Interbank market news scan: The United Kingdom moves closer to adopting a central bank digital currency; other news…

Links you should be following:

Central banks, Bank of England. The UK is ahead of the curve when it comes to digital currency adoption, according to new research. A report by PwC reveals the UK is fifth in the world when it comes to preparing for the adoption of a central digital currency although a consumer offer remains a while off yet. UK leads race across Europe to introduce interbank digital currency (msn.com)

Central banks, Central Bank of Nigeria. It is the norm to hear talks around the need for convergence in Nigeria’s foreign exchange (FX) markets. This implies that there is mispricing. Historically, this mispricing has always been between the parallel market rate, which trades at a premium to the CBN’s managed rates across different FX windows. Liquidity, price discovery in Nigeria’s FX market Opinion — The Guardian Nigeria News – Nigeria and World News

Central banks, Federal Reserve. Excess cash in the financial system has pressured overnight interest rates, in some instances pushing them negative, which, analysts said, could prompt the Federal Reserve to lift the short-term rates it manages. EXPLAINER-U.S. repo market flirts with negative rates as Fed seeks to absorb excess cash | Nasdaq

Central Banks, Central Bank of the Bahamas. The Bahamas and Cambodia rank as the two top central bank digital currencies. Bahamas Ranks First in CBDCs, China’s Digital Yuan Third: PwC Report – BeInCrypto

Central banks, Central Bank of India. The rupee advanced by 23 paise to 74.64 against the US dollar in opening trade on Tuesday, tracking weaker dollar against key rivals and a positive trend in the domestic equity market. Forex traders said the government’s decision to open COVID vaccination to all above 18 years from May 1 lifted investor sentiment. Rupee Rises 23 Paise to 74.64 Against US Dollar in Early Trade (msn.com)

The market is opening. The rates to start your day:

As of 8:59 am, Bloomberg reports that the three month yield on U.S. Treasurys is at 0.02% while the two-year comes in at .16%. The ten-year Treasurys are trading at 1.60% and 2.30%, respectively.

The Federal Funds rate, the rate at which banks lend to each other overnight in support of their reserve requirements, is at .07%, while the Fed Funds target rate is still at .25%. The prime lending rate is 3.25%.

The Opening Takeaway: I Expect the Federal Reserve, US Treasury to Pull the Trigger on Cryptocurrency.

Yesterday, the markets saw some pull back in shares for Coinbase (Nasdaq:COIN) with the cryptocurrency exchange closing yesterday at $332.75, down from a high of $409.62 back on 14 April. The pull back was reportedly expected among some analysts as some investors took a little cream off the top. From a market perspective, I was not impressed with the offering. In the end, Coinbase is a market exchange platform for cryptocurrency relying on transactional fees for its survival and maintaining credibility among market participants as an information finder and margin provider for traders.

How well Coinbase does is a direct function of how well cryptocurrency does. As long as cryptocurrency stays in its digital asset lane, it may need not worry about too much regulation. Should it dip its toe further into the currency lane, that is where bitcoin, ethereum, dogecoin, etc., may find themselves in a world of hurt.

A currency’s legitimacy comes from the “king.” The king airdrops the currency throughout his jurisdiction for the purpose of washing and compounding it through a jurisdiction’s merchants, producers, and consumers. The currency says a lot about the economic value of the king’s jurisdiction and to maintain the prevailing narrative the currency represents, the king must control or heavily influence its value and circulation. The decentralized financial mechanism that cryptocurrency survives on does not fit into the command and control scheme of the king.

So far the US Federal Reserve has been ambivalent about its view of cryptocurrency. The US Treasury has been a bit clearer about its view of cryptocurrency as a currency based on Janet Yellen’s concerns about cryptocurrency being used for nefarious activities such as money laundering and drug trafficking. Neither the Federal Reserve or the US Treasury has expressed their concerns based on the philosophical underpinnings of currency, but I believe that when it is time for the central bank and the Treasury Department to pull the public policy trigger, control of the currency will be the ultimate public policy rationale.

Countries such as The Bahamas and Cambodia (see the links above) are not waiting. In the interbank, foreign currency exchange world, The Bahamas and Cambodia are near non-existent, but in the digital space they are the leaders in issuing central bank digital currency, taking digital payments to the next level. Over 60 countries are experimenting with or planning deployment of central bank digital currencies where their fiat currencies are tethered to block chain digital technology. Critics argue the point that outside of the digital tethering, a central bank issued digital currency does not increase the value of the fiat currency much. Maybe.

