Foreign exchange
Project Dunbar raises ‘more questions than answers’
BIS’s multi-CBDC project focused on qualitative benefits and trialled small-scale cross-border transfers
Central Banking Awards 2022: first winners unveiled
Governor of the year, Risk manager, two Green initiative awards and more announced today
Uzbekistan central bank orders 300bp rate increase
Board refers to “high uncertainties and tensions in the external economic environment”
Governor of the year: Mario Marcel
Chile’s governor has expertly navigated a third currency crisis while bolstering the BCCh’s capabilities
Bank of Russia bans gold purchases
Central bank says demand for gold increased after VAT was lifted by Putin’s decree
Russian central bank further tightens ruble measures
Ukraine says it has dropped payment ID charges and re-started interbank forex transactions
Bank of Russia caps FX withdrawals and EU sanctions Belarus
Russian depositors can withdraw unlimited rubles but only up to $10,000 in foreign currency
Sudan floats currency
Decision follows adoption of single unified exchange rate
IMF urges Peru to tighten monetary policy
Fund also says FX intervention may be needed short term
Sri Lankan central bank raises rates and clashes with power company
Energy chairman says “power crisis” has been caused by unwise use of foreign exchange
Bank of Russia pauses repo transactions
Central bank increases forex surcharge amid signs of strains on banking liquidity
Ukrainian central bank says lenders and payments remain stable
Shevchenko warns over foreign currency pricing as Russia increases reinsurance capital
Outsider arts: how Russia might adapt to sanctions
The history of the USSR and actions by other sanctioned countries may give clues to Russia’s next moves
Kyrgyz central bank raises rates 150 basis points
Central bank cites “geopolitical risks”, though high inflation was problem long before war
Sanctions prevent Bank of Russia FX interventions
Governor Elvira Nabiullina says central bank has not been able to support plummeting ruble
US, EU and UK tighten sanctions as Nabiullina orders massive rate rise
Bank of Russia implements more emergency measures as currency falls sharply
Poland offers Ukraine swap line as NBU suspends FX transactions
Central bank says payments system is working well but tells citizens to minimise cash use
Diego Labat on policy normalisation, capital flows and tech challenges
Uruguay governor speaks about financialisation, flexible rates vs controls, payment upgrades and CBDCs
Namibia marks first rate hike in six years
Central bank acts to “safeguard” link to South African rand
Turkish government fires statistics head as inflation climbs rapidly
Finance minister meets London investors after official inflation hits highest level since 2002
Sri Lankan governor denies country is seeking IMF deal
Governor publicly contradicts finance minister’s statement on IMF aid as crisis deepens
Lesotho raises rates and increases reserves
Central bank increases policy rate 25bp in bid to defend peg and fight inflation
Suriname courts convict second former governor
Van Trikt receives eight years in prison, weeks after Hoefdraad sentencing
Planned EU cross-border trading ban to hit most large markets
Most major jurisdictions currently provide either interdealer or client exemptions