丝络谈TM的动态

Major Russian banks have urged the central bank to address a shortage of yuan liquidity, which has caused the rouble to plunge to its lowest level since April against the Chinese currency. On September 4, the rouble depreciated by almost 5% against the yuan on the Moscow Stock Exchange (MOEX), partly driven by the finance ministry's announcement of reduced forex interventions. The central bank’s daily yuan sales are set to drop to the equivalent of $200 million, down from the $7.3 billion per day it had been selling in the past month. This sharp decline in yuan liquidity has also pushed swap rates for the currency into triple digits. The liquidity crisis worsened after Russian oil giant Rosneft issued 15 billion yuan in bonds, draining more yuan from the market. German Gref, CEO of Sberbank, stated that Russian banks are unable to lend in yuan due to a lack of foreign currency to cover their positions, and called for increased intervention from the central bank to stabilize the market. Russia and China have been discussing the creation of a joint system for bilateral payments in their national currencies, but there has been no significant progress so far. Andrei Kostin, CEO of VTB Bank, pointed out that since Russia and China's trade is balanced, setting up a clearing mechanism for payments in their respective currencies should not pose significant challenges. #Forexnews #News

03 April 2024 DE-DOLLARIZATION GOES ON, AND ON BRICS' member China is going to launch local currency swaps with 29 developing countries worth 4 trillion yuan ($553.49 billion), in which the US dollar will play no role, in order to facilitate trade and investment and to maintain a global financial safety net, said Pan Gongsheng, Governor of the People’s Bank of China, during the Boao Forum for Asia Annual Conference 2024, held in March. “Bilateral currency swaps can provide emergency liquidity support in times of turmoil in international financial markets and banking crises in some countries,” Gongsheng said to Reuters. The currency swaps should help BRICS to cut ties with the US dollar: “China’s bilateral currency swaps with selected countries also formed an important part of IMF-led international bailout relief package,” Gongsheng added. #economy #brics #china #currency #currencies #swaps #yuan #pbc #pboc #centralbanks #dollar #usdollar #liquidity #asia #dollar #usdollar #imf #dedollarization

Major Russian banks have urged the central bank to address a shortage of yuan liquidity, which has caused the rouble to plunge to its lowest level since April against the Chinese currency. On September 4, the rouble depreciated by almost 5% against the yuan on the Moscow Stock Exchange (MOEX), partly driven by the finance ministry's announcement of reduced forex interventions. The central bank’s daily yuan sales are set to drop to the equivalent of $200 million, down from the $7.3 billion per day it had been selling in the past month. This sharp decline in yuan liquidity has also pushed swap rates for the currency into triple digits. The liquidity crisis worsened after Russian oil giant Rosneft issued 15 billion yuan in bonds, draining more yuan from the market. German Gref, CEO of Sberbank, stated that Russian banks are unable to lend in yuan due to a lack of foreign currency to cover their positions, and called for increased intervention from the central bank to stabilize the market. Russia and China have been discussing the creation of a joint system for bilateral payments in their national currencies, but there has been no significant progress so far. Andrei Kostin, CEO of VTB Bank, pointed out that since Russia and China's trade is balanced, setting up a clearing mechanism for payments in their respective currencies should not pose significant challenges. #Forexnews #News

De-Dollarization: A Gradual Shift from US Currency Control. Insightful Analysis by Robert Wade The US dollar's role as the global reserve currency is being challenged due to its use as a financial tool against countries like Russia and Iran. This has motivated nations, including the BRICS, to seek alternatives to the dollar, such as new international currencies and diversifying trade currencies, particularly in oil. While the shift away from dollar dominance is underway, a complete transition could take decades https://lnkd.in/g7xiYynw

Is the USD's global dominance under threat? The recent Kazan move sparks fresh debates on de-dollarization, with BRICS+ nations ramping up trade and financial settlements in local currencies. But to truly challenge the USD, these countries need stronger positions in global oil production. Want to dive deeper? Abhijit Mukhopadhyay breaks it down: https://lnkd.in/gDDJxVKy #Geoeconomics #InternationalPaymentsSystem #EmergingMarketCurrencies #OilTrade #CrudeOil #USDollar #CentralBanks #PolicyMatters?

Should you start hedging against The US Dollar? A rise of new global currency reduces the global demand for the dollar, it could weaken the US economy's influence and its ability to finance its deficits. ->Loss of currency Seigniorage ->Reduced Demand for US Assets ->Challenges for International Trade ->Loss of value ->Exchange Rate Volatility ->Inflation This new reserve currency won't just be about substituting the US Dollar. It is bigger than that! It's about restructuring the entire system ?? How can exposure to currency risk be minimized strategically? #usdollar #Currency #reservecurrency #porfolio #

African currency reforms seem to be the real deal, but some are more sealed than others! Also, latest progress reports on digital currencies around the world. ? Read ECA's latest blog post,?March currency review,?to find out more #currencyreview #ecainternational

[BOK chief says won will level off if Middle East conflict eases] Won loses over 7 percent of its value against dollar this year Bank of Korea Governor Rhee Chang-yong, during his visit to the United States, projected the volatility of the won-dollar exchange rate would ease if the Middle East tension did not escalate further. The won-dollar exchange rate has been fluctuating heavily over the past few weeks, influenced by the strong demand for the greenback, with the anticipation that the US Federal Reserve will continue its aggressive monetary tightening due to the hotter-than-expected inflation readings. The strong safe-haven demand for the US dollar evoked by the Iran-Israel conflict also fueled the devaluation of the Korean won. “If the war does not further expand, there will not be much difficulties in managing the exchange rate,” Rhee said in a press conference held in Washington on Friday. The event was held on the sidelines of the International Monetary Fund and Group of 20 finance leaders' spring meetings. Tap below to read full story. #currency #Korea #RheeChangyong #BOK #rate #forex #IMF #exchangerate #devaluation #monetary https://lnkd.in/gy8xf2uN

In early trade, the Malaysian ringgit has shown a dual movement by easing against the US dollar while strengthening against other major currencies. #Ringgit #CurrencyTrade #ForexMarket https://lnkd.in/gViPhUDE

SDR,, what is it? SDR stands for Special Drawing Right. It's an international reserve asset created by the International Monetary Fund (IMF) to supplement existing foreign exchange reserves. it looks like a form of international money. Member countries can borrow SDRs from the IMF to address balance-of-payments needs, and it's essentially a basket of currencies—the value is determined by the value of those currencies. How SDR measured ? SDRs are measured by a weighted average of the values of a basket of currencies. The basket changes over time to reflect the importance of different currencies in international trade and finance. The weights are adjusted periodically by the IMF. So, the value of an SDR isn't a fixed amount, but rather a constantly fluctuating value tied to the market values of the currencies in its basket. What are those currencies tied roughly SDR ? The currencies currently included in the SDR basket are: * US dolla * Euro * Japanese yen * Pound sterling * Chinese renminbi #IMF #economy #international_finance