Other than requiring more use out of your cellphone or apps on your desktop, a central bank bank-issued digital coin may seem like mere aesthetics, but what is being ignored is the increased control that the government and central banks can exercise over the currency. Taking it to the extreme, I can see a government requiring that all transactions conducted within its jurisdiction be done via its central bank-issued digital currency with the primary reason being ensuring the collection of taxes on these transactions while better monitoring nefarious activities. I can see such a move beginning in countries that place less emphasis on free markets or individual privacy. The US will hem and haw over such a move especially when it sees China doing it, but if digitisation puts China out further ahead then I can see the United States capitulating to the new digital reality.

As for bitcoin, ethereum, and other cryptocurrencies, they may end up staying in the digital asset space. Their calling card is built on decentralized finance and opaqueness. They won’t become universally used currency for the masses.

Interbank market news scan: Cryptocurrency advocates moving to bolster their advocacy prowess in DC …

Digital currency. Atlas Organization founder Dr. Jonathan Ward, an expert on Chinese global strategy, discussed how the Biden administration can create competitive policies against China and argued that creating its own digital currency that is controlled by its central bank will “offset” U.S. sanctions, during an interview on FOX Business’ “Mornings with Maria.” China creating own digital currency will ‘offset’ US sanctions: Jonathan Ward | Fox Business

Foreign exchange, digital yuan. The United States’ reliance on economic sanctions to coerce other countries is gradually losing its effectiveness and slowly degrading one of Washington’s most influential tools in international affairs, the power of the U.S. dollar, experts told Newsweek. Sanctions Are Destroying U.S. Dollar’s Status as World’s Top Currency (newsweek.com)

Cryptocurrency. Even as cryptocurrencies steadily gain support on Wall Street, they’re still regarded by regulators as a tool for criminals to conceal shady transactions — posing a challenge to the nascent industry as it seeks to win wider respect. Bitcoin (BTC USD) Cryptocurrency Price News: Industry Forms Lobby to Shed Image – Bloomberg

Digital currency. A cyber yuan gives Beijing power to track spending in real time. Importantly, it’s money that isn’t linked to the dollar-dominated global financial system. Anxiety in the US as China Creates the First Major Digital Currency (thestreet.com)

Foreign exchange, India. Currency exchange rates can turn out to be a real dealbreaker and can cause a dent in an individual’s pocket who is traveling overseas. Even a difference of a few paise while doing currency conversion can make a huge difference in the budget for the trip. It becomes crucial to be aware of the various options while doing currency exchange. Currency Exchange and the related details (msn.com)

Cryptocurrency, Ethereum. Blockchain technology Ethereum has seen its price reach a new all-time high of $2,150 following Visa’s decision to allow cryptocurrency for transactions on its platform. World’s second-biggest cryptocurrency Ethereum hits new high of $2,150 after Visa agrees to allow crypto-payments on its network (msn.com)

Digital currency, Bank of Japan. Japan’s central bank has started trials of a new digital currency in an effort to experiment with how it might be used, the Bank of Japan announced on Monday. The announcement comes after the Chinese government revealed it was doing something very similar with a digital yuan in early March. Japan’s Central Bank Launches One-Year Test of Digital Currency (gizmodo.com)

Currency PairsRates as of 2:30 pm 6 April 2021
EUR/USD1.1853
AUD/USD0.7661
GBP/USD1.3809
USD/JPY109.8700
NZD/USD0.7044
USD/CHF0.9322
USD/NOK8.5005
USD/SEK8.6312
USD/CAD1.2553
  
Selected Rates 
Fed Funds.07
Bank prime rate3.25
Discount window.25
2-yr Treasury.16
10-yr Treasury1.65
30-yr2.31
Source: Bloomberg, Reuters

Interbank market news scan: Crypto rates fall as crypto exchanges seek more support from traditional finance platforms …

The takeaway:

Cryptocurrency exchanges are doing their best to gain increased legitimacy in the world of finance by hiring advocates with knowledge of Washington or taking their increasing valuations on to publicly traded stock exchange platforms. Meanwhile, the Federal Reserve’s decision today to maintain its fed funds rate may continue to drive more investors toward cryptocurrencies as the dollar continues to fall in value relative to other currencies. With low-rates expected through 2023, there is no end in sight for increased crypto valuations, although hiccups are expected along the way. This is not to say that crypto will maintain its hold on the digital currency space. Bitcoin, for example, is not truly anonymous, according to Digitex CEO Richard Byworth. If that is the case, does that give non-anonymous central bank digital currencies less competition in the future?

