Interbank market news scan: Central banks, foreign exchange; New Zealand stands pat on interest rates …

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The Central Bank of Nigeria (CBN) sold a total of $10.308 billion in the foreign exchange (FX) market in the first six months of 2020. Nigeria: FX Market – CBN Intervened With U.S.$10.308 Billion in Six Months – allAfrica.com

A Canadian energy firm became the world’s first nonfinancial issuer to sell debt linked to the main LIBOR alternative, a boost for policymakers in their struggle to encourage market adoption of the new financial benchmark. Corporate Bond Sale Boosts Campaign to Kill off LIBOR | Treasury & Risk (treasuryandrisk.com)

Central bank support for pandemic-hit economies looks to endure well past the recovery in output, leaving investors little option but to keep chasing a parabolic bull market until the fabled “punch bowl” is eventually removed. Column: Central Bank ‘Punch Bowl’ Still Brimming for Markets | Investing News | US News

New Zealand’s central bank is expected to leave interest rates unchanged at its first monetary policy decision of 2021 next week, as the economy rebounds faster from the coronavirus pandemic, but any tightening is still a long way off. New Zealand central bank to stand pat as economy rebounds – Reuters poll (msn.com)

Northern Trust (Nasdaq: NTRS) is experiencing strong demand for its Foreign Exchange (FX) currency management services with a number of significant new mandates over the past 12 months. Northern Trust Expands Foreign Exchange Currency Management Services Footprint with Key New Mandates (apnews.com)

Currency pairsExchange Rate as of 4:15 pm 16 February 2021(1) As of 8:24 am EST Exchange Rate as of 19 February 2021(2)(3)
AUD/USD0.7762 0.7859
USD/CAD1.2694 1.2612
USD/CNY6.4567 6.4540
EUR/USD1.2126 1.2135
USD/INR72.6000 72.4710
GBP/USD1.3855 1.4001
USD/JPY104.9400 105.3800
USD/MXN19.9300 20.3620
USD/DKK6.1325 6.1264
USD/NOK8.4558 8.4253
BTC/USD  51,893.7000
ETH/USD  1,896.1500
Sources: Federal Reserve(1); Reuters-FX rates(2), OANDA-crypto rates(3)

Interbank market scan: Foreign exchange and Central banks …

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There is no doubt that the recent central bank reaction is expected given the exigency of the suffocating situation of the Nigeria economy as it struggles to keep its head above water in the devastating environment of the ravaging pandemic. The Central Bank of Nigeria recently harvested wide-ranging criticism following its sudden directives to deposit money banks to sever all dealings with account holders certified to have any dealings in digital currency. THE BAN ON DIGITAL CURRENCY | THISDAYLIVE

Twitter CEO Jack Dorsey and rapper Jay-Z want to make Bitcoin the “internet’s currency.” The two are putting their digital money where their mouths are by forming a blind trust to work on the mission. Jay Z and Twitter CEO Jack Dorsey want to make Bitcoin the ‘internet’s currency’ – CNET

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said they are analyzing and reviewing the currency denominational structure as the country transitions into a cash-lite and non-coin society. BSP reviews currency for cash-lite, coinless society – Manila Bulletin (mb.com.ph)

London was overtaken by Amsterdam as the main European market centre in January, as more shares were traded in the Dutch capital. London dominating EU with almost half of world’s currency trading despite Amsterdam surge (msn.com)

Currency pairsExchange Rate as of 4:15 pm 8 February 2021(1) As of 10:09 pm EST Exchange Rate as of 14 February 2021(2)
AUD/USD0.7656 0.7768
USD/CAD1.2781 1.2678
USD/CNY6.4664 6.4542
EUR/USD1.2035 1.2128
USD/INR72.8500 72.5700
GBP/USD1.3714 1.3868
USD/JPY105.4400 105.0400
USD/MXN20.1300 19.9154
USD/DKK6.1785 6.1338
USD/NOK8.5428 8.4263
Sources: Federal Reserve (1) ; Reuters (2)