Latest news with #interbank
Times of Oman
04-08-2025
- Business
- Times of Oman
OQ officially joins SWIFT network integration
Muscat: OQ has officially joined the SWIFT network, the global financial messaging system operated by the Society for Worldwide Interbank Financial Telecommunication. This strategic move enables OQ to receive electronic bank statements directly via its own SWIFT address, without intermediaries. The integration empowers OQ to manage its financial operations with greater transparency, accuracy, and real-time access to banking data from both local and international institutions. This enhances investor confidence and strengthens the Group's global appeal. 'This achievement marks a major milestone in OQ's digital transformation journey and reflects our ongoing commitment to implementing international best practices,' said Sabrina Al Bakri, Chief Financial Officer at OQ. 'By adopting advanced financial infrastructure and streamlining institutional financing processes, OQ continues to position itself as a future-focused energy leader rooted in operational excellence,' she added. Direct integration with SWIFT significantly streamlines bank reconciliation cycles, enhances the accuracy and timeliness of financial reporting, and reinforces the integrity of daily transactional accounting. This advancement supports OQ's broader strategy to modernise its financial architecture and implement digital solutions that drive operational agility and fiscal discipline across the Group.
Reuters
15-07-2025
- Business
- Reuters
Boxed-in Indian rupee revives appetite for selling short-term volatility
MUMBAI, July 15 (Reuters) - The Indian rupee's narrow range over the past two weeks, alongside established support and resistance levels, has sparked interest in selling short-term volatility, with large corporates and interbank players looking to monetise the relative calm. The rupee was quiet on Tuesday, inching up about 0.1% to 85.90 against the U.S. dollar, after trading in a narrow 12-paisa intraday range on Monday. Over the past two weeks, the rupee's weekly trading band has narrowed to 50–60 paisa, pushing 10-day realised volatility down to 4.3% from over 6.5% late last month. During this stretch, the currency has established a well-defined range, finding support near 86.00 and resistance around 85.20–85.30. This is prompting interest from corporates and interbank to sell short-dated volatility. Two bankers said a prominent Indian conglomerate has been inquiring about selling 1-week to 1-month volatility - a strategy that pays off if the rupee continues to trade within its current range. "Volatility selling is making a comeback in a small way, and it makes sense considering the recent price action. The rupee's range feels pretty well locked in for now, and its reaction to headlines has been fairly limited," said the head of FX and rates at a mid-sized private sector bank. He added the rupee was finding support around the 86 level without visible intervention from the Reserve Bank of India, suggesting the market positioning by itself is keeping the dollar/rupee boxed in. Bankers noted that despite last week's barrage of U.S. tariff headlines, the rupee held firm in the 85.90–86.00 zone, underscoring the strength of the current range. The absence of a U.S.-India trade deal hasn't rattled the currency either. "The U.S.–India trade deal news flow is one to watch,' said Apurva Swarup, vice president at Shinhan Bank India. "Depending on how it evolves, we could see the current range on the rupee widen slightly — although not drastically. The broader tone still feels anchored."
Reuters
25-06-2025
- Business
- Reuters
India's central bank extends call money market timing by 2 hours
MUMBAI, June 25 (Reuters) - The Reserve Bank of India on Wednesday extended the trading hours for the interbank call money market by 2 hours to 7:00 p.m. IST, with effect from July 1. Banks borrow and lend money in the call market. The revised timings for the call market will be 9:00 a.m. IST to 7:00 p.m. IST. The central bank also extended the hours for market repo and tri-party repo to 4:00 p.m. IST, with effect from August 1. In May, a working group set up by the central bank had recommended longer operating hours for the interbank money markets. The trading hours for government bonds, foreign exchange and interest rate derivative markets have been left unchanged.
Reuters
13-06-2025
- Business
- Reuters
Ugandan shilling slips on interbank demand for dollars
KAMPALA, June 13 (Reuters) - The Ugandan shilling weakened on Friday, pressured by a resurgence in demand for hard currency from interbank players seeking to bolster their positions, traders said. At 0838 GMT, commercial banks quoted the shilling at 3,600/3,610, compared to Thursday's close of 3,585/3,595.
Reuters
08-05-2025
- Business
- Reuters
Uganda shilling stable on subdued demand
KAMPALA, May 8 (Reuters) - The Ugandan shilling was stable against the dollar on Thursday, with hard currency demand subdued across both merchandise importers and interbank players, traders said. At 0821 GMT commercial banks quoted the shilling at 3,655/3,665, unchanged from Wednesday's close.
