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Saturday, 31 July 2021

US Fed extends dollar lifeline for central banks

Deal had been due to expire in January that allows central banks to trade in dollar

AFP, Tuesday 21 Dec 2010

The US Federal Reserve on Tuesday extended until August an emergency tool for other central banks to access dollars, amid market jitters and high demand for the safe greenback.

The deal, which was due to expire in January, allows the central banks of Britain, Japan, Canada and Switzerland, as well as the European Central Bank, to keep trading local currency for dollars.

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