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Currency swaps – The beginning of a ’solution’?

Posted on 06 December 2011

By far the most important event of the past week was the joint announcement by the world’s leading central banks that they were extending existing US dollar swap agreements and lowering the swap rate. Furthermore, these dollar swaps will be extended to secondary swaps between individual central banks in non-dollar currencies as required.
The stated purpose of this action, according to the Bank of England, is to ease strains in financial markets to ensure credit continues to be available to households and businesses, and so foster economic activity………………………………………..Full Article: Source


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VRS - who has written 34624 posts on Opalesque Commodities Briefing.


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