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 →

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