Interbank Market News Scan: Eastern Caribbean, foreign exchange …

2 July 2021

Foreign exchange rates of interest

Where base currency is XCDRates as of 9:30 am AST 2 July 2021Where term currency is XCDRates as of 9:30 am AST 2 July 2021
XCD/EUR0.3125EUR/XCD3.2000
XCD/GBP0.2686GBP/XCD3.7231
XCD/USD0.3704USD/XCD2.7000
XCD/CAD0.4596CAD/XCD2.1754
XCD/NGN152.1010NGN/XCD0.0066
XCD/CNY2.3938CNY/XCD0.4174
XCD/PLN1.4111PLN/XCD0.7081
XCD/PEN1.4229PEN/XCD0.6963
Source: OANDA

Eastern Caribbean Central Bank-interest rates

ECCB Fixed Deposit Rate-1 month0%
ECCB Fixed Deposit Rate-2 months0%
ECCB Fixed Deposit Rate-3 months0%
*ECCU Minimum Savings Deposit Rate2%
ECCB Discount Rate2%
Source: Eastern Caribbean Central Bank

Links to follow …

Eastern Caribbean Central Bank. The Eastern Caribbean Central Bank (ECCB) recorded a net profit of $25.2 million for the year ended 31 March 2021, a 60.1 per cent decrease from the profit reported in the prior year. https://www.eccb-centralbank.org/news/view/eccb-records-profit-for-financial-year-2020-2021

European Central Bank. The European Central Bank (ECB) and the European Systemic Risk Board (ESRB) today published a joint report that takes a closer look at how a broadened set of climate change drivers affects millions of global firms and thousands of financial firms in the European Union (EU). https://www.ecb.europa.eu/press/pr/date/2021/html/ecb.pr210701~8fe34bbe8e.en.html

Interbank. The yuan’s share of the world’s central banks’ reserves is at 2.45%. https://illinoisnewstoday.com/chinese-yuan-share-of-world-foreign-exchange-reserves-hits-new-highs/279603/

Interbank. The Central Bank of The Bahamas says the restrictions placed on foreign exchange outflows at the onset of the economic crisis caused by the COVID-19 pandemic will end this week. https://www.nycaribnews.com/articles/foreign-exchange-restrictions-eased-in-bahamas/

Interbank Market News Scan: The Caribbean, foreign exchange …

25 June 2021

Eastern Caribbean Central Bank-interest rates

ECCB Fixed Deposit Rate-1 month0%
ECCB Fixed Deposit Rate-2 months0%
ECCB Fixed Deposit Rate-3 months0%
*ECCU Minimum Savings Deposit Rate2%
ECCB Discount Rate2%
Source: Eastern Caribbean Central Bank

*Eastern Caribbean Currency Union

Foreign exchange rates of interest

Where base currency is XCDRates as of 1:03 am AST 25 June 2021Where term currency is XCDRates as of 1:03 am AST 25 June 2021
XCD/EUR0.3104EUR/XCD3.2216
XCD/GBP0.2657GBP/XCD3.7634
XCD/USD0.3704USD/XCD2.7000
XCD/CAD0.4559CAD/XCD2.1932
XCD/NGN152.1620NGN/XCD0.0066
XCD/CNY2.3963CNY/XCD0.4169
XCD/PLN1.4038PLN/XCD0.7118
XCD/PEN1.4613PEN/XCD0.6723
Source: OANDA

Eastern Caribbean Central Bank.  The Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC) announces two new products aimed at helping regional Micro, Small and Medium Enterprises (MSMEs) rebound and grow their businesses. https://www.eccb-centralbank.org/news/view/ecpcgc-offers-additional-products-to-help-small-businesses

Federal Reserve. The Federal Reserve Board on Thursday released the results of its annual bank stress tests, which showed that large banks continue to have strong capital levels and could continue lending to households and businesses during a severe recession. https://www.federalreserve.gov/newsevents/pressreleases/bcreg20210624a.htm

