US dollar
Solomon Islands increases flexibility of currency
Annual report reveals Central Bank of Solomon Islands scrapped its policy of restricting the movement of its currency against the US dollar on any given day, but retained peg against basket
US Treasury: woman will appear on new $10 banknote
More than a century after Martha Washington was featured on a $1 note, Treasury secretary Jack Lew announces he will pick another woman to feature on the $10 note
Zimbabwe pulls local currency from circulation
Locals will be able to exchange their Zimbabwean dollars for US dollars until September 30; any amount up to Z$175 quadrillion in their bank accounts will be swapped for a flat $5
US ‘unwilling to compromise' on derivatives rules, China vice-minister of finance says
Differences in accounting practices remains an urgent issue, Zhu Guangyao argues in a new China report; contributors critical of dollar's ‘exorbitant privilege' as sole reserve currency
The rising international role of the renminbi
The global reach of Chinese investment and the renminbi have expanded rapidly over the past few years. The currency’s journey is seen by some as a reflection of China’s global ambition and expansion
Former PBoC chief explains why RMB evolution brings benefits to China and rest of the world
Dai Xianglong, former chairman of China’s National Social Security Fund (NSSF) and former president of IFF, backs the idea of the internationalisation of the renminbi and the benefits it could bring
Justin Lin on fixing the fault lines of the international monetary system
Former chief economist at the World Bank, Justin Lin, explains why US, not Asian, policies caused the financial crisis and recommends how to fix endemic global imbalances
Sponsored feature: Defining the ‘new normal’ in China
Setting ambitious targets and reaching them fast has been essential for more than three decades. But this growth-at-any-cost push is now being replaced with what China’s leaders call the ‘new normal’
UBS escapes DoJ prosecution and fine
But it pays a further £342 million to the Fed over FX conduct issues
Currency shifts could create ‘dilemma’ for Asian economies
IMF regional economic outlook warns policy-makers could face an ‘uncomfortable trade-off’ between external competitiveness and financial stability
Bank of Mexico delivers $2 billion surplus to the government
The 12.4% depreciation of the peso against the dollar in 2014 had a positive impact on the Bank of Mexico reserves, allowing the central bank to deliver a $2 billion surplus to the government
Central banks of Colombia and Peru expect bond impact from Fed rate hike
Even though markets are already anticipating a Fed interest rate hike, it will still have an impact on bond markets and asset prices, the governors of the central banks of Colombia and Peru argue
Stronger dollar will pose challenges for South African economy, says Mminele
"Rising interest rates in the US would have an adverse impact on borrowing costs, while a weaker euro would limit external demand for South African exports,” says Sarb deputy governor
Singapore dollar ticks up as MAS holds fire
Monetary Authority of Singapore leaves exchange rate policy unchanged despite falling prices in January and February, cites tight labour market
Nigerian reserves head believes renminbi can ‘complement’ euro and dollar
Lamido Yuguda discusses the benefits of a multipolar system and how the Central Bank of Nigeria is managing its renminbi investments in a new book
Global FX reserves down, dollar allocations up
Valuation effects push US dollar portion of allocated reserves higher while euro slips
Bank of Uganda explains currency dynamics
Central bank attributes depreciation of the shilling against the dollar to both the strengthening of the US currency and the increase in demand for the greenback to fund imports and pay dividends
Zeti argues ringgit is ‘undervalued’ but rules out dollar peg
Bank of Negara Malaysia governor rules out pegging the ringgit to the dollar, but revealed she considers the currency to be ‘significantly undervalued’
Bank of Mexico expands dollar sales to stabilise peso
Mexico’s central bank is slowing the pace of reserve accumulation to fund $52 million daily auctions for the next three months, after the peso hit an historic low
Azerbaijan devalues currency by a third
Central bank follows up last week’s decision to abandon its peg in favour of a currency basket by devaluing the manat by 34% against the US dollar
Justin Lin: Multiple reserve currency system ‘less stable' than one based on dollar
Former World Bank chief economist tells Central Banking Journal competing reserve currencies would not address overriding challenge of global monetary system
Venezuela fleshes out details of new floating exchange rate
Venezuela’s central bank will introduce a new free-float exchange rate, allowing people and companies to freely buy and sell dollars; economists say it will lead to depreciation
National Bank of Angola to ‘coerce’ banks into parting with their dollars
Angola’s central bank will intervene when banks deny dollars to their customers, in the face of a shortage of foreign currency due to plunging oil prices
State Bank of Vietnam devalues dong as dollar rises
Vietnam’s central bank devalues the dong by 1% against the dollar, in a move to create ‘sustainable stability’ in the forex market