dollar stability, difficult policy trade-offs for central banks, and the threat to the Bretton Woods institutions
No more FX regime change in Argentina, BCRA governor says
Current policy will naturally move country towards free-floating exchange rate, Bausili explains
Iceland resurrects active FX purchase programme
Central bank to buy €6 million a week to ensure sufficient liquidity
Central banks shore up reserves against fallout from tariffs
Officials prepare to protect FDI and conduct FX interventions, Reserve Management Trends survey finds
Indonesia to ‘aggressively’ shore up currency amid tariffs
Central bank will intervene in FX market once it re-opens following week-long holiday
Bank Indonesia ready to stabilise currency, official says
Central bank could intervene in FX market again after rupiah almost hit record low
Financial market infrastructure services: Nasdaq
Nasdaq has added a monetary operations portal to its cloud-based reserves services as part of its growing integrated suite
FX interventions ‘excessive’, says RBI’s former regional head
India’s central bank nevertheless claims its actions to prop up rupee have been effective
Finland’s hedge against FX risk ‘not motivated by US tariffs’
Central bank’s head of reserves says decision was part of regular review