Follow the links …
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 pairs Exchange 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/USD 0.7656 0.7768 USD/CAD 1.2781 1.2678 USD/CNY 6.4664 6.4542 EUR/USD 1.2035 1.2128 USD/INR 72.8500 72.5700 GBP/USD 1.3714 1.3868 USD/JPY 105.4400 105.0400 USD/MXN 20.1300 19.9154 USD/DKK 6.1785 6.1338 USD/NOK 8.5428 8.4263 Sources: Federal Reserve (1) ; Reuters (2)
Beijing is keen to end the dollar hegemony that affords Washington vast power and ultra-low borrowing costs. It also wants to pull in more foreign capital to accelerate its economic development.
Opinion | How Trump made China’s currency great again – The Washington Post
The USD/JPY bottoms are close at 102.00’s and nearly 200 pips.
USD/CAD 200 pip bottoms at 1.2500’s. USD 200 pip bottoms means all currencies listed as USD/Other pair are all close to major bottoms at 200 ish pips. Currency market: USD/PLN and USD/BRL (fxstreet.com)
Brussels faces a steep climb in its effort to boost the international role of the euro as part of its quest to strengthen the EU’s self-reliance, investors and analysts said after the bloc set out new ambitions for the single currency.
EU faces barriers to boosting single currency’s global status | Financial Times (ft.com)
European multinational corporations suffered the brunt of the $9.82 billion reported lost due to currency volatility in the third quarter of 2020.
Kyriba’s Currency Impact Report Reveals $9.82 Billion in Total Quarterly FX Losses for European and North American Multinational Corporations (apnews.com)
The negative impact of currency fluctuations on North American company results fell sharply in 2020’s third quarter, reversing an upward trend, according to data from treasury and financial management firm Kyriba released on Tuesday.
Currency Hit to North American Companies Dropped in Third Quarter: Kyriba | Investing News | US News
Banque de France has successfully conducted a central bank digital currency (CBDC) experiment using a blockchain platform for interbank settlement.
French Central Bank Trials Digital Currency for Interbank Settlement | Nasdaq