IMF FX Swaps

The International Monetary Fund is hurrying to approve by early November a package that would let certain emerging market economies exchange local currencies for U.S. dollars to ease short-term credit strains.
Opening swap lines gives central banks more ability to lend to their local commercial banks and get U.S. dollars circulating in overnight and short-term money markets.

Posted by jck at 3:59 pm ET on October 23rd, 2008 |

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