Also, cryptocurrency saw another fall in valuation as of 11:07 pm EST 17 March 2021.

To see what we’re following, follow the links …

CFTC should review crypto because it’s exploding: Baucus. https://www.bloomberg.com/news/videos/2021-03-12/cftc-should-review-crypto-because-it-s-exploding-baucus-video

Goldman, Citi lead U.S> banks plowing billions into China. https://www.bloomberg.com/news/videos/2021-03-17/goldman-citi-lead-u-s-banks-plowing-billions-into-china-video

Bitcoin may rise to $175,000 by year end. https://www.bloomberg.com/news/videos/2021-03-15/bitcoin-may-rise-to-175-000-by-year-end-diginex-ceo-video

Coinbase Global, the largest cryptocurrency exchange in the US, on Wednesday revealed that the company now has a valuation of $68 billion ahead of its planned direct listing due in large part to recent private transactions, Reuters first reported. https://markets.businessinsider.com/currencies/news/coinbase-ipo-valued-68-billion-ahead-direct-listing-bitcoin-cryptocurrency-2021-3-1030220737

Creator who sold NFT house for $500,000: “We’ll be living in an augmented reality lifestyle soon.” https://www.cnbc.com/2021/03/17/creator-of-first-nft-digital-house-krista-kim-on-augmented-reality-.html

Cryptocurrency exchange rates as of 17 March 2021 11:07 pm

BTC/USD=56,150.30 ETH/USD=1,771.60

BTC/EUR=47,097.80 ETH/EUR=1,485.99

BTC/GBP=40,364.90 ETH/GBP=1,273.55

BTC/AUD=72,505.00 ETH/AUD=2,287.61

BTC/CAD=69,904.10 ETH/CAD=2,205.55

BTC/CHF=51,975.70 ETH/CHF=1,639.89

BTC/JPY=6,124,550.00 ETH/JPY=193,236.00

BTC/CNY=365,010.00 ETH/CNY=11,516.50

Source: OANDA

18 March 2021 12:14 am EST

Interbank market scan: China’s interbank market rate drops; Bitcoin sees a little deceleration …

Links to news you should be following …

India’s foreign-exchange reserves surpassed Russia’s to become the world’s fourth largest, as the South Asian nation’s central bank continues to hoard dollars to cushion the economy against any sudden outflows. India FX Reserves Cross Russia to Become World’s 4th Biggest – Bloomberg

Currency tensions and currency crises are a side effect of many countries failing to manage in the new round of economic globalization that has taken place through increasing flows of multilateral trade and investments that have created a world of currency trades causing economies to depend on global reserve currencies, mainly the US Dollar. Science against Myth (msn.com)

During the past month, the total value locked (TVL) in the Bancor Protocol has more than doubled, surpassing the $1.6 billion mark. Bancor, which serves as a liquidity protocol that enables automated, decentralized exchange, reveals that it managed to break into the top 10 projects in terms of TVL and now generates “the fifth highest revenue” of any protocol on Ethereum (as of March 13, 2021). decentralized finance – Bing News

To add more value to the network’s end-users and keep FinNexus at the industry’s cutting edge, its team has been working extremely hard to introduce new features. FinNexus has been developing its ecosystem on all fronts, expanding an established partnership with ChainLink, striving to add a new decentralized product, and introducing an algorithmic stablecoin-based liquidity pool to its platform.  FinNexus developments take its decentralized options platform to the next level | KnowTechie

The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, fell 10.5 basis points to 2.14 percent Tuesday.China’s overnight Shibor interbank rate falls Tuesday – Xinhua | English.news.cn (xinhuanet.com)

