BIS says US gold scheme suit 'without merit'

The Swiss-based Bank for International Settlements rejected as baseless on Tuesday a US lawsuit alleging the BIS conspired with central banks and major international investment houses to keep the price of gold low.

Failure to reach agreement over ex-Yugo gold

The governors and vice-governors of central banks which emerged after the break-up of the former Yugoslav federation failed to reach an agreement on the distribution of gold and foreign currency reserves at the International Bank for Settlements in Basel…

Macedonia seeks bigger share of Yugoslav gold

Governor of the Central Bank of Macedonia Ljube Trpeski said that Macedonia and Bosnia-Herzegovina will request the Bank for International Settlements in Basel to change the formula for sharing of foreign currency reserves in gold of the former National…

Bangladesh Bank to increase forex reserves

Bangladesh Bank, the country's central bank, has launched a vigorous move to replenish the country's emaciated foreign exchange reserve by relaxing its regulation on remittances, the United News of Bangladesh reported on Tuesday.

Ukraine sees hryvnia steady near-term

Ukraine's fragile hryvnia currency is likely to remain steady in the next two months, backed by stronger demand ahead of the year-end, Serhiy Yaremenko, the head of the central bank currency regulation department, said on Thursday.

Thai says dlr/baht market back to normal

The Bank of Thailand said on Wednesday the dollar/baht market had returned to normal after gridlock over the past week as onshore banks scrambled to pare credits to offshore counterparties and funding costs soared.

Gold as part of diversified investment plan

Including gold in a diversified portfolio can improve investment performance and make the investment better able to cope with shocks to the system. World Gold Council institutional investment head Dr Robert Weinberg said gold can improve investment…

Banks await RBI governor speech at forex meeting

Indian foreign exchange market players are eagerly waiting to see if the Reserve Bank of India makes any direct or indirect comments on the foreign exchange markets and interest rates at the 21st Asia-Pacific Forex Congress.

ECB has own idea of optimal fx reserves-Issing

European Central Bank (ECB) member Otmar Issing said he felt the amount of foreign reserves held in the Eurozone was well within the range of estimates, but was evasive on whether this constituted an optimal level.

Thai central bank clamps down on baht speculation

The Bank of Thailand clamped down further on baht speculation on Monday, telling local banks it would start strictly enforcing a ban on one-day, tom/next and forward dollar/baht deals with offshore parties if there was no underlying commercial purpose.

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…

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