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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
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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 the worst-performing currencies in the world this year but rallied more than 2% on Wednesday, its b...
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 Nguyen in Hanoi. Writing by Tom Westbrook in Singapore. Editing by Vidya Ranganathan)