In the news ….
The foreign exchange reserves held by the central bank rose 0.25% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. https://tribune.com.pk/story/2282653/foreign-exchange-sbp-reserves-rise-33m-to-13b
The central bank has amended foreign-exchange regulations for companies and individuals to give it more flexibility in curbing currency speculation in a timely fashion. https://www.taipeitimes.com/News/biz/archives/2021/02/05/2003751784
Central banks of major economies, such as the U.S., the EU and Japan, have begun expanding their balance sheets by buying assets to inject liquidity into the market. The unconventional monetary policies are expected to stimulate the sluggish economies that were hit hard by the pandemic in 2020. The three major central banks cumulatively added $8 trillion, or is 2.5 times China‘s foreign exchange reserves, to their balance sheets in 2020. https://news.cgtn.com/news/2021-02-04/West-s-central-bank-balance-sheets-jump-by-250-China-s-forex-reserves-XBmXCNlsPe/index.html
The European Central Bank announced on Thursday that it has extended temporary euro liquidity lines until March 2022, as reported by Reuters. The extensions are with the central banks of Croatia, Albania, Hungary, the Republic of North Macedonia, San Marino, Romania and Serbia, the ECB noted in its press release. https://www.fxstreet.com/news/ecb-extending-bilateral-euro-liquidity-lines-with-non-euro-area-central-banks-202102041124
The Federal Reserve Bank of New York today announced the selection of additional counterparties to support, as applicable, agency commercial mortgage backed securities (agency CMBS) purchases and the Commercial Paper Funding Facility (CPFF). New York Fed Selects Additional Firms To Broaden its Counterparty Base for Agency CMBS and CPFF – FEDERAL RESERVE BANK of NEW YORK
