Articles
Why dollar debts in Mexico are paid at the FIX
The FIX: the peso-dollar rate Mexican law pays dollar debts at, how Banco de México sets it, what its history since 1954 shows, and how it compares with the Fed's and the ECB's rates.
How the dollar's official rate in Frankfurt passed from the Deutsche Mark to the euro
The dollar's official rate in Frankfurt since 1949: the Deutsche Mark's parities of 4.20, 4 and 3.66 marks, the days the exchange closed, the float from 1973, the changeover to the euro at 1.95583 marks, and how the ECB's reference rate compares with the Federal Reserve's noon buying rate.
Why the official peso-dollar rates differ most on the days the peso moves
Banco de México's FIX, the Federal Reserve's noon buying rate and the ECB's cross rate: the hour each is set, how far apart they are on calm days and on days the FIX moves more than 1%, and how far the costs of sending dollars to Mexico spread in the World Bank's survey.
Why the ECB's euro reference rate is not a fixing
The ECB's euro foreign exchange reference rates: how they are set around 14:10 CET and published at 16:00, why the ECB publishes them for information only, how the list of currencies has changed since 1999, the euro's fixed conversion rates, and why EU law makes them the benchmark for card payments.
How the BSP's peso-dollar rate is set, and how the peso came to float
The Bangko Sentral ng Pilipinas's peso-dollar rate: the weighted average of the banks' trades of the day before, published at 8:30 a.m.; its use in banks' books; the peso's two pesos per dollar to 1960 and its float from 1970; and how the rate compares with the ECB's and with what senders pay.
How the Czech koruna was held at 27 per euro
The Czech National Bank's daily fixing, its use in accounts, taxes and customs, the end of the basket peg in May 1997, and the exchange rate commitment of November 2013 to April 2017, read off the fixing: never below 27 koruna per euro until the day it ended.
Why the naira's official rate has moved in steps
The Central Bank of Nigeria's rates: its central rate and the NFEM rate it calls official, how the dollar's rate held for months and moved in single steps until 2023, how it has followed the market since, and how far the bureau de change rate stood from the interbank rate.
How the NBU fixed the hryvnia's official rate during the war
The NBU's official hryvnia rate: how it is set from interbank deals, how the NBU fixed it from February 2022 to October 2023, what its series since 1996 shows, and how far the rate for cash dollars moved from it.