Sanctions
UAE grants licence to Russian bank
US voices concerns over sanctions evasion and threatens action against facilitators
Iran and Russia to link banking systems to bypass sanctions
Move follows Iran’s signing of free trade “memorandum” with Russia-led EAEU
Sanctions fear drives surge in central bank gold purchases
China, Turkey and India are largest declared buyers, while Russia probably bought big quantities
DNB fines Coinbase for ‘severe’ non-compliance
Crypto exchange fined €3.3 million for operating without registration
Cuban foreign exchange reserves have fallen, state says
Unusual disclosure in official publication sparks speculation about country’s financial position
Russia and Iran discuss joint gold-backed stablecoin
Digital currency would be used for foreign trade settlements in special economic zone
The always imminent demise of the global dollar
Creating effective alternatives will remain long and arduous despite China’s development of Cips, the mCBDC bridge and any oil-price redenomination, writes Barry Eichengreen
Bank of Russia restarts open FX trading to support ruble
Ruble will trade openly against yuan as Russian dependence on Chinese markets appears to grow
Russia developing cross-border CBDC settlement
Research into two proposed models for digital ruble exports to begin in Q1
Reserve Benchmarks 2022 – presentation
Reserves specialist Victor Mendez-Barreira speaks with Chris Jeffery about staffing and salaries, the inflation challenge, Bank of Russia sanctions, green investments, asset diversification, and reserve levels and liquidity lines.
Iran appoints new governor amid protests and plummeting rial
Farzin becomes fourth head of central bank in less than two years
The rise of non-SDR currency reserves
New Cofer data release may show an overall fall in FX reserves, writes Gary Smith
Bank of Russia eases disclosure rules on digital asset firms
Moves designed to ease sanction pressure, as Nabiullina signals use of crypto for international trade
The canary in the goldmine
Gold accumulation may herald broader concerns about dollar holdings, writes Jennifer Johnson-Calari
Armenia’s Galstyan calls for a new framework to tackle uncertainty and nonlinearities
Central Bank of Armenia governor says central banks can start to regain credibility by admitting their mistakes. This could include employing a risk-management approach to monetary policy aimed at avoiding nonlinear ‘dark corners’ and placing much less…
Currency round-up: BEAC to launch new banknote series
Afghanistan permitted to import new notes; Canada shortlists banknote figures; and more
Nicaragua raises policy rate for sixth time this year
Country’s economy has recovered from long recession, but inflation remains high
Central bank assets enjoy ‘99%’ immunity
Why central bank assets possess legal immunity – but not from sanctions
Book notes: Yellen, by Jon Hilsenrath
This book offers new insights into the tough decisions and tremendous efforts Yellen has made as a pre-eminent economic policy-maker
Should a CBDC really be like cash?
Electronic and physical cash are fundamentally different and must be treated as such, writes Dave Birch
Belarus’s governor predicts inflation will fall
Government imposed price controls after sanctions helped push inflation into double digits
FATF puts Myanmar on money-laundering blacklist
Move may increase economic pressure on military junta as currency crisis grows
Banks in Kyrgyzstan suspend Mir
Operations limited in Kazakhstan, Uzbekistan, Turkey and Vietnam on threat of US sanctions
Asset sovereignty: a problem to stump Solomon
When states have rival governments, who owns central bank assets?