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 →
The strength of the US currency has amplified already existing headwinds for the world economy. But while central banks have kept up the fight to protect their currencies from depreciation, a USD reversal is something only the Fed will be able to engineer.
The notoriously volatile cryptocurrency market suffered another serious blow earlier this month as FTX, once one of the largest cryptocurrency exchanges in the world, met its rapid end.
On November 15 a group of major banks including Citigroup, HSBC, BNY Mellon, Wells Fargo and the Federal Reserve Bank of New York initiated a 12-week digital dollar pilot. The… read more →
Your Monday coffee briefing from TFG – Trade digitisation: the legal framework that will facilitate efficient trade
In late September the pound fell spectacularly from above $1.12 to a new record low of $1.035 versus the US dollar.
It’s true that the dollar had been appreciating for many months, and the pound was one of the most undervalued currencies of the year, but this was news making headlines and front pages around the world, and it was exclusively a domestic problem.
To learn more about the treasury landscape Trade Finance Global’s (TFG) Annie Kovacevic sat down with Colleen Ostrowski (CO) at Sibos, Amsterdam 2022.
Bank of America today announced the launch of an expanded CashPro Payment API through which clients can access more than 350 payment types and bundle payments. The development comes as… read more →
At what point can a business acknowledge foreign exchange (FX) in their procure to pay (P2P) process, and at what cost?
