Interbank Market News Scan: The Caribbean, foreign exchange, and interdealer …

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Interbank. The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, decreased 4 basis points to 2.187 percent Tuesday.  http://www.china.org.cn/china/Off_the_Wire/2021-06/01/content_77540607.htm

Interbank. The Korea Interbank Offered Rates (KORIBOR) as posted by Yonhap Infomax, the financial news and information arm of Yonhap News Agency, at 11:00 a.m. https://en.yna.co.kr/view/AEN20210601004000320

Interbank. Chile’s peso outperformed Latin American peers on Monday as prices for the country’s top export, copper,rose on supply concerns, while the Peruvian sol fell ahead of final round presidential elections on June 6. https://www.reuters.com/article/emerging-markets-latam/emerging-markets-chiles-peso-outperforms-perus-sol-drops-ahead-of-elections-idUSL2N2NI1E4

Interdealer. Dealers saw some buying on the first day of June, perhaps motivated by the Bank of Japan not making any changes to its bond buying plan, but flows in the interdealer market were very light. With no JGB auction or BoJ bond buying operations scheduled for today, the market may be waiting for the US bond market to reopen after yesterday’s Memorial Day holiday and provide near-term direction to JGBs. https://www.nasdaq.com/articles/jpn-govts-close%3A-jgbs-do-little-all-day-interdealer-market-very-quiet-2021-06-01

Foreign exchange. China’s central bank said on Monday that it would raise the amount of money that financial institutions must set aside as reserves for their foreign exchange deposits, in the latest move to curb the yuan’s recent rapid appreciation. https://www.scmp.com/economy/china-economy/article/3135520/chinas-central-bank-moves-slow-yuans-rise-concerns-rise-over

Foreign exchange. The dollar hovered near five-month lows on Tuesday as investors waited for euro zone inflation data and a U.S. manufacturing survey, while the yuan steadied after China’s central bank took steps to limit its appreciation. https://www.cnbc.com/2021/06/01/forex-markets-dollar-us-federal-reserve-british-pound.html

Foreign exchange rates of interest: Eastern Caribbean, Guyana, Trinidad and Tobago …

Currency PairsRates as of 10:30 am AST 1 June 2021
EUR/XCD3.2959
GBP/XCD3.8319
USD/XCD2.7000
CAD/XCD2.2364
EUR/TTD8.1434
GBP/TTD9.4676
USD/TTD6.6710
CAD/TTD5.5257
EUR/GYD245.1550
GBP/GYD285.0200
USD/GYD200.8310
CAD/GYD166.3500
Source: OANDA

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