Cryptocurrency exchange rates as of 8:35 am EST …

BTC/USD=57,494.80 ETH/USD=1,792.44

BTC/EUR=48,177.40 ETH/EUR=1,501.96

BTC/GBP=41,325.00 ETH/GBP=1,288.34

BTC/AUD=74,221.30 ETH/AUD=2,313.90

BTC/CAD=71,715.70 ETH/CAD=2,235.79

BTC/CHF=53,398.50 ETH/CHF=1,664.74

BTC/JPY=6,274,470.00 ETH/JPY=195,611.00

BTC/CNY=373,759.00 ETH/CNY=11,652.20

Source: OANDA

Interbank market news scan: Cryptocurrency exchange rates. India moves closer to banning crypto…

Crypto-foreign exchange rates …

BTC/USD=57,204.20 ETH/USD=1,771.42

BTC/EUR=47,844.90 ETH/EUR=1,481.59

BTC/GBP=41,071.20 ETH/GPB=1,271.84

BTC/AUD=73,643.60 ETH/AUD=2,280.49

BTC/CAD=71,357.70 ETH/CAD=2,209.70

BTC/CHF=53,141.60 ETH/CHF=1,645.61

BTC/JPY=6,236,150.00 ETH/JPY=193,112.00

BTC/CNY= 372,220.00 ETH/CNY=11,526.40

Source: OANDA

What are we following? Follow the links….

India will propose a law banning cryptocurrencies, fining anyone trading in the country or even holding such digital assets, a senior government official told Reuters in a potential blow to millions of investors piling into the red-hot asset class. India to Propose Cryptocurrency Ban, Penalising Miners, Traders (fxempire.com)

With the introduction of the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, India has pivoted towards a complete ban on cryptocurrencies other than sovereign cryptocurrencies; a stark departure from the traditional laissez-faire stand towards regulating cryptocurrencies. Skipping Regulation & Banning Cryptocurrency: A Lackadaisical Legislation Without Legitimate Aim? (entrepreneur.com)

Interbank market scan: Ether makes headway ahead of Bitcoin …

Follow the links …

Ethereum blockchain developers approved one of the biggest changes to the network since its inception in 2015, a shift that could spur even bigger gains in the price of its native cryptocurrency Ether. Crypto Coin Outperforming Bitcoin Is About to See Supply Reduced – Bloomberg

With expectations for inflation and growth taking flight, traders are signaling that they anticipate the Fed may have to respond more quickly than it’s indicated. Eurodollar futures now reflect a quarter-point hike in the first quarter of 2023, but they’re starting to suggest that it could come in late 2022. Fed officials have projected they’d keep rates near zero until at least the end of 2023. Bond Traders Go All-In on U.S. Treasury Market’s Big Short Bet – Bloomberg

Central banks helped save the world economy from depression as the pandemic struck. Now they are dealing with the hard part: managing the recovery amid a difference of opinion with investors. Central Banks Face Jumpy Bond Market With 10 Days of Decisions (yahoo.com)

Earlier, there was an impression that it was due to pent-up and festival demand. But now, it is genuine demand that is visible. The vaccination drive is giving greater confidence to consumers, so the demand is expected to sustain. The only downside risk is the recent spike in the number of Covid cases in certain parts of the country. Central banks in no rush to raise rates, will back growth: Shaktikanta Das (msn.com)

But I think we have to scratch a little bit below the surface, and what you will find is that despite the good news, which is predominantly in the US and in China, this is still a very incomplete recovery globally. What you see is yes, the US and China will have complete recoveries, but the global economy despite this improved outlook is still going to be about 4 percentage points below the pre-pandemic path, which is great. Now that fiscal policy has come to forefront, central banks need to step back a little: Sajjid Z Chinoy (msn.com)

What is the DYX Index? What Is The DXY Index? (yahoo.com)

7 March 2021

A problem for the US government is that in twenty years time, the dollar may be a reserve currency for the unwashed…

The current crypto play …

Bitcoin and Ethereum continued their gains this week. The BTC/USD pair has climbed 10.4% to 50,415.50 USD from its value on 1 March 2021, while the ETH/USD pair has climbed 9.6% to 1,565.26 USD over the same period. The BTC/EUR and ETH/EUR pairs also climbed 10.4% and 9.6%, respectively between 1 March and 4 March 2021. The BTC/GBP and ETH/GBP pairs have followed suit with increases of 10.2% and 9.4%, respectively.

