Our Scans · (FS.5.05) Foreign Exchange · Weekly Summary

• [New] Even outside of CLS, there are new opportunities for PvP settlement popping up to cover non-CLS currencies such as the B3 Foreign Exchange Clearinghouse in Brazil, CHATS in Hong Kong, and Buna in the United Arab Emirates. FX Markets
• [New] The combination of legal guarantees, tax relief, and hard currency protections addresses the trifecta of concerns - sovereign risk, fiscal unpredictability, and foreign exchange access - that have historically made Argentina a difficult jurisdiction for resource investment. Discovery Alert
• [New] The US dollar has exhibited less consistent safe-haven characteristics through the different shocks over the last year, resulting in higher foreign exchange risk for euro area investors. European Central Bank
• The main provision in 2026-2027 relates to a £178 million potential foreign exchange rate movement on EU Programmes hedging on forward contracts. GOV.UK
• Russia plans to block foreign cryptocurrency exchange websites starting in summer 2026, aiming to redirect crypto activity to locally licensed platforms. Phemex News
• Activity in foreign exchange derivative markets in Asia has increased in recent years, along with greater incentives to hedge exchange rate risk. Reserve Bank of Australia
• The variation margin on foreign exchange derivatives has risen substantially with the spike in geopolitical risk after the outbreak of the war in the Middle East. European Central Bank
• By 2030, the presence of XRP on a bank's balance sheet will likely be as common as holding government bonds or foreign exchange reserves. KuCoin
• Increasing the Bank of Mongolia's gold reserves will boost foreign exchange reserves, which is essential for stabilizing the purchasing power of the Mongolian tugrik and controlling inflation. MongolBeat
• Geopolitical risks in Argentina, including potential changes in government policy, inflation, or foreign exchange controls, could affect operations and profitability, despite the RIGI protections. Kavout
• Vietnam has sufficient buffers, although a prolonged surge in energy import costs and lower foreign exchange reserves could weaken its external liquidity. Free Malaysia Today

Last updated: 30 June 2026