The African Diaspora Interbank Market News Scan as of 9:03 am EDT

Currency PairExchange Rate
GBP/USD1.2146
USD/XCD2.7000
GBP/XCD3.2794
USD/JMD149.4830
GBP/JMD181.5580
USD/DOP54.0028
CAD/XCD2.0941
CAD/JMD115.9390
USD/NGN414.6780
GBP/NGN503.6580
EUR/USD1.0450
USD/BTC0.0001
GBP/BTC0.0001
EUR/BTC0.0001
CAD/BTC0.0000

Source: OANDA

The African Diaspora Interbank Market News Scan as of 9:24 am EDT

Foreign Exchange, Africa, Caribbean, United States, Great Britain

I haven’t done an interbank market news scan in some time.  I have decided to focus the scan on the African Diaspora looking at the US dollar in terms of certain African and Caribbean nations.  I expect this scan to expand in the future.

Currency PairExchange Rate
GBP/USD1.2274
USD/XCD2.7000
GBP/XCD3.3140
USD/JMD149.6490
GBP/JMD183.6780
USD/DOP54.1987
CAD/XCD2.0940
CAD/JMD116.0620
USD/NGN414.4900
GBP/NGN508.7400
EUR/USD1.0555

 Source: OANDA

27 June 2022

Interbank Market News Scan: Biden releases budget; inflation may not be that high next year; Nigeria’s central bank injects liquidity

Interbank, Pakistan, rupee. “The rupee reached a new record low on Monday, selling at 182.19 against the dollar in the interbank market, as political uncertainty triggered by a no-confidence move against Prime Minister Imran Khan weighed on sentiment, dealers said.” See article here. Source: The International News.

Interbank, Nigeria, naira, Access Bank. Similarly, (Access Bank) states that operating expenses at bank-level was up marginally by 2% year on year, showcasing the effectiveness of cost-cutting measures whilst also noting that FX rates on the Interbank market continued upward trend by 6% year on year to stand at N424 per dollar mainly driven by rate adjustments and lean supply. See article here. Source: Nairametrics.

Interbank, Pakistan, rupee. “The buying rate of 1 SAR to PKR was Rs 48.050 and the selling rate of 1 SAR to PKR was Rs 48.850 in the interbank market on Mar 28, 2022.” See article here. Source: BOL News.

Interbank, LIBOR, SOFR. “With a war waging in Central Europe, inflation at 50-year highs and the U.S. central bank looking to raise interest rates multiple times this year, you’d think that the average mortgage banker already has a pretty full plate. But add to the list of woes the Fed’s abortive transition from Libor to the Secured Overnight Financing Rate or SOFR and you have a recipe for disaster later this year.” — Christopher Whalen. See article here. Source: National Mortgage News.

Interbank, Nigeria, open market operations, naira. “In pursuant of its pro economic growth monetary policy the Central Bank of Nigeria, CBN, increased its net liquidity injection into the interbank money market by 110 per cent  to N770 billion in the first quarter of the year, Q1’22, from N367 billion in the fourth quarter of last year, Q4’21.” See article here. Source: Vanguard Nigeria.

Interbank, U.S., inflation, dollar. “Neuberger Berman expects extreme bond market volatility to stabilise and is counting on opportunities scooping up cheap high-yield and investment grade bonds in the telecom and energy sectors.” See article here. Source: Financial Review.

Interbank, U.S., budget, taxes. “Today, President Joe Biden released the FY2023 Budget to propose critical investments that will prioritize security at home and abroad, bolster the economy, promote health, tackle climate change, and further opportunity for all.” See article here. Source: U.S. Department of the Treasury.

