Interbank Market News Scan: Remittances to Pakistan decline; Chinese bonds offering safe haven for investors concerned about volatility …

Alton Drew,

Interbank, Ghana, cedi. “Uncertainties surrounding the country’s ongoing access to forex are causing speculations on the FX market which has effectively driven the spread between cedi depreciation on the interbank and the retail markets.” See article here. Source: GhanaWeb

Interbank, China, yuan. “Holdings of Chinese government bonds by offshore investors rose in January despite a steep drop in yield premiums over U.S. government debt, as investors continued to seek safe havens from inflation and rising rates afflicting other markets.” See article here. Source: Nasdaq

Interbank, Pakistan, rupee. “Rupee slipped 0.13 percent (-23 paisa) against the US dollar last week despite recent inflows from the International Monetary Fund.” See article here. Source: Daily Times

Interbank, China, bonds. “China’s interbank treasury bond index in net price opened at 996.19 points Monday, lower than the previous close of 997.24 points, according to the China Foreign Exchange Trade System.” See article here. Source: China.org.cn

Foreign exchange rates and dollar index as of 5:20 am EDT

EUR/USD=1.13456

GBP/USD=1.35484

USD/MXN=20.5234

USD/GTQ=7.51781

USD/NGN=416.51

USD/GHS=6.32313

USD/VND=22,686.8

USD/JPY=115.451

USD/KRW=1,199.56

USD/INR=75.412

USD/BTC=0.00002

USD/ETH=0.00034

Source: OANDA

Dollar Index=96.29

Source: MarketWatch

Published by Alton Drew

I graduated from The Florida State University with a Bachelor of Science in economics and political science (1984); a Master of Public Administration (1993); and a Juris Doctor (1999). I am a member of the Maryland Bar and practice political law. You can follow me on Twitter @altondrew. You can email me at altondrew@altondrew.com.