Source: OANDA

Another example of more practical crypto use: NFTs

Rock group Kings of Leon recently announced that they are dropping a new album in the form of a non-fungible token, A non-fungible token is a type of cryptocurrency that holds assets like art, tickets, or music and operates on blockchain technology. According to an article in The Rolling Stone, music groups are exploring NFTs as a way to offset two decades of losses due in great part to streaming where consumers are gaining access to an artist’s product at next to nothing costs.

While some may view this type of cryptocurrency as nothing by coupons on steroids, I believe the ability of individuals, groups, and institutions to turn their brands into micro-economies creates a long term problem for governments. For example, as a Kings of Leon NFT comprised of intricate digital art work grows in popularity over the years, it becomes a tradeable asset with increasing gains. Not only will it be tradeable for dollars, but it will be traded for other NFTs or other digital assets issued by your “utility” platforms. Kroger, Southern Company, and Delta may accept from a resident of Atlanta a NFT in exchange for a certain amount of groceries, energy, or airline tickets.

In the future, for consumers who are denied access to private platforms where they can trade for NFTs or other digital assets, they may be stuck with the dollar as their only currency. The future problem for the US government could be that a reduced network effect resulting from a fall off in use of its payment system may find government forced to shift more of the cost burden onto poorer citizens with no access to private platforms. Will government have to redesign its purpose in order to meet a potential shift in the use of its payment systems? And if so, how should that shift look?

4 March 2021, 1:22 pm EST

Individual brands becoming their own “crypto-banks” not a far off possibility …

Data from OANDA, a brokerage, sees the dollar, euro, and pound values of Bitcoin continued their climb this week. The BTC/USD pair increased by 6.4% from 45,657.60 USD on 1 March 2021 (10:30 am EST) to today’s 48,609.70 USD. The BTC/GBP pair jumped 6.6% over the same period, from 32,761.20 GBP to 34,919.20 GBP. The BTC/EUR pair was not to be outdone with a 6.7% increase from 37,809.80 EUR to 40,353.90 EUR.

The Ethereum trade saw higher increases percentage wise. The ETH/USD came in today at 1,532.36 USD, up 7.3% from 1 March. The ETH/GBP and ETH/EUR were up 7.4% and 7.6%, respectively, over the same period.

Volatility will remain an issue for some time as the business media reports cryptocurrency as prominently a speculative play even as mainstream investment bank willingness to facilitate trade in cryptocurrency increases. What will quiet volatile moves in cryptocurrency prices is if more consumers see crypto as part of the mainstream payment system.

A recent article in Vogue sheds some light on that possibility. The article addresses up front the taint that crypto has to shake; that it is a medium for money laundering, drug trafficking, and tax evasion. But the article also points out that activity such as online gaming and the issuance of nonfungible tokens (NFT) are driving Bitcoin resurgence.

A NFT is published on an Ethereum blockchain ledger, is certifiably singular, and prevents replication by others.

The article points out that fashion is making inroads into the metaverse, the virtual world where participants interact via avatars, and following the trend where physical assets e.g., collectibles, are represented in digital form.

The takeaway that got me excited was the finding among individuals interviewed in the article that platforms and individuals are moving toward issuing their own currencies. “Cryptocurrencies are like air miles in that they can only be used within the infrastructure of specific companies, ” notes the author, Kati Chitrakorn. Firms are taking the opportunity to launch their own currencies where their inventory is limited and they provide their fans with short windows on certain purchases.

“Imagine only being able to purchase a must-have product via the brand’s coin or getting access only if you hold a certain amount of these coins”, says Mahesh Vellanki of Rally, a blockchain platform. “Brands and creators might prefer to use their own tokens to build their own economies and interact with fans on their terms.”

Another takeaway from the article is a third way for the consumer to obtain Bitcoin or other cryptocurrencies. We are familiar with the mining aspect, where as part of validating a transaction a mathematical problem is solved by a “miner” who receives Bitcoin as compensation. We are seeing a lot of buying as the second option. The third option often overlooked in mainstream media is obtaining a loyalty token on certain platforms.

In the short term I see where operating within the current jurisdictional environment places a severe limit on these platforms to grow and their currencies maximized. Large platforms such as Amazon and Facebook already start with a huge advantage as non nation-state platforms were goods and services are exchanged. For the individual sovereign, their wealth generated by their ability to leverage their brand to issue currency is limited by the taxing authority they reside under.

Question is, can the individual, as a physical asset, digitize into an alternative space and create their own jurisdiction?

