Foreign exchange rates in light of Mnuchin, Powell testimony before the US Senate …

As of  11:23 am AST, 1 December 2020:

How to read the chart:

CAD/USD: If you come to the United States with one Canadian dollar (CAD)and wish to sell it for a US dollar (USD), the market price is .77051 USD.

USD/CAD: If you take a US dollar (USD) to Canada and wish to sell it for a Canadian dollar (CAD), the market price is 1.29766 CAD

CAD/USD=0.77051   USD/CAD=1.29766

CNH/USD= 0.15204   USD/CNH=6.57584

EUR/USD= 1.19642   USD/EUR=0.83573

DKK/USD =0.16075   USD/DKK=6.21944

NGN/USD= 0.00261    USD/NGN=378.336

JPY/USD=0.00960    USD/JPY=104.12

INR/USD=0.01351       USD/INR=73.8918

JMD/USD=0.00675     USD/JMD=145.028

GYD/USD=0.00469       USD/GYD= 205.043

GHS/USD=0.17028    USD/GHS= 5.82869

XCD/USD=0.37037        USD/XCD= 2.70

KES/USD = 0.00900       USD/KES= 109.047

BTC/USD= 16,987.20    USD/BTC= 0.00006

Source: OANDA

Major political/legal events impacting currencies

Today, Steven Mnuchin, Secretary of the U.S. Department of the Treasury, and Jerome Powell, Chairman of the Board of Governors of the Federal Reserve System, are testifying before the U.S. Senate Committee on Banking, Housing and Urban Affairs.  Questions are expected to seek clarification as to Secretary Mnuchin’s request that remaining funds from the CARES Act be sent back to the Congress’ general fund.  Chairman Powell will reiterate the need for fiscal policy in the face of increasing COVID-19 infections and an economy that is still on the rebound.  

Source: U.S. Senate Committee on Banking, Housing and Urban Affairs

As of 9:51 am AST 30 November 2020, Foreign exchange rates between U.S., select countries in East Africa, West Africa, the Caribbean, and Asia, and BitCoin

As of 9:51 am AST, 30 November 2020:

How to read the chart:

CAD/USD: If you come to the United States with one Canadian dollar (CAD)and wish to sell it for a US dollar (USD), the market price is .76954 USD.

USD/CAD: If you take a US dollar (USD) to Canada and wish to sell it for a Canadian dollar (CAD), the market price is 1.29852 CAD

CAD/USD=0.76954   USD/CAD=1.29852

CNH/USD= 0.15205   USD/CNH=6.57348

EUR/USD= 1.19622   USD/EUR=0.83576

DKK/USD =0.16071   USD/DKK=6.21851

NGN/USD= 0.00260    USD/NGN=377.445

JPY/USD=0.00960    USD/JPY=104.06

INR/USD=0.01351       USD/INR=73.7640

JMD/USD=0.00675    USD/JMD=145.165

GYD/USD=0.00468       USD/GYD= 205.117

GHS/USD=0.17037     USD/GHS= 5.82050

XCD/USD=0.37037        USD/XCD= 2.70

KES/USD = 0.00898       USD/KES= 108.719

BBD/USD = 0.50000     USD/BBD = 2.0000

TTD/USD = .14475         USD/TTD= 6.65695

BTC/USD= 16987.20     USD/BTC= 0.00006

Source: OANDA

Major political/legal event impacting foreign exchange

On 27 November 2020, President Donald J. Trump nominated Brian P. Brooks as Comptroller of the Currency for a term of five years.  As Comptroller, Mr Brooks would be responsible for administering the United States’ national banking system as well as the branches of foreign banks doing business in the United States.  Mr Brooks is currently serving as acting Comptroller.  His nomination must be confirmed by the U.S. Senate.

