Reserves