Foreign exchange. Chinese banks’ stockpile of foreign-currency deposits has surpassed $1 trillion for the first time, creating an opportunity for Beijing to allow greater freedom for capital to flow out of the country. https://www.bloomberg.com/news/articles/2021-06-24/chinese-banks-stockpile-record-1-trillion-of-foreign-currencies?sref=oriheOus

Foreign exchange. The EU is unlikely to grant U.K.-based financial firms automatic market access in all areas post-Brexit, according to a top British minister. https://www.bloomberg.com/news/articles/2021-06-24/u-k-says-equivalence-with-eu-unlikely-in-all-areas-of-finance?sref=oriheOus

Interbank. China’s interbank treasury bond index in net price opened at 985.08 points Friday, higher than the previous close of 984.84 points, according to the China Foreign Exchange Trade System. http://www.china.org.cn/china/Off_the_Wire/2021-06/25/content_77586945.htm

Interbank Market News Scan: Eastern Caribbean, foreign exchange …

24 June 2021

Eastern Caribbean Central Bank-interest rates

ECCB Fixed Deposit Rate-1 month0%
ECCB Fixed Deposit Rate-2 months0%
ECCB Fixed Deposit Rate-3 months0%
ECCU (1) Minimum Savings Deposit Rate2%
ECCB Discount Rate2%
Source: Eastern Caribbean Central Bank
  • (1) Eastern Caribbean Currency Union

Foreign exchange rates of interest

Where base currency is XCDRates as of 1:15 am AST 24 June 2021Where term currency is XCDRates as of 1:30 am AST 24 June 2021
XCD/EUR0.3103EUR/XCD3.2222
XCD/GBP0.2653GBP/XCD3.7689
XCD/USD0.3704USD/XCD2.7000
XCD/CAD0.4556CAD/XCD2.1946
XCD/NGN151.8860NGN/XCD0.0066
XCD/CNY2.3986CNY/XCD0.4168
XCD/PLN1.4026PLN/XCD0.7122
XCD/PEN1.4509PEN/XCD0.6771
Source: OANDA

Foreign exchange. On 26 May 2021, the Cabinet of Ministers of Ukraine adopted the Resolution adopted a Resolution setting out the procedure the tax authority should use to fine legal entities for violating currency legislation. https://www.lexology.com/library/detail.aspx?g=b6a6e9df-ddaa-49c7-821a-355d5b0cf097

Foreign exchange. The U.S. dollar vacillated below an 11-week high versus major peers on Thursday as traders attempted to navigate conflicting signals from Federal Reserve officials on the timing of a withdrawal of monetary stimulus. https://www.cnbc.com/2021/06/24/forex-markets-dollar-us-federal-reserve.html

Interbank. Flour millers in Nigeria are turning to the street market for dollars to buy wheat after the central bank restricted the use of the U.S. currency to buy grain imports, according to the country’s third-largest operator. https://www.bloomberg.com/news/articles/2021-06-23/nigeria-flour-millers-squeezed-by-central-bank-ban-on-imports?sref=oriheOus

Interbank. The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China‘s interbank market, decreased 9.3 basis points to 2.208 percent Wednesday. http://www.china.org.cn/china/Off_the_Wire/2021-06/23/content_77581796.htm Interbank. China’s central bank boosted its short-term cash injection for the first time since March as it sought to cater to a growing demand for liquidity while keeping leverage in check. https://www.bloomberg.com/news/articles/2021-06-24/china-lifts-short-term-cash-injection-for-first-time-since-march?sref=oriheOus

Interbank Market News Scan: Eastern Caribbean, foreign exchange, banks …

Links to follow …

Banks. The stock market has been volatile, but it’s been a very solid year on -— and for — Wall Street. https://www.cnn.com/2021/06/21/investing/bank-stocks-economy/index.html

Banks.  Bitcoin has fallen below $30,000 for the first time in more than five months, hit by China’s crackdown on the world’s most popular cryptocurrency. https://news.yahoo.com/china-tells-banks-stop-supporting-044021987.html

