Interbank market news scan: Comparison of foreign exchange rates amongst banks; defining counterparty risk.

Currency pair	Interbank market(1)	Bank of America	Wells Fargo	OANDA
EUR/USD	1.0887	1.0300	1.1471	1.0906
GBP/USD	1.2701	1.2037	1.3375	1.2722
AUD/USD	0.6678	0.6308	0.7023	0.6678
NZD/USD	0.6149	0.5825	0.6479	0.6164
CHF/USD	0.8979	1.0593	1.1754	1.11719
JPY/USD	0.0070	0.0066	0.0074	0.0070

1. These rates are average rates compiled by the Federal Reserve System.  

What is counterparty risk?

According to the news and education website, Investopedia, counterparty risk is defined as the likelihood or probability that one of those involved in a transaction might default on its contractual obligation. Counterparty risk can exist in credit, investment, and trading transactions.

Alton Drew

27 June 2023

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