# Fed opens dollar swap lines for 9 additional foreign central banks

> The Federal Reserve opened dollar swap lines to nine additional foreign central banks on March 19, 2020. Dollar funding demand outside the US had pushed dollar-funding costs sharply higher, and the dollar index had gained more than 7% in eight sessions. Several targeted currencies saw immediate relief after the announcement.

- Date: 2020-03-19 · published 2020-03-19T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/54305-fed-opens-dollar-swap-lines-for-9-additional-foreign-central-banks
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Easing offshore dollar shortages should weaken the dollar's safe-haven bid, which supports dollar-priced commodities and helps emerging-market importers of feed inputs.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-07-30 | [Fed extends swap lines and warns of slowing US economy - Central Banking](https://feedsoft.ai/events/52027-fed-extends-swap-lines-and-warns-of-slowing-us-economy-central-banking.md) | -0.3% | -0.5% |
| DXY | 2022-02-19 | [End of European Central Bank’s reign as dovish bastion likely to spark rebound for euro \| The National](https://feedsoft.ai/events/42902-end-of-european-central-bank-s-reign-as-dovish-bastion-likely-to-spark-rebound.md) | +0.4% | +1.0% |
| DXY | 2020-12-09 | [Central bank blames rapidly weakening dollar for stronger baht](https://feedsoft.ai/events/49907-central-bank-blames-rapidly-weakening-dollar-for-stronger-baht.md) | -0.0% | -0.5% |
| DXY | 2021-01-06 | [Slumping U.S. Dollar Creates Problem for Central Banks Elsewhere - Bloomberg](https://feedsoft.ai/events/49398-slumping-u-s-dollar-creates-problem-for-central-banks-elsewhere-bloomberg.md) | +0.5% | +1.6% |
| DXY | 2024-08-26 | [Interest rates: US dollar sinks as traders position for rate cuts by the Federal Reserve](https://feedsoft.ai/events/28691-interest-rates-us-dollar-sinks-as-traders-position-for-rate-cuts-by-the-federal.md) | +0.7% | -0.0% |

## Sources

- finance.yahoo.com: https://finance.yahoo.com/news/fed-opens-dollar-swap-lines-132409496.html
- reuters.com: https://www.reuters.com/article/economy/fed-opens-dollar-swap-lines-for-9-additional-foreign-central-banks-idUSKBN216310/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.