Eastern Caribbean Central Bank-interest rates

ECCB Fixed Deposit Rate-1 month0%
ECCB Fixed Deposit Rate-2 months0%
ECCB Fixed Deposit Rate-3 months0%
ECCU (1) Minimum Savings Deposit Rate2%
ECCB Discount Rate2%
Source: Eastern Caribbean Central Bank
  • (1) Eastern Caribbean Currency Union

Eastern Caribbean Securities Exchange

Bank share prices as of 22 June 2021

The Bank of Nevis Ltd.$3.75
Bank of St. Vincent and the Grenadines$6.70
East Caribbean Financial Holding Company Ltd$4.00
Grenada Co-operative Bank Ltd.$8.88
Republic Bank (Grenada) Ltd.$45.00
St. Kitts Nevis Anguilla National Bank Ltd.$2.80
Source: Eastern Caribbean Securities Exchange

Foreign exchange rates of interest

Currency PairsRates as of 1:15 am AST 23 June 2021
XCD/EUR0.3109
XCD/GBP0.2662
XCD/USD0.3704
XCD/CAD0.4577
XCD/NGN152.0730
XCD/CNY2.3974
XCD/PLN1.4063
XCD/PEN1.4522
Source: OANDA

Interbank Market News Scan: Eastern Caribbean

Links to follow …

Banks. When the European Union launched the euro two decades ago, economists wondered if this novel currency might pull off a feat none other had managed in the post-war period: to challenge the mighty American dollar. https://www.economist.com/finance-and-economics/2021/06/21/the-international-role-of-the-euro

Banks.  Online-only assets like Bitcoin and Ethereum have become a lucrative opportunity for millions of savvy amateur investors, but now Russia’s central bank is warning people to steer clear of what could end up being a very risky buy. https://www.rt.com/russia/527147-crypto-central-bank-warning/

Banks. London Offered Interbank Rates (LIBOR). https://www.brecorder.com/news/40101846/libor-interbank-offered-rates

Banks. Wall Street regulators delivered a uniform message to President Joe Biden Monday: the huge capital buffers that banks built up over the pandemic are protecting the financial system from looming threats. https://www.bloomberg.com/news/articles/2021-06-21/banks-robust-capital-mitigates-risks-regulators-tell-biden?srnd=premium&sref=oriheOus

Banks. Banks looking to expand into the wild world of crypto are getting a pointed reminder from regulators of the risks involved. https://www.bloomberg.com/news/articles/2021-06-21/banks-chart-cautious-crypto-policy-with-regulators-taking-aim?sref=oriheOus

Eastern Caribbean Securities Exchange

Bank share prices as of 21 June 2021

The Bank of Nevis Ltd.$3.75
Bank of St. Vincent and the Grenadines$6.70
East Caribbean Financial Holding Company Ltd$4.00
Grenada Co-operative Bank Ltd.$8.88
Republic Bank (Grenada) Ltd.$45.00
St. Kitts Nevis Anguilla National Bank Ltd.$2.80
Source: Eastern Caribbean Securities Exchange

Eastern Caribbean Central Bank-interest rates

ECCB Fixed Deposit Rate-1 month0%
ECCB Fixed Deposit Rate-2 months0%
ECCB Fixed Deposit Rate-3 months0%
ECCU (1) Minimum Savings Deposit Rate2%
ECCB Discount Rate2%
Source: Eastern Caribbean Central Bank
  • (1) Eastern Caribbean Currency Union

Foreign exchange rates of interest

Currency PairsRates as of 1:15 am AST 22 June 2021
XCD/EUR0.3114
XCD/GBP0.2670
XCD/USD0.3704
XCD/CAD0.4597
XCD/NGN151.9260
XCD/CNY2.3940
XCD/PLN1.4125
XCD/PEN1.4578
Source: OANDA

22 June 2021