Interbank Market News Scan for 15 July 2022 as of 9:52 am EDT. Is China refueling its carry trade?

FX rates as of 9:34 am 15 July 2022

Currency PairExchange Rate

Source: OANDA 

Interbank, China, carry trade. “Easy liquidity conditions in China are fueling a lucrative carry trade in bonds, with traders betting the gains will be sustained despite signs the central bank is moving toward normalizing monetary policy.” Yahoo! Finance.

Interbank, Pakistan. “The rupee recovered 8 paise to settle at 79.91 (provisional) against the US currency on Friday, tracking heavy buying in domestic equities and weakness in the greenback overseas.” MSN.

Interbank, China, RMB, Shibor. The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, increased 1.6 basis points to 1.211 percent Friday.

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