Reserves

Currency dealing liberalised in China

CHINA - The central bank has eased controls on foreign-exchange dealing by domestic banks to put them on an equal footing with foreign competitors, it was reported.

IMF urged to help Argentina

ARGENTINA - The South American trade bloc, Mercosur, has appealed to international lenders to do more to help Argentina as it draws up a plan to rescue the economy.

Debt relief urged for poorest seven countries

UK - Aid donor countries are to meet in London later this week to consider possible new financial support - including foreign debt relief - for the seven poorest countries of the former Soviet Union.

Central bank intervention and foreign ex rates

RESEARCH - Michel Beine, Agnes Benassy-Quere, Christelle Lecourt, Central bank intervention and foreign exchange rates: new evidence from FIGARCH estimations from the Journal Of International Money And Finance, Volume 21, Issue 1, 01-February-2002.

Venezuela c bank to start dollar auctions Monday

VENEZUELA - The Venezuelan Central Bank will start Monday with a daily auction of U.S. dollars to the currency market to guarantee supplies of dollars while the bolivar adapts to a new free-floating exchange system.

Watch the Fed for clues to rise in gold sector

FEATURE - Gold has broken out and there is no shortage of theories as to why and where it's going from here. But, according to Chad Williams, investors should pay no attention to outlooks based on supply and demand, hedging, central bank sales or even…

Riksbank's general council backs extra dividend

SWEDEN - The General Council of Sweden's Riksbank Friday presented a proposal to the Swedish parliament recommending that an additional SEK20 billion of the central bank's net income for 2001 be transferred to the Treasury.

Gold bugs should not get too excited

AUSTRALIA - Predictions of a sustained increase in gold prices are not expected to be realised. The reason for the lack of a sustained revival is the poor business foundations of the gold industry.

Argentine peso strengthens

ARGENTINA - It is now three days since Argentina allowed its currency, the peso, to float freely for the first time in more than a decade and so far the peso has held its own, contrary to many experts' predictions.

Banks review systems for managing risk

UK - Risk managers at banks in Britain and Ireland are re-examining defences against rogue traders following the loss of $750m (£532m) by Allied Irish Banks last week.

Argentina's peso firms

ARGENTINA - Argentina's peso has gained 10% against the US dollar on its second day as a free floating currency in a decade.

Peso float buys time in Argentina

ARGENTINA - The controlled flotation of the Argentine peso on Monday bought President Eduardo Duhalde's government a little time to continue improvising a plan to rescue the country from financial collapse, but pressing issues remain unresolved in the…

Speech by Koh Yong Guan, MD of the MAS

SPEECH - Koh Yong Guan said in the speech that the central bank is issuing an industry consultative paper on "credit portfolio stress testing," and the feedback from this will be used to formulate the guidelines. "Financial institutions in Singapore can…

Fears grow for Venezuelan currency

VENEZUELA - Venezuela's currency has renewed its slide, after support measures failed to stop investors, citizens and businesses converting cash into US dollars.

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