According to Ravi Menon, the Monetary Authority of Singapore’s (MAS) managing director, Singapore is set to trial the live issue and utilisation of wholesale central bank digital currencies (CBDCs) in… read more →
The UK’s inflation rate remained at 6.7% in September, defying earlier predictions of a slight decrease. This rate is the highest among major advanced economies and sustains the possibility of… read more →
In an era defined by lightning-fast technological advancements and an increasingly interconnected global economy, the cross-border payments market is undergoing a radical overhaul.
South Korea is set to permit offshore companies to apply for trading rights in its local currency market starting next month. This move is part of the country’s ongoing efforts… read more →
India has permitted banks in 22 partner nations, including Russia and the UK, to establish “vostro” accounts within its borders, the government informed the parliament on Tuesday, aiming to bolster… read more →
The Indian rupee depreciated on Monday and appeared set to register a monthly decline due to a central bank that seems reluctant to allow the currency to strengthen significantly. As… read more →
In a bid to bolster the global presence of the Indian rupee, India and the United Arab Emirates have reached an agreement to utilise their respective local currencies for cross-border… read more →
According to a study released on Wednesday by the US-based Atlantic Council think tank, 130 nations, representing 98% of the global economy, are currently exploring digital variants of their currencies.… read more →
In the midst of a significant dollar surge, as interest rate differentials continue to favor the American currency, the Japanese yen has fallen to its lowest levels since November 2022.… read more →
This article focuses on correspondent banking, its role in international trade, and shortfalls of the traditional model that adversely affect lower-income countries, impeding economic development and the advancement of financial inclusion.
The COVID-19 pandemic caused global central banks to take emergency action to support the world’s economies; one such measure was the rapid cut in interest rates to record lows.
The United States Dollar has been the de facto global currency for the better part of the past century. While rhetoric questioning its longevity in this role has been around for decades, the past year has seen more leaders of rapidly emerging economies beginning to question why it still needs to be this way.
The Court of Appeal in England has decided in MUR Shipping BV v. RTI Ltd [2022] EWCA Civ 1406 (27 October 2022) that sometimes a party must accept payment in Euros, even though the contract expressly stipulated payment to be made in US Dollars. Although the case is not about independent undertakings, DCW readers might ask if the decision could have implications for letters of credit and demand guarantees.
BAFT, the leading global financial services association for international transaction banking, today announced the launch of its new Certificate in Foreign Exchange (CFX), which includes a series of eight courses… read more →