Talk of a joint BRICS currency feeds into ‘decline of the dollar’ rhetoric. But it is the economic bloc’s focus on innovation that will reshape the international system.
Most countries manipulate their currencies – at least a little – but at the moment that’s not the real reason they are undervalued relative to the dollar.
The London Interbank Offered Rates is one of the world’s key financial tools, but the 2008 rigging scandal has led to calls for its being phased out. Can we find better ways of building the LIBOR rate?
Global travelers are being increasingly asked if they want to pay for local purchases in terms of their home country currency. Here’s why you should resist the strong temptation to do so.
Currency wars have been predicted for years. Outright monetary battles were last seen during the Great Depression of the 1930s, when governments competed to devalue their currencies to gain market advantage…
Suppose you’re in the supermarket shopping for groceries. While you’re strolling the aisle with your cart, a shadowy figure looms over your shoulder and changes the prices on the items you want to buy…
In imploring the world to be less dependent on the US dollar for international transactions, French finance minister Michel Sapin is expressing a wish that many of the euro’s creators hoped would already…
Politicians and regulators in charge of our foreign currency markets can’t see the wood for the trees. Even the banks themselves recognise allegations the world’s largest financial market has been rigged…
Authorities in New York have announced they are launching an investigation into the manipulation of the world’s biggest financial market – the US$5.3 trillion a day traded in currencies. New York regulators…
Mark Taylor, Warwick Business School, University of Warwick
In the latest big scandal to hit the banking sector, regulators around the world are investigating whether foreign exchange markets have been rigged. At least seven major banks have been caught up in the…