Exchange Rates

News & Analysis as of

Bennett Jones Spring 2016 Economic Outlook

This Spring Outlook has three sections. The first section sets out our view of the economic outlook commencing with a very short summary of recent world economy dynamics, followed by a review of the outlook for global growth...more

U.S. Manufacturing Continues as World Leader

The latest Research Briefing from Oxford Economics claims that the U.S. manufacturing sector is “the most competitive worldwide.” Pretty strong statement there. Reading the news, one would find it hard to believe, so let’s...more

Ruble depreciation held to be sufficient ground for lease amendment

On February 1, 2016, the State Commercial Court for Moscow determined case No. A40-83845/15 involving a complaint filed by public joint stock company Vimpel-Communications ("VimpelCom") against public joint stock company...more

FMLC updates on benchmark reform

FMLC has written to the Commission on non-deliverable forward (NDF) rate sources under the proposal for a Benchmark Regulation proposal. FMLC considers legal uncertainties that may arise in relation to foreign exchange rate...more

Kruger: FX Derivatives Gains/Losses Taxed Only When Realized

In Kruger Incorporated v. The Queen (2015 TCC 119), the Tax Court held that the taxpayer could not value its foreign exchange options contracts on a mark-to-market basis, with the result that certain losses were not...more

Trade Promotion Authority Update: It's Halftime and Still Anyone's Ballgame

Like a football team scoring a touchdown in the closing seconds of the first half, the Senate passed the Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (the Trade Act of 2015) at 8:51 p.m. on Friday,...more

Bridging the Week - January 2015 #4

Swiss Franc-Euro Decoupling Spurs Worldwide Legal and Regulatory Fallout - Following the unexpected decoupling by the Swiss National Bank (SNB) of the Swiss franc-Euro exchange rate on January 15; the subsequent...more

CFPB Subjects Large International Money Transmitters to Supervision

The Consumer Financial Protection Bureau (CFPB) finalized its rulemaking defining larger participants in the international money transfer market. Companies that engage in at least one million international money transfers...more

CFPB Extends Comment Deadline for Proposed Temporary Exemption to Remittance Rule

The CFPB extended the comment period on proposed revisions to its remittance transfer rule that were previously issued in April 2014. The comment period was set to expire on May 27, 2014, and will instead now end on June 6,...more

Global Investigation of Manipulation of Benchmark Foreign Exchange Rates Focuses on Chat Group of Top Bank Traders

Competition authorities around the world are investigating whether banks manipulated WM/Reuters rates, which are used as a benchmark for foreign exchange (“FX”) rates for trillions of dollars of investment transactions. ...more

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