Interbank Market News Scan: Eastern Caribbean, foreign exchange …

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24 June 2021

Eastern Caribbean Central Bank-interest rates

ECCB Fixed Deposit Rate-1 month0%
ECCB Fixed Deposit Rate-2 months0%
ECCB Fixed Deposit Rate-3 months0%
ECCU (1) Minimum Savings Deposit Rate2%
ECCB Discount Rate2%
Source: Eastern Caribbean Central Bank
  • (1) Eastern Caribbean Currency Union

Foreign exchange rates of interest

Where base currency is XCDRates as of 1:15 am AST 24 June 2021Where term currency is XCDRates as of 1:30 am AST 24 June 2021
XCD/EUR0.3103EUR/XCD3.2222
XCD/GBP0.2653GBP/XCD3.7689
XCD/USD0.3704USD/XCD2.7000
XCD/CAD0.4556CAD/XCD2.1946
XCD/NGN151.8860NGN/XCD0.0066
XCD/CNY2.3986CNY/XCD0.4168
XCD/PLN1.4026PLN/XCD0.7122
XCD/PEN1.4509PEN/XCD0.6771
Source: OANDA

Foreign exchange. On 26 May 2021, the Cabinet of Ministers of Ukraine adopted the Resolution adopted a Resolution setting out the procedure the tax authority should use to fine legal entities for violating currency legislation. https://www.lexology.com/library/detail.aspx?g=b6a6e9df-ddaa-49c7-821a-355d5b0cf097

Foreign exchange. The U.S. dollar vacillated below an 11-week high versus major peers on Thursday as traders attempted to navigate conflicting signals from Federal Reserve officials on the timing of a withdrawal of monetary stimulus. https://www.cnbc.com/2021/06/24/forex-markets-dollar-us-federal-reserve.html

Interbank. Flour millers in Nigeria are turning to the street market for dollars to buy wheat after the central bank restricted the use of the U.S. currency to buy grain imports, according to the country’s third-largest operator. https://www.bloomberg.com/news/articles/2021-06-23/nigeria-flour-millers-squeezed-by-central-bank-ban-on-imports?sref=oriheOus

Interbank. The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China‘s interbank market, decreased 9.3 basis points to 2.208 percent Wednesday. http://www.china.org.cn/china/Off_the_Wire/2021-06/23/content_77581796.htm Interbank. China’s central bank boosted its short-term cash injection for the first time since March as it sought to cater to a growing demand for liquidity while keeping leverage in check. https://www.bloomberg.com/news/articles/2021-06-24/china-lifts-short-term-cash-injection-for-first-time-since-march?sref=oriheOus

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