Reserves
BSP eyes tighter rules on FX transactions
Rafael Buenaventura of the Philippines Central Bank told reporters the BSP aims to tighten foreign exchange rules following the peso's steep decline against the US dollar, acording to a report by AFX.
Central banks sold 280 tonnes of gold this year
According to Gold Fields Mineral Services central banks sold a combined 280 tonnes of gold in the first half of 2003. 80% of the sales were from the 15 central banks in Europe which make up the Washington agreement.
PBOC repeats pledge to hold exchange rate stable
The People's Bank of China pledged Tuesday to continue to carry out a prudent monetary policy and further improve the RMB exchange rate system, Xinhua News Agency reported.
Brazil may cut central bank reserve requirement
The Central Bank of Brazil may lower its reserve requirement for commercial banks by as much as 20 percent, Bloomberg reports President Lula's chief of staff as saying.
Bundesbank denies sale of US debt
A spokesman for the Bundesbank said "We're not selling anything" regarding the heavy sale of debt of Fannie Mae, Freddie Mac this week, the Wall Street Journal reported. Buba denials follow similar comments from the ECB.
C bank criticises Venezuela's exchange controls
A director of Venezuela's central bank, Domingo Maza Zavala, said Wednesday the process has been "slow and insufficient" and urged the government to speed up the flow of dollars. Maza Zavala said Venezuela should release more of its foreign reserves into…
Rumours of ECB sale of US agency securities denied
Speculation that the European Central Bank is selling off debt have been denied by ECB officials, Dow Jones reported. An early July decision by the ECB to tightening risk standards in its market operations and for its member central banks led to rumours…
Brazil's real falls before swap offer expiration
The Brazilian real fell for the fifth day in six on Tuesday 29 July, Bloomberg reported, as investors awaited the results of the central bank's securities swap arrangement.
India's forex reserves soar to new record
The Reserve Bank of India confirmed that India's foreign exchange reserves exceeded US$84 billion in July posting a new record high, according to Asia Times. Analysts said the rise in India is mainly due to fresh inflows and revaluation of non-US…
China claims success on currency front
The People's Bank of China has said upward pressure on its currency is being reduced with the help of regular open market offerings of central bank bills, according to the Financial Times. "We will persist with the central bank bills for some time to…
Thailand's central bank loosens currency controls
Due to an excess of savings, Thailand's central bank will allow local financial institutions to invest up to 500 million dollars abroad, deputy governor Thirachai Phuvanatnaranubala said on Wednesday 23 July, according to a report by Agence France-Presse.
Afghan central bank to restrict capital outflows
Anwar Ahady, president of Afghanistan's central bank said Wednesday the Bank will impose a limit of the equivalent of 10,000 US dollars that any individual and organization can take out of the country, Xinhua News Agency said.
What to do about the Yuan
This article looks at Alan Greenspan's comments this week that China's currency peg is unsustainable with a huge accumulation of US dollar reserves standing at $346.5 billion at the end of June. The pace of the increase in flows is astounding, the Asian…
Putin signs law to lower dollar sale requirement
Under a new amendment to the law on currency regulation and control in Russia, the amount of mandatory dollar revenue sales has been cut from 50 per cent to 30 per cent.
Venezuela considers parallel forex market - c bank
Domingo Maza, one of the directors on the board of Venezuela's central bank said Thursday, Reuters reported, that the government and central bank were looking at ways of improving the control regime to speed up the flow of dollars into the economy.
BOJ is watching bond yields 'closely' Suda says
Bank of Japan board member Miyako Suda said in a speech that the BoJ is closely watching the bond market but it will take time to assess the effect of asset prices on the economy, according to a report by Bloomberg.
Belgian central bank shares drop on court ruling
A commercial court in Belgium has dismissed as unfounded a law suit calling for an extraordinary meeting of shareholders of the Belgian central bank, according to Reuters. The meeting was to ask for the dissolution of the Bank because a transfer of the…
Venezuela c bank seeks easing of forex controls
The central bank of Venezuela has appealed for a relaxation of the foreign exchange control regime currently in place, according to a report in the Financial Times. Domingo Maza Zavala, a central bank director, said the bank has called on the finance…
Controversy surrounds Venezuela's forex controls
Venezuela's finance minister Tobias Nobrega has announced that he will shortly be revealing to the Venezuelan public the changes to be made in the foreign exchange system, says VHeadline. However central bank board member Domingo Maza Zavala claimed the…
Moldova's central bank diversifies forex reserves
The central bank of Moldova has diversified its foreign exchange reserve portfolio to guard against exchange rate risk, according to the ITAR-TASS news agency.
Joint note from the BCBS, IAIS and IOSCO
The Joint Forum Risk Management Practices and Regulatory Capital Cross-Sectoral Comparison, June 2003. The joint note provides a record of the initiatives taken by each sector to combat money laundering and the financing of terrorism.
Venezuela's exchange control system may be relaxed
Restrictions on Venezuela's foreign exchange market may be lifted by the country's foreign exchange regulatory body, CADIVI, in the near future. The president of CADIVI said studies of proposals for relaxation were almost complete, according to a report…
Polish fin min demands Bank reserves later resigns
Poland's finance minister Grzegorz Kolodko on Wednesday called for an additional 5bn zlotys from the revaluation reserve of the central bank to go to the 2004 budget, a move the central bank governor firmly rejected. However, Kolodko later resigned after…
Japan's central bank to buy securities
The Bank of Japan has decided to buy asset-backed securities, according to a Reuters report. Before this it had restricted its purchases to government bonds, which carry less risk than securities. The bank said the scheme could start as early as next…