Source: Executive Office of the President

As of 12:04 pm AST 27 November 2020, Foreign exchange rates between U.S., select countries in East Africa, West Africa, the Caribbean, and Asia, and BitCoin

As of 12:04 pm AST, 27 November 2020:

How to read the chart:

CAD/USD: If you come to the United States with one Canadian dollar (CAD)and wish to sell it for a US dollar (USD), the market price is .76870 USD.

USD/CAD: If you take a US dollar (USD) to Canada and wish to sell it for a Canadian dollar (CAD), the market price is 1.30069 CAD

CAD/USD=0.76870   USD/CAD=1.30069

CNH/USD= 0.15229   USD/CNH=6.56495

EUR/USD= 1.19144   USD/EUR=0.83922

DKK/USD =0.16007   USD/DKK=6.24556

NGN/USD= 0.00261    USD/NGN=378.872

JPY/USD=0.00959    USD/JPY=104.28

INR/USD=0.01355       USD/INR=73.7012

JMD/USD=0.00673    USD/JMD=145.545

GYD/USD=0.00469       USD/GYD= 204.941

GHS/USD=0.17070     USD/GHS= 5.83161

XCD/USD=0.37037        USD/XCD= 2.70

KES/USD = 0.00901       USD/KES= 108.870

BTC/USD= 17368.40     USD/BTC= 0.00006

Source: OANDA

Major political/legal event impacting foreign exchange

Basel Committee amends capital requirements for non-performing loan securitisations

The Basel Committee on Banking Supervision yesterday published the technical amendment Capital treatment of securitisations of non-performing loans. The rule, which the Committee started developing before the onset of the Covid-19 pandemic, closes a gap in the Basel framework by setting out prudent and risk sensitive capital requirements for non-performing loan securitisations.

The Committee consulted publicly on the technical amendment in June 2020. In contrast to the consultative proposal, the final rule permits banks to apply the external ratings-based approach to non-performing loans securitisation exposures, without the 100% risk weight floor. In addition, the final rule include discounts on tranche sales in the definition of discount incurred by the originating bank that factors in the capital requirements.

Committee jurisdictions agreed to implement the technical amendment by no later than January 2023. The Committee would like to thank all those who contributed time and effort to express their views during the consultation process.

Source: Bank of International Settlements

As of 12:53 pm AST 25 November 2020, Foreign exchange rates between U.S., select countries in East Africa, West Africa, the Caribbean, and Asia, and Bitcoin

As of  12:53 pm AST, 25 November 2020:

How to read the chart:

CAD/USD: If you come to the United States with one Canadian dollar (CAD)and wish to sell it for a US dollar (USD), the market price is .76700 USD.

USD/CAD: If you take a US dollar (USD) to Canada and wish to sell it for a Canadian dollar (CAD), the market price is 1.30361 CAD

CAD/USD=0.76700   USD/CAD=1.30361

CNH/USD= 0.15198   USD/CNH=6.57876

EUR/USD= 1.18665   USD/EUR=0.84261

DKK/USD =0.15941   USD/DKK=6.27148

NGN/USD= 0.00261    USD/NGN=379.186

JPY/USD=0.00957    USD/JPY=104.49

INR/USD=0.01350       USD/INR=73.9408

JMD/USD=0.00671     USD/JMD=145.984

GYD/USD=0.00468       USD/GYD= 205.237

GHS/USD=0.17068     USD/GHS= 5.82307

XCD/USD=0.37037        USD/XCD= 2.70

KES/USD = 0.00903       USD/KES= 108.669

BTC/USD= 18,846.90     USD/BTC= 0.00005

Source: OANDA

Major legal/political event:

First-time unemployment claims increase

The number of first time unemployment claimants is still high. This morning the U.S. Department of Labor reported that 778,000 Americans filed for unemployment insurance for the first time during the week of November 21st, an increase of some 30,000 claimants from last week. Since the peak of 5,790,250 in April 2020, the moving average of total insured claimants has been trending toward the moving average level pre-Covid-19 but is still more than three times its March 14, 2020 pre-Covid-19 moving average level of approximately 232,500. The labor market still has a way to go before getting back to that point.

