Foreign Exchange
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
Foreign policy impact on future FX reserves composition
Restrictive covenants in global financial safety net system drive fragmentation, while CBDCs and digital petroyuan may alter FX reserve investments
EMEs’ rising reserves increase global volatility – NBER study
Emerging economies’ accumulation of foreign assets has depressed global interest rate
Ethiopia adopts market-based FX regime
Move follows monetary policy reform aimed at attracting IMF funding
Argentina sells dollars in parallel FX market
Domestic currency’s CCL value jumps as central bank tightens monetary supply
Laotian central bank raises rates amid high inflation
Inflation in Laos has been above 20% due to weak local currency
Japan ready to intervene in FX markets, finance ministry says
Top currency official issues warning as yen hits 34-year low against dollar
Argentina extends swap agreement with China
Central Bank of Argentina says it will repay activated $5 billion swap by mid-2026
South Korea and Malaysia renew currency swap line
Bank of Korea and Bank Negara Malaysia resume arrangement that lapsed in 2023
Ukraine’s central bank lifts more currency restrictions
Moves will enable more investment and strengthen economic recovery, NBU says
Asean+3 to launch new financing facility
Thirteen Asian states say fund will deal with exogenous shocks’ effects on balance of payments
Sharp yen rises spark speculation over government intervention
Japanese minister refuses to comment on whether authorities acted to stem currency’s fall
Malaysia using more yuan and ringgit for trade, BNM says
Central bank says the use of dollars for settlement has remained stable over last 14 years
Malaysian governor urges firms to support currency
Cambodian and Malaysian central banks will launch a new cross-border payments link