Links you should follow ….
Interbank. China Development Bank has issued US$2bn of domestic US dollar bonds in China’s interbank market, its first such issuance in six years, according to a statement on its website. https://www.nasdaq.com/articles/cdb-prints-first-domestic-usd-bonds-in-six-years-2021-06-04
Interbank. The People’s Bank of China, the central bank, has urged commercial banks to abandon the London Interbank Offered Rate for dollar-denominated loans having a floating-rate benchmark. http://global.chinadaily.com.cn/a/202106/03/WS60b82ddca31024ad0bac34a6.html Remittances. Moroccans residing abroad (MREs) have sent back nearly $3.3 billion (MAD 28.8 billion) in remittances in the first four months of the year. https://www.moroccoworldnews.com/2021/06/342716/morocco-sees-45-3-increase-in-remittances-in-first-quarter-of-2021
Banks. The pace of interest rate hikes by emerging market central banks slowed in May as policy makers in developing nations face uneven economic recoveries from the COVID-19 pandemic. https://www.reuters.com/article/emerging-rates/graphic-grinding-higher-emerging-market-central-banks-raise-rates-in-may-idUSL5N2NM29S
Banks. If you’ve looked at your savings account statement recently, you may have noticed a lower interest rate than you were expecting. Perhaps as low as 0.06%. This is not a typo. https://www.forbes.com/sites/forbesfinancecouncil/2021/06/04/why-digital-banks-offer-higher-interest-rates-on-savings-accounts/?sh=325769ed6ccc
Banks. Some global banks, funds and other financial services providers say they are stepping up hiring in Hong Kong, in a sign the city’s unique position as a financial gateway to China is outweighing concerns about Beijing’s tightening grip over it. https://www.reuters.com/business/finance/banks-bulk-up-hong-kong-china-business-overshadows-politics-2021-06-03/
Payment systems. The United States’ restaurant delivery marketplace seems like a complex tangle of emerging and incumbent delivery services, technological platforms and payment methods, but it has nothing on Europe’s. https://www.pymnts.com/restaurant-innovation/2021/limonetik-on-how-payment-methods-can-make-or-break-food-marketplaces-international-expansion/
Payment systems. Russia’s central bank governor, Elvira Nabiullina, has said for CNBC that digital currencies will be the future of financial systems, as the economy moves online. https://thepaypers.com/payments-general/the-digital-rouble-could-help-russia-bypass-the-swift-banking-payment-system–1249437
Foreign exchange rates of interest, 30-day trading range; 5 May 2021 to 4 June 2021
Source: OANDA
| Currency Pairs | Rates as of 11:20 am AST 4 June 2021 | Rates as of 10:30 am AST 5 May 2021 | Percentage Change |
| XCD/EUR | 0.3034 | 0.3085 | -1.7% |
| XCD/GBP | 0.2619 | 0.2664 | -1.7% |
| XCD/USD | 0.3704 | 0.3704 | flat |
| XCD/CAD | 0.4473 | 0.4548 | -1.6% |
| TTD/EUR | 0.1191 | 0.1206 | -1.2% |
| TTD/GBP | 0.1023 | 0.1041 | -1.7% |
| TTD/USD | 0.1449 | 0.1448 | flat |
| TTD/CAD | 0.1750 | 0.1778 | -1.6% |
| GYD/EUR | 0.0038 | 0.0038 | flat |
| GYD/GBP | 0.0033 | 0.0033 | flat |
| GYD/USD | 0.0046 | 0.0046 | flat |
| GYD/CAD | 0.0056 | 0.0056 | flat |
For the period 5 May 2021 to 4 June 2021, the Eastern Caribbean saw a continued fall in exchange rates between the European Union (-1.7%); Great Britain (-1.7%); and Canada (-1.6%). The XCD is pegged to the U.S. dollar and for that reason remained flat.
The Trinidad and Tobago dollar saw its price fall over the same period in terms of the euro (-1.2%); the pound (-1.7%); and the Canadian dollar (-1.6%). The U.S. dollar price for the TTD remained flat over that period.
The euro, dollar, pound, and loonie rate of the Guyanese dollar remained flat during the 5 May 2021-4 June 2021 period.
Alton Drew 