Foreign exchange rates and dollar index as of 29 March 2022, 3:20 am GMT

Currency Pair28 March 202229 March 202230 March 202231 March 20221 April 2022
EUR/USD1.098341.09717   
GBP/USD1.317661.31204   
USD/CNY6.365266.37031   
USD/CHF0.930150.93439   
USD/NGN415.25415.181   
USD/ZAR14.527214.6255   
USD/AOA449.768448.000   
USD/INR76.01178.9895   
USD/JPY122.07123.527   
USD/SAR3.745243.74524   
Dollar Index99.0099.04   
Sources: OANDA, MarketWatch

Foreign exchange rates as of 12:13 am AST. United States, Great Britain, Canada, China, Angola, Nigeria, Japan

Currency Pair21 March 202222 March 202223 March 202224 March 202225 March 2022
EUR/USD1.104981.103681.100931.100881.09905
GBP/USD1.317481.316321.320521.323061.31868
USD/CNY6.359056.355546.362586.368546.36767
USD/CHF0.931750.93220.934120.933030.93138
USD/NGN415.42415.043415.732415.115414.015
USD/ZAR14.940114.938814.874714.779514.6555
USD/AOA449.794449.794449.438448.867449.194
USD/INR75.66375.968575.975976.123876.1478
USD/JPY119.145119.274120.537121.022121.77
USD/SAR3.745243.745243.745243.745243.74524
Dollar Index98.4998.4698.7898.8498.52
Sources: OANDA, MarketWatch

Africa: Foreign exchange rates of interest as of 10:13 am AST

Currency Pair7 March 20228 March 20229 March 202210 March 202211 March 2022
USD/NGN415.769414.987414.987  
USD/GHS7.05397.038567.03856  
USD/ZAR15.353415.307415.3074  
USD/GMD52.965453.058253.0582  
USD/AOA470.136470.436470.436  
USD/UGX3,582.843,586.453,586.45  
USD/RWF1,017.671,012.151,012.15  
USD/KES113.073113.103113.103  
Dollar Index98.7398.9498.45  
Sources: OANDA, MarketWatch

Interbank Market News Scan: Foreign exchange rates of interest to Atlanta’s immigrant community as of 7:50 am EDT…

Business News

EUR/USD=1.13649

GBP/USD=1.36048

USD/CAD=1.27003

USD/INR=74.9424

USD/NGN=415.459

USD/GHS=6.44983

USD/DOP=56.2751

USD/JMD=155.493

USD/GYD=200.426

USD/TTD=6.65983

USD/XCD=2.70

USD/BTC=0.00002

USD/ETH=0.00033

Source: OANDA

Dollar Index=95.81

Source: MarketWatch

Interbank Market News Scan: Foreign exchange and crypto rates of interest as 9:51 am EDT

EUR/USD=1.1294

GBP/USD=1.3550

USD/MXN=20.5450

USD/GTQ=7.5086

USD/NGN=415.203

USD/GHS=6.2762

USD/VND=22,646.7

USD/JPY=114.49

USD/INR=74.7325

USD/BTC=0.00003

USD/ETH=0.00036

Source: OANDA

MarketWatch Dollar Index: 95.53

Interbank Market News Scan: Rupee jumps against the U.S. dollar; bridging the global trade financing gap with Commercial Data Interchange

Interbank, India, rupee. The rupee surged 45 paise to close at 74.62 (provisional) against the U.S. dollar on January 31 supported by positive domestic equities and improved risk appetite. Source: The Hindu. https://www.thehindu.com/business/markets/rupee-jumps-45-paise-to-close-at-7462-against-us-dollar/article38353579.ece

Interbank, Ukraine. The National Bank of Ukraine (NBU) has recorded a decline in currency demand on the interbank foreign exchange market last Friday, according to a press release issued by the central bank, Ukrinform reports. Source: Ukrinform. https://www.ukrinform.net/rubric-economy/3394687-nbu-records-decrease-in-currency-demand-on-interbank-market.html

Interbank, Bank for International Settlements. Eddie Yue makes argument for closing the trade finance gap with better connectivity between digital finance platforms. Source: Bank for International Settlements. https://www.bis.org/review/r220126a.htm

Foreign exchange rates of interest to Atlanta

EUR/USD=1.1148

GBP/USD=1.3398

USD/MXN=20.7989

USD/GTQ=7.5066

USD/NGN=415.160

USD/GHS=6.2239

USD/VND=22,645.0

USD/JPY=115.23

USD/INR=74.9150

USD/BTC=0.00003

USD/ETH=0.00039

Source: OANDA

MarketWatch Dollar Index=96.92