US dollar
Central banks accelerate gold purchases in 2018
This has been the strongest period of gold buying since 2015, WGC says
Booming US economy set against ‘fragile’ markets – BIS review
Fiscal stimulus on top of loose financial conditions in the US continues to pile pressure on emerging markets, the BIS warns in its latest quarterly review
Juan José Echavarría on Colombia’s path to sounder monetary and economic policy
The governor of the Central Bank of Colombia talks about policy efforts to promote stability, the importance of independent institutions and the implications of Venezuela’s economic collapse
Zimbabwe may axe bond note scheme – finance minister
Incoming finance minister says priority will be currency reform
Bank Indonesia steps in to stem rupiah fall
Rupiah falls to lows not seen since the Asian financial crisis, as Indonesia becomes the latest victim of the strong dollar
Vietnam allows renminbi payments in border areas
Renminbi payments designed to cut risks and boost trade
Venezuelan central bank launches app to aid currency reconversion
App allows members of the public to covert prices into the new “bolivar soberano”
Monetary policies spill over to currencies, BIS paper says
Paper examines impact of multiple monetary policies on cross-border bank lending
Sierra Leone’s president fires governor and appoints successor
Recently-elected president appoints academic as economy’s problems worsen
Trump says Federal Reserve should give him ‘some help’
US President says central bank should hold policy rates while he negotiates trade deals
Myanmar central bank formally drops forex trading ‘band’
Central bank follows IMF recommendation and also lowers official exchange rate
HKMA spends over $2 billion to defend local currency
Hong Kong dollar fell to hit lower limit of its 7.75-7.85 peg to US dollar
The perilous road to normality
Many central banks are starting to tighten policy, but their room for error is limited and their final destination unclear. What more can they do?
Central bank deputy arrested as Iran grapples with forex crisis
Vice governor in charge of forex has been “arrested and sent to jail”, state media reports
Zimbabwean economy faces uncertainty after controversial election result
Violence and accusations of unfairness around the presidential election have dampened hopes of economic recovery
Maldives targets forex shortage with new strategic plan
Central bank wants to tackle dollarisation and forex shortages, and may shake up governance
US dollar credit to emerging markets growing faster, reveals BIS data
Growth in dollar-denominated debts up 9%, with growth in debt securities even faster
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
National Bank of Angola settles $426 million debt with Namibian counterpart
Failed currency agreement resulted in huge accumulation of debt as a fall in oil prices stifled Angola’s access to US dollars
Bank of Jamaica’s Wynter on the path to inflation targeting
Bank of Jamaica’s governor talks about revamping accountability, communications and operations as the central bank embraces inflation targeting
Bank Indonesia surprises markets with aggressive rate hike
Markets had expected the central bank to opt for a smaller move in the policy rate
Argentina falters at ‘historic’ moment for BCRA
Replacing Federico Sturzenegger with a finance minister with close ties to the president sends a confused signal about central bank independence
Trump’s fiscal policy threatens emerging markets – Lagarde
Looser fiscal policy could increase market volatility and worsen global imbalances- IMF chief
Tunisia raises rates by 100 basis points to tackle inflation
Despite hike, real rates remain negative; international reserves decline to 71 days of imports