US dollar
Yen volatility drives record turnover, central bank surveys reveal
Volume was up across foreign exchange products in the UK and US in April 2013, with nearly $1 trillion traded daily in the US and more than $2.5 trillion in the UK
Euro's international role hampered by continued fragmentation
ECB study finds reserve manager confidence in the euro is recovering, but a leading fund manager says the euro cannot challenge the pre-eminence of the dollar without issuing federal bonds
ECB paper aims to quantify effect of ‘inertia' in reserve currency use
Researchers say dollar's position as the dominant reserve currency is not insurmountable - but force of habit plays a significant role
BoJ's Miyao sees weaker yen as key to ending deflation
Leading proponent of monetary easing highlights a change in the dollar-yen exchange rate as key to hitting Bank of Japan's 2% inflation target
Reserve managers expanding into riskier assets, survey finds
Latest Reserve Management Trends reveal central banks are moving into ‘non-traditional' currencies; growing number of reserve managers investing, or considering investing, in equities
BIS researchers shine light into ‘dark’ FX markets
Working paper finds valuable information in foreign exchange order flows, giving large forex traders a significant competitive advantage
Renminbi internationalisation to get boost from 60m overseas Chinese
Use of the renminbi by the 60-million strong Chinese diaspora will accelerate the currency’s use in global trade and reserves management. By Gary Smith.
IMF paper explores currency value at times of risk aversion
Research published by the International Monetary Fund says currency movements in periods of risk aversion are increasingly reliant on yield
IMF figures show fall in euro’s share of foreign exchange holdings
Euro-denominated foreign exchange reserve currency claims fell by $8.19 billion in the third quarter of 2012 as developing nations diversify their holdings
Fed’s Stein highlights transatlantic risks
Jeremy Stein discusses situations that may lead to a spike in dollar funding costs for European banks operating in the US; says renewed swap lines and new regulation will help
BBA delays phase-out of some Libor rates after complaints
Less-used rates will be produced until May 2013
Belize paper evaluates value of currency peg
Research published by the Central Bank of Belize highlights export growth and steady domestic inflation aided by peg to the US dollar
Finland paper reviews major currency blocs
Bank of Finland study appraising the euro and the US dollar currency blocs says, in equilibrium, the euro bloc would be larger than at present
Barbados celebrates central bank anniversary with new banknote
Redesigned note entered circulation this month to commemorate the central bank’s 40th birthday; security features same as those found in previous currency
Central Bank of Chile holds rates as currency appreciates
Benchmark interest rate left at 5% amid international uncertainty and appreciating peso; first time currency’s gain has been highlighted since dollar-buying programme
HKMA re-appoints Standard Chartered as euro settlement institution
Standard Chartered Bank given a third five-year contract to run the euro real-time gross settlement system in Hong Kong; commended for operating the system “smoothly and effectively” since 2003
Ukrainians encouraged to hold savings in national currency
Director of National Bank of Ukraine’s Monetary Policy Department promotes hryvnia for savings purposes; tells public currency is sound and highlights uncertainty surrounding other currencies
‘Unofficial dollarisation’ raises significant stability risks, ECB study finds
Emerging markets with large holdings of ‘hard’ currency assets and liabilities are exposed to substantial stability risks and policy failure, finds ECB study
‘Not clear’ China wants renminbi to rival dollar, says CIC’s Lau
China is pushing for the renminbi to be used more widely in commerce and finance but it is unclear if Beijing wants its currency to rival the US dollar and euro, says CIC’s Lawrence Lau
Renminbi to shake up the reserves management status quo
China is unlikely to fully liberalise its currency controls during the next five years. But this does not look set to prevent the renminbi from achieving full reserve currency status. By Gary Smith
Malawi devalues kwacha to boost economy
Malawi ends peg to dollar; hopes to speed government’s efforts to restart International Monetary Fund aid programme
Renminbi could be adopted into SDR by 2015, says CentralBanking.com panellist
Latest Central Banking On Air debate asks if reserve mangers should invest more in emerging markets; panellists believe renminbi will be adopted as part of SDR with just the timescale in question
Reserve managers cling to the dollar but shun the euro, CBP survey finds
Central banks have reduced their euro reserve holdings and looked to diversify into non-traditional currencies due to ongoing eurozone tumult finds annual Central Banking Publications survey
'Heavy' gold purchases expected to continue in 2012
GFMS report says emerging economies will continue to turn to gold as they diversify reserves away from US dollar; "trivial" official sector gold sales recorded in 2011