BIS: Dollar Swaps Growth Weak, Forex Declines

NEWS

BASEL--Revealing a surprising lack of growth in the US dollar swaps, the Bank for International Settlements (BIS), the international central bank, last week released its quarterly review entitled International Banking and Financial Market Developments.

The weak growth of US dollar swaps is significant, the BIS says, because it took place at a time of an apparent increase in the use of such swaps for taking positions on, or hedging against, US interest rate movements.

The BIS notes swaps marke