Foreign exchange
Argentine central bank orders foreign exchange sales
BCRA also bans “payments in instalments” for overseas travel as currency weakens
Bank of Tanzania ‘working on CBDC’, governor says
Luoga says “cryptocurrencies are not safe” and president has urged work on CBDC
Sri Lankan central bank holds rates despite rising inflation
Authorities face FX crisis as prices increase at fastest level in four years
Protecting international standard-setting despite the resurgence of politics
Andreas Dombret, global senior adviser, and Oliver Wünsch, partner, at Oliver Wyman, describe the importance of international standard-setting amid increasing political interference.
Turkish currency hits new low as central bank cuts rates again
Move follows Erdoğan’s dismissal of two deputy governors and one MPC member
Finding room for ESG
Central Banking speaks to four policy-makers for their thoughts on ESG principles, their respective institutions’ approaches, potential restrictions and an update on integration.
Sri Lankan central bank takes emergency measures as FX crisis deepens
Central bank will securitise remittances to fund reserves, but statement hints at steep fall in inflows
UK and China renew bilateral swap line
350 billion yuan swap line extended for a further five years
ESG reserves adoption challenged by reliance on sovereign bonds
Higher issuance of government-compliant bonds is insufficient to offer investable alternatives to central banks.
Argentine central bank freezes banks’ FX purchases
BCRA order comes amid a falling peso, IMF talks and mid-term elections
Poland raises policy rate by 75 basis points
National Bank cites high inflation, which it expects to linger through 2022
Saudi Arabia gives $3 billion to Egyptian central bank
Donation is pandemic aid, and follows similar deposit with Pakistan central bank
Saudi Arabia boosts Pakistan’s reserves
Package from Saudi development fund comes as Pakistan’s balance of payments issues ease
Nigeria launches ‘digital naira’ pilot
Central bank issues $1.2 million in retail CBDC after clampdown on private crypto
Europe leads on gold lending and swaps
Just over 20% of central banks engage in these operations
Investment committees play dual reserve benchmark roles
Final decision made by committees at half of responding central banks
Chilean president grants Marcel new term as governor
Central bank leader faces continued challenges from pandemic and rapid political change
Iranian court sentences former governor to 10 years in prison
Valiollah Seif convicted of currency offences, but reportedly remains free pending appeal
Brazil central bank spends $1bn to support real
Local currency has declined more than 10% against the dollar since June
Uruguayan central bank makes second rate increase in a row
Central bank aims to end “expansive” monetary policy and guide inflation to target range
Iran appoints third governor this year
Ali Salehabadi joins central bank three months after predecessor took office
Many central banks are sole macro-pru agency
Two-thirds of respondents say central bank alone can impose macro-prudential restrictions
Turkey raises banks’ gold and FX reserve levels
Central bank announces work with state-owned organisations on prototype CBDC
Majority of central banks have power to issue debt for monetary purposes
Central banks pointed to draining liquidity as a reason for issuing debt