US dollar
PBoC’s language suggests policy shift on yuan – China economist
Central bank drops ‘cautious’ from pronouncements on currency’s internationalisation
Economists divided on impact of yuan internationalisation efforts
Experts offer mixed views on measures including renminbi bonds, repos and HKMA facilities
BIS article notes changing effects of dollar weakness on EMEs
Investment channel likely to become more important countervailing force, authors say
Reserve Benchmarks 2025 – model banks analysis
Data breakdowns shed further light on asset allocations, staffing and strategy
The SDR as an alternative to the dollar
The weaponisation of the dollar by US authorities represents an opportunity to reconfigure usage of the SDR, argues Warren Coats
Reserve Benchmarks 2025 – executive summary
Data reveals how central banks are responding to tariffs – or choosing not to
Credible Fed key to dollar’s role in Asia – Amro’s Dong He
Organisation’s chief economist says Asia’s central banks not seeking to disrupt currency’s position in region
Reserve Benchmarks 2025 report – tariff realignment?
Benchmarks show how some central banks are cutting US dollar exposure and raising duration
FX turnover surges 28% to nearly $10 trillion a day – BIS
Triennial survey finds euro has overtaken dollar in OTC interest rate derivatives market
Weak dollar mitigated April tariff shocks – BIS’s Maechler
Greenback’s depreciation boosts risk appetite and lowers import costs, deputy general manager says
Non-dollar stablecoins could spur greenback’s decline – BdF deputy
Central banks should embrace, not oppose, financial innovation, Bénassy-Quéré argues
Dollar dominance amplifies transmission of US shocks – study
Bank of Korea research recommends promoting South Korean bonds and internationalisation of won
How FX pricing is adapting to Trumpian markets
Dealers are tying pricing engines to new signals in effort to cope with out-of-the-blue moves
‘Liberation Day’ triggered demand for dollar-backed stablecoins
Researchers find effect was stronger in countries subject to higher US tariffs
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’.
China to discuss stablecoins at cabinet level – report
Experts say allowing stablecoin issuance in mainland China unlikely to speed up yuan internationalisation
The Genius Act: a smart move for global payments?
Experts from the stablecoin industry discuss if new US law can live up to its name
Tariffs only partly explain April’s volatility – BIS paper
Movements in dollar and Treasury term spread driven by other factors, authors say
Is this time different for Argentina?
Reserve shortage and overvalued currency cast a pall over an otherwise successful stabilisation campaign
Trump’s tariffs and the emerging market economies
Steve Kamin says EMEs are likely to escape the worst outcomes from capricious and chaotic trade policy
The foundations of sovereign finance are quietly evolving
Digital settlement infrastructure is taking shape. Now SSA issuers must decide how, not whether, to participate, argues Domenico Nardelli
Elizabeth McCaul on supervision, new macro-dynamics and investing in suptech
Former ECB Supervisory Board member speaks about Covid-19 and Credit Suisse shocks, regulation debates, the rise of non-banks and what makes tech projects succeed
Ex-BCRA chief: Argentina missed window to rebuild reserves
Authorities could have bought more dollars during prime export season, argues Martín Redrado
Boris Vujčić on Croatia’s economic journey, the digital euro and the Governing Council
The Croatian National Bank (HNB) governor speaks with Christopher Jeffery about managing financial risks, the pros and cons of euro adoption, payment system reform and the use of real-time data