Central Banks

China begins move to deregulate gold

The People's Bank of China, the country's central bank which has a monopoly on domestic gold trading, has taken the first step to deregulate the domestic gold market by reducing its authorised gold purchasing points in all provinces, industry sources…

Taiwan cenbank warns speculators of potential risk

Taiwan central bank's abrupt easing of its efforts to defend the Taiwan dollar against the US dollar in yesterday's late trading session, has wrong-footed both institutional and individual speculators who tried to take advantage from the central bank's…

Basis for unified payment system in Russia

In December, the Interagency Smart Cards Commission will present a draft plan for putting together a unified payment system in Russia. The system will be based on the payment system of Sberbank, and the clearance and cash center of the central bank will…

Kabila's Congo relaxes forex regulations

Democratic Republic of the Congo's central bank has eased restrictions on who can trade in foreign exchange and extended a list of transactions in which it can be used, state radio reported on Friday.

BOK head sees no capital flight next year

The implementation of the second-stage foreign exchange liberalisation plan next year is unlikely to lead to a sudden flight of domestic capital to foreign countries, Bank of Korea governor Chon Chol-hwan said yesterday.

Diusenberg says UK euro tests are irrevelant

European Central Bank chief Wim Duisenberg today dismissed Gordon Brown's five economic tests for joining the single currency as irrelevant and insisted that Britain would have to join the European exchange rate mechanism for two years before adopting…

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