Source: U.S. Department of Labor

As of 10:25 am AST 24 November 2020, Foreign exchange rates between U.S., select countries in East Africa, West Africa, the Caribbean, and Asia, and BitCoin

As of  10:25 am AST, 24 November 2020:

How to read the chart:

CAD/USD: If you come to the United States with one Canadian dollar (CAD)and wish to sell it for a US dollar (USD), the market price is .76486 USD.

USD/CAD: If you take a US dollar (USD) to Canada and wish to sell it for a Canadian dollar (CAD), the market price is 1.30725 CAD

CAD/USD=0.76486   USD/CAD=1.30725

CNH/USD= 0.15227   USD/CNH=6.56585

EUR/USD= 1.18633   USD/EUR=0.84284

DKK/USD =0.15930   USD/DKK=6.27554

NGN/USD= 0.00261    USD/NGN=378.884

JPY/USD=0.00961    USD/JPY=104.01

INR/USD=0.01348       USD/INR=74.0457

JMD/USD=0.00672     USD/JMD=145.825

GYD/USD=0.00469       USD/GYD= 204.934

GHS/USD=0.17100     USD/GHS= 5.81368

XCD/USD=0.37037        USD/XCD= 2.70

KES/USD = 0.00905       USD/KES= 108.605

BTC/USD= 18,431.20     USD/BTC= 0.00005

Source: OANDA

Major political/legal event in the United States

Biden to nominate Janet Yellen for Treasury secretary

Axios reports that presumptive U.S. president-elect, Joseph R. Biden, will announce later today his choice of Janet Yellen as U.S. Secretary of the Treasury.  Ms Yellen, 74, served as chairman of the Board of Governors of the Federal Reserve System from 2014 to 2018.

Source: Axios

As of 9:50 am AST 23 November 2020, Foreign exchange rates between U.S., select countries in East Africa, West Africa, the Caribbean, and Asia, and BitCoin

As of 9:50 am AST, 23 November 2020:

How to read the chart:

CAD/USD: If you come to the United States with one Canadian dollar (CAD)and wish to sell it for a US dollar (USD), the market price is .76362 USD.

USD/CAD: If you take a US dollar (USD) to Canada and wish to sell it for a Canadian dollar (CAD), the market price is 1.30914 CAD

CAD/USD=0.76362   USD/CAD=1.30914

CNH/USD= 0.15258   USD/CNH=6.55057

EUR/USD= 1.18551   USD/EUR=0.84331

DKK/USD =0.15913   USD/DKK=6.27877

NGN/USD= 0.00260    USD/NGN=378.095

JPY/USD=0.00962     USD/JPY=103.81

INR/USD=0.01348       USD/INR=73.9600

JMD/USD=0.00673     USD/JMD=145.650

GYD/USD=0.00469       USD/GYD= 204.889

GHS/USD=0.17074     USD/GHS= 5.80300

XCD/USD=0.37037        USD/XCD= 2.70

KES/USD = 0.00905       USD/KES= 108.539

BTC/USD= 18,581.00     USD/BTC= 0.00005

Source: OANDA

Major political/legal event in the United States

On 22 November, the press secretary for the President of the United States issued the following statement at the G20 Leaders Summit:

“President Donald J. Trump participated in the second day of the virtual G20 Leaders Summit on November 22, 2020.  President Trump discussed the economic model he has enacted through cutting taxes and regulations, promoting abundant and affordable energy, and negotiating trade agreements grounded in the principles of fairness and reciprocity.  President Trump expressed the importance of policies that promote workers and families.  He also discussed the historic achievements made in the United States and around the world in empowering and investing in women, and called on all countries to do more.  President Trump thanked Saudi Arabia for its leadership during its G20 presidency and looked forward to working with Italy as incoming G20 president.  He also encouraged the G20 to continue to work together to achieve security, prosperity, and peace for all nations.”

Source: Executive Office of the President of the United States