{"id":549962,"date":"2022-10-09T04:08:14","date_gmt":"2022-10-09T04:08:14","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/09\/planet-finance-central-banks-are-stuffing-their-mattresses-with-usds\/"},"modified":"2022-10-09T04:08:14","modified_gmt":"2022-10-09T04:08:14","slug":"planet-finance-central-banks-are-stuffing-their-mattresses-with-usds","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/09\/planet-finance-central-banks-are-stuffing-their-mattresses-with-usds\/","title":{"rendered":"Planet Finance: Central banks are stuffing their mattresses with USDs"},"content":{"rendered":"

<\/a> Central banks everywhere are stocking up on USD as they prepare to prop up <\/strong>their currencies: <\/strong>Central banks are letting go of their US Treasuries in favor of cold hard cash that could be deployed to boost their local currencies if necessary, Bloomberg<\/a> reports. Central banks sold a combined USD 81 bn in Treasury securities over the past four weeks, in the most aggressive selloff since March 2020. At the same time, the Fed\u2019s foreign reserve repurchase agreement facility \u2014 which allows central banks to hold USDs \u2014 saw inflows of USD 61 bn. That suggests policymakers \u201cwant to build up their cash position potentially for the purpose of defending their currencies,\u201d one strategist said.<\/p>\n

Also worth knowing about this morning:<\/strong><\/p>\n