Interbank Market News Scan: Russian central bank ability to sell roubles Monday implies an unknown market participant; claims internal substitute for SWIFT.

Alton Drew,

Interbank, Russian, ruble, central bank. “Russia’s central bank more than doubled its key policy rate on Monday and introduced some capital controls as the country faced deepening economic isolation, but its governor said sanctions had stopped it selling foreign currency to prop up the rouble.” See article here. Source: US News and World Report.

Interbank, Russia, rouble. “Russia’s rouble tumbled to trade above 100 a dollar on Monday, as investors fretted about the fallout from biting Western sanctions against the country, but a slew of central bank measures including a large rate hike helped it off record lows.” See article here. Source: Nasdaq.

Interbank, Russia, oil markets. “The heavy new round of sanctions on Russia by the U.S. and its allies are likely to push oil prices — and inflation — even higher.” See article here. Source: CNBC.

Interbank, banks, liquidity. “Banks are an essential part of the financial eco-system. Their collapse can have a cascading effect on the rest of the economy.” See article here. Source: Capital.com.

Interbank, China, overnight rate. “The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, edged up 0.3 basis points to 2.234 percent Monday.” See article here. Source: China.org.cn.

Interbank, Pakistan. “The Interbank US dollar (USD) against Pakistani rupee (PKR) Closing exchange rate is Rs175.25 at 8:30 am PST on March 1st, 2022.” See article here. Source: BOL News.

Foreign exchange rates as of 8:54 am AST

EUR/USD=1.11917

GBP/USD=1.33881

USD/CAD=1.27352

USD/MXN=20.5102

USD/JPY=115.336

USD/NGN=415.632

USD/INR=75.3584

USD/CNY=6.3095

Source: OANDA

Dollar Index=97.01

Source: MarketWatch

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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.