FX reserves
Banxico’s Garcia on the intervention unwind and FX hedging
The Bank of Mexico’s operations head explains why it’s removing its forwards hedges, and how it manages carry costs
Brazil ramps up FX interventions to defend real
Governor Campos Neto says fall “is not justified by fundamentals”
If stablecoins are money, they should be backed by reserves
The growth of stablecoins could reduce the supply of safe collateral available to markets
Central banks must mobilise their FX reserves
Pandemic and climate crises call for bold action, write Gary Smith and John Nugée
Bank of Israel announces major increase in FX interventions
Central bank announces FX spend in advance for first time and pledges 40% increase
Public policy lines blur: implications for reserve managers
Crisis-fighting has pushed central banks into new forms of risk-taking, and this is now spilling into reserve management, says Jennifer Johnson-Calari
Taiwanese central bank asks for smaller dollar trades
Large dollar orders may slow down foreign exchange transactions, central bank says
Turkey turmoil opens door to offshore NDF market
Emta openly discussing documentation for offshore lira
Turkey bans dealers from trading with BNP, Citi and UBS
Lira rallied after action, but respite for the currency may be brief
Colombia culls external reserve manager to boost competition
From 2016–18, the central bank reduced the number of institutions from seven to six
Iceland boosts reserves despite volatility in 2019
Central bank carried out FX interventions to offset “abrupt weakening” of krona
Chile’s FX intervention likely to stabilise peso
But much depends on the reform programme the government chooses to adopt
Chile to sell $400m a day in first week of FX interventions
Central bank selling $200 million in spot market and $200 million in 30-day forwards
Brazil sells dollars as real falls to record low
Currency declines 11.3% against dollar since July, as central bank cuts interest rates by 150bp to new low of 5%
Dominican Republic sells dollars to support peso
Dominican currency has been one of the stronger performers in the region
Argentina opens IMF talks as crisis deepens
Government extends debt maturity and pledges reserves will not be used to repay international investors
Argentine central bank tries to halt peso’s slide
Peso falls after primary election results come as blow for President Macri
China discloses FX portfolio for first time
Report shows ratio of US dollar-denominated assets declined to 58% in 2014, from 79% in 1995
Shekel’s strength clouds Bank of Israel’s inflation outlook
Economists ponder whether central bank actions contribute to lower prices and what priorities it should consider in the near future
US Treasury designates China a currency manipulator
Renminbi crosses barrier of seven yuan per US dollar amid growing trade tensions on August 5
Turkey increases reserve requirements on FX deposits
Authorities aim to discourage citizens from transferring assets into other currencies, weakening the lira