The problem with regulating cryptocurrency. Like any currency, it is speech. Why regulate its movement?

Currency is more than just paper authorized by the government to be put in circulation around a country. Currency says something about the value of the issuer. A currency tells its holder that the issuer brings to the market a level of economic value. That value is captured in the goods the issuer produces. The value is reflected in the laws that protect the markets within which the products are bought and sold. Currency communicates a message as to how well its underlying economy is doing and the prices paid for currency reflect how well these messages are received by other countries and potential holders.

Currency is speech …

The United States, by law, puts restraints on its government by a constitutional requirement that its Congress make no law “abridging the freedom of speech.” Article 19 of the United Nation’s Universal Declaration of Human Rights provides that:

“Everyone has the right to freedom of opinion and expression; this right includes freedom to hold opinions without interference and to seek, receive and impart information and ideas through any media and regardless of frontiers.”

And I would argue that currency is such a medium for conveying information and ideas. As discussed prior, it conveys information, thoughts, ideas about its underlying economy. Its use tells us that someone has decided to use it as a store of wealth, as a unit of account, and is willing to use it as a medium of exchange for the aforementioned reasons.

Cryptocurrency does the same thing that the paper currency we are used to does. Rather than an analog-based paper currency, crypto is digital created and transmitted or exchanged digitally. The information it conveys is written in encrypted code. Unlike paper currency, cryptocurrency is not yet accepted as ready for prime time even though recent moves by individuals e.g., Elon Musk tweeting support for bitcoin and Dogecoin; corporations e.g., Subway accepting bitcoin as payment for sandwiches; and investment banks, e.g., Goldman Sachs starting a bitcoin trading desk, indicate investors are warming to the idea of cryptocurrency as a store of value or even a medium of account.

It is taking a little longer for the public to see bitcoin as a medium of exchange. The general public has to get its head around the idea that a sandwich can be bought with bitcoin or services rendered can be compensated with Ethereum. When it comes to mainstream use as a medium of exchange, the speech we are hearing is more like the babbling of an 18-month old, but we are reminded that the leap from toddler chat to adult yak and the move from cowry shells to paper currency was eventually made.

In the meantime, I believe that proponents should head off increased regulation of cryptocurrency by making the argument to regulators such as the Commodity Futures Trading Commission, the Securities and Exchange Commission, and the U.S. Treasury with the speech argument for starters. Individuals should be able to convey how they value their wealth by being able to finance and trade cryptocurrency. Currency is merely a medium and just like the American broadcast and communications systems have abandoned analog and have embraced digital for its flexibility and data capacity, so too should the American public by embracing crypto as a way to express wealth, value, and economy.

Interbank market news scan: Central banks can step-up their data analytics game …

Follow the links …

Keeping up with data collection, capture, normalization and storage is an enormous task. In the best-case scenario, central banks systematically collect structured data electronically through reporting systems and directly from banks, brokers and market data feeds. However, in many instances, data collection is ad hoc, poorly structured, or in a non-electronic form. Leveraging Technology for Central Bank Surveillance | Nasdaq

Central bank digital currencies (CBDCs) may signal the end of physical cash and thus propel interest in cryptocurrency from the darker side of society, according to Mike Dolan, editor-at-large for finance and markets at Reuters.

Namibia’s central bank held its benchmark interest rate at a record low in its first meeting of the year, striking a balance between supporting the economy and protecting its currency’s peg to the South African rand. Namibia Holds Interest Rate at 3.75% for Third Straight Meeting – Bloomberg

The National Bank of Hungary is likely to leave interest rates unchanged next Tuesday after a recent increase in closely watched inflation measures and continued volatility in prices and financial markets. Hungarian central bank to leave rates steady as inflation creeps higher | Reuters

Currency pairsExchange Rate as of 4:15 pm 16 February 2021(1) As of 11:35 am EST Exchange Rate as of 17 February 2021(2)(3)
AUD/USD0.7762 0.7729
USD/CAD1.2694 1.2724
USD/CNY6.4567 6.4542
EUR/USD1.2126 1.2032
USD/INR72.6000 72.8130
GBP/USD1.3855 1.3843
USD/JPY104.9400 106.0900
USD/MXN19.9300 20.2760
USD/DKK6.1325 6.1762
USD/NOK8.4558 8.5090
BTC/USD  46,403.2000
ETH/USD  1,686.7300