Buna and Standard Chartered celebrate euro real-time payments in Buna

The inclusion of the Euro in Buna will strengthen economic ties between the Arab World and Europe, as well as other international trade partners  

Buna (the payment system operated by Arab Regional Payments Clearing and Settlement Organization “ARPCSO”, owned by The Arab Monetary Fund “AMF”) and Standard Chartered held a ceremony today in the AMF premises to announce the live operation of euro cross-border payments in Buna.

The service is now activated by multiple participant banks from various Arab countries, with more participation expected in the upcoming weeks to benefit from the real-time settlement feature of euro payments taking place in Buna across borders in compliance with global best practices and international standards.

The Arab Monetary Fund released a study on: “An Analysis of Symmetric and Asymmetric Information in the Volatility Structure of Real Exchange Rates”

As a result of the symmetric analysis, the findings indicate that volatility structures of the real exchange rate markets' return under study are symmetrically informative.

An understanding of the volatility structure of foreign exchange rates is fundamental to assessing investment risks in the forex market. This study, therefore, analyzes the symmetric and asymmetric information in the volatility structure of selected Arab exchange rate markets.

The study applied the EGARCH model for analyzing the volatility structure of selected currencies using the daily data of rate of return of real exchange rates over the period from January 3, 2017, to June 2, 2022. These currencies are the Saudi Riyal, Kuwait Dinar, Bahrain Dinar, Egyptian Pound, Algerian Dinar, Tunisian Dinar, and Moroccan Dirham.

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