Forex Intervention News Today

"A few directors explicitly supported the authorities view that exchange rate stability reflects improvements in Indias external position and that foreign exchange interventions have been used to avoid excessive volatility not warranted by fundamentals," said the IMF report.

RBI officials, in their meetings with the IMF, said the forex market interventions were in line with the

The Human and Environmental Development Agenda (HEDA Resource Centre), a civil society organisation, has asked the Central Bank of Nigeria to comply with a recent court judgment in its favour. The judgment, relating to the case of "Incorporated Trustees of HEDA Resource Centre v. Governor, Central Bank of Nigeria; FHC/ABJ/CS/1622/2020," was issued on May 3, 2023, by Hon. Justice M.O. Olajuwon.

The RBIs forex market interventions have led to tidy side benefits

The Federal High Court in Abuja has ordered the Central Bank of Nigeria to release information concerning the volume of dollars given out at N305 as well as the sectors and schemes that had been benefiting from the N55 difference to Incorporated Trustees of HEDA Resource Center.   The court held that the failure of the apex bank to disclose the information on request by the Civic Media Lab and later by HEDA was unlawful, insisting that FOI Act was enacted to enthrone transparency and accountabi...

An RBI paper argues that India has kept up forex intervention with little loss of monetary sovereignty. RBI’s finely calibrated approach works but we must not lose sight of its limits

Selling of USD against HKD

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By Reuters Staff 2 Min Read BRASILIA, March 10 (Reuters) - Brazil’s central bank said on Wednesday it would sell up to $1 billion in currency swaps on Thursday, extending its recent intervention in the foreign exchange market with the real hovering near its all-time low against the U.S. dollar. The announcement follows two separate interventions by the central bank on Wednesday, one a $1 billion sale of currency swaps and the other a $405 million sale in the spot FX market. The real is one of...

By Reuters Staff 1 Min Read HANOI, Feb 22 (Reuters) - The State Bank of Vietnam (SBV) said it has cut the frequency of its foreign exchange interventions to allow the Vietnamese dong to move in accordance with the market. “From Feb. 17, 2021, the SBV reduced the frequency of buying intervention to once a week on every Wednesday, instead of daily,” the central bank said in an email to Reuters. “This move aims at letting the rate move in accordance with the market.” (Reporting by Phuong N...