US dollar
Leading central banks make emergency swap lines permanent
Six leading central banks are leaving bilateral swap agreements introduced during the financial crisis in place until further notice; US dollar liquidity-providing operations will continue as normal
Reserve managers continue advance into Canadian and Australian dollars
IMF's latest Cofer data displays increasing popularity of Canadian and Australian currencies as reserve assets, while the euro reverses a previous decline
CLS launches settlement for same-day USD/CAD trades
Settlement risk mitigation firm is due to launch a new settlement session this week for trades settled on a same-day basis
Turkish central bank embarks on daily dollar sales
Announcement follows yesterday's decision to raise interest rates, but fails to stop lira hitting record low against Western currencies
Zimbabwe governor says return of local currency is not on the cards
Gideon Gono issues post-election statement on country's multi-currency regime; tells banks and investors to stop panicking and get on with their boardroom strategies
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