Interbank Market News Scan: The Caribbean, foreign exchange …

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25 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 Minimum Savings Deposit Rate2%
ECCB Discount Rate2%
Source: Eastern Caribbean Central Bank

*Eastern Caribbean Currency Union

Foreign exchange rates of interest

Where base currency is XCDRates as of 1:03 am AST 25 June 2021Where term currency is XCDRates as of 1:03 am AST 25 June 2021
XCD/EUR0.3104EUR/XCD3.2216
XCD/GBP0.2657GBP/XCD3.7634
XCD/USD0.3704USD/XCD2.7000
XCD/CAD0.4559CAD/XCD2.1932
XCD/NGN152.1620NGN/XCD0.0066
XCD/CNY2.3963CNY/XCD0.4169
XCD/PLN1.4038PLN/XCD0.7118
XCD/PEN1.4613PEN/XCD0.6723
Source: OANDA

Eastern Caribbean Central Bank.  The Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC) announces two new products aimed at helping regional Micro, Small and Medium Enterprises (MSMEs) rebound and grow their businesses. https://www.eccb-centralbank.org/news/view/ecpcgc-offers-additional-products-to-help-small-businesses

Federal Reserve. The Federal Reserve Board on Thursday released the results of its annual bank stress tests, which showed that large banks continue to have strong capital levels and could continue lending to households and businesses during a severe recession. https://www.federalreserve.gov/newsevents/pressreleases/bcreg20210624a.htm

Foreign exchange. Chinese banks’ stockpile of foreign-currency deposits has surpassed $1 trillion for the first time, creating an opportunity for Beijing to allow greater freedom for capital to flow out of the country. https://www.bloomberg.com/news/articles/2021-06-24/chinese-banks-stockpile-record-1-trillion-of-foreign-currencies?sref=oriheOus

Foreign exchange. The EU is unlikely to grant U.K.-based financial firms automatic market access in all areas post-Brexit, according to a top British minister. https://www.bloomberg.com/news/articles/2021-06-24/u-k-says-equivalence-with-eu-unlikely-in-all-areas-of-finance?sref=oriheOus

Interbank. China’s interbank treasury bond index in net price opened at 985.08 points Friday, higher than the previous close of 984.84 points, according to the China Foreign Exchange Trade System. http://www.china.org.cn/china/Off_the_Wire/2021-06/25/content_77586945.htm

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