Interbank Market News Scan: China tightens regulations on foreign exchange market….

Photo by Anna Nekrashevich on Pexels.com

5 September 2021

Interbank. Chinese officials to tighten foreign exchange market supervision. https://www.forexlive.com/centralbank/!/chinese-officials-to-tighten-foreign-exchange-market-supervision-20210905

Interbank. Nigeria. Naira. Former Deputy Governor of Central Bank of Nigeria(CBN), Dr Obadaiah Melafia weekend attributed the dip of the naira in the foreign exchange market to the bad policies of President Muhammadu Buhari’s administration and the tensions across the country. “Nigeria is a failed state.” https://www.vanguardngr.com/2021/09/dip-of-naira-in-foreign-exchange-market-due-to-buharis-bad-policies-mailafia-alleges/

Interbank. Forex. So what fundamentals are impacting the foreign exchange markets? https://finance.yahoo.com/news/introduction-major-fundamental-influences-forex-080046373.html

Interbank. India. India’s management of foreign exchange reserves results in supporting 18 months of imports. https://www.deccanherald.com/opinion/panorama/management-of-foreign-exchange-reserves-1026066.html

Interbank. Russia. Russia’s central bank provides alternative economic forecast for the next 18 months; one of a severe down-turn vs. moderate inflation. https://www.themoscowtimes.com/2021/09/03/world-economy-could-face-2008-meltdown-russias-central-bank-warns-a74962

Interbank. Brazil. Digital real. The Central Bank of Brazil is still studying the creation of a Digital Real, according to statements given by Fabio Araujo, a representative of the institution. https://news.bitcoin.com/central-bank-of-brazil-researches-creation-of-digital-real/

Interbank. Dollar Index. As of 10:33 pm EST, the Yahoo Market Watch Dollar Index was at 92.16. https://www.marketwatch.com/investing/index/dxy/charts?mod=mw_quote_tab

Central bank decisions as of 5 September 2021, 11:25 pm EST

AUD/USD 0.7437

As of 11:01 pm EST, no Reserve Bank of Australia decisions impacting rates.

NZD/USD 0.7137

As of 11:13 pm EST, no Reserve Bank of New Zealand decisions impacting rates.

USD/JPY 109.8100

As of 11:20 pm EST, no Bank of Japan decisions impacting rates.

USD/CNY

As of 11:24 pm EST, no People’s Bank of China decisions impacting rates.

For a consultation on any regulatory or legislative discussions or announcements, please reach out to us at altondrew@altondrew.com for information on consultation rates and to reserve an appointment.

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Alton Drew

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