Foreign exchange
‘Back to the future’ for FX reserve management
Rise in bond yields changes the dynamics of ‘security, liquidity and return’, writes Gary Smith
Hackers seize South Sudan central bank website
Group demands central bank act to make currency stronger against the dollar
BSP governor says Fed should be ‘more caring’
But Felipe Medalla says Philippines accepts reality of having to react to US monetary policy
Cuba will again allow dollar cash deposits
Decision reverses ban in place since June 2021
Illegal gold trade impacts Ethiopian reserves
Assosa region holds one of the greatest untapped resources of gold in the world
IMF eases Argentina loan terms
Fund approves $5.4 billion payout and lowers reserves targets as drought conditions bite
Bank of Israel warns political turmoil could hit GDP
Central bank slows cycle with 25bp hike, raising key rate to 4.5%
Tech could shake up international monetary system – IMF paper
Inertia likely to maintain status quo in near term, but impact of technology “highly uncertain”
China and Brazil set up infrastructure for renminbi clearing
Move comes as renminbi overtakes euro as Brazil’s second largest reserve currency
IMF approves $15.6 billion for Ukraine
Fund calls wartime loan “unprecedented” and risky
Rates round-up: Kenya raises rates to highest since 2018
Sarb adds 50bp more as economy struggles; Zimbabwe cuts 1,000bp; Mozambique holds
Uruguay’s government will recapitalise central bank
Economist says BCU failed to hedge against exchange rate risks
World faces ‘new investment regime’, says Mauritian governor
Seegolam says “bonds are back” but FX will be volatile
SNB’s Maechler to take deputy role at BIS
Senior Swiss official will replace Luis Awazu Pereira da Silva as deputy general manager
Swift completes cross-border CBDC settlement pilot
Banque de France, Bundesbank and the MAS among central bank participants
Bank of Guyana rejects FX criticism
Country’s FX reserves fell to 1.4 months’ worth of export cover in the autumn
Saudi Arabia gives Turkish central bank $5 billion
Turkish government moves to protect workers from firing in aftermath of earthquake
BIS Project Icebreaker proposes cross-border retail CBDC model
Central banks used smart contracts and worked with FX providers to cut costs and risk
Bolivia sells dollars to public as reserves dwindle
Analysts say central bank may not be able to defend its peg much longer
Argentine minister announces new dollar rate for winemakers
New bid to help exporters and build reserves after success of soy dollar
Pakistan raises rates by 300bp as default risks rise
Authorities struggle to collect taxes and unlock IMF funds
Currency round-up: Ukraine issues war anniversary note
Caymans redesigning banknotes; Travelex expands wholesale business; and more
US court rules plaintiffs cannot seize Afghan reserves
Judge supports earlier ruling that frozen assets belong to Afghan government, not the Taliban
Iran imposes FX controls as currency falls again
Commodities inflation bites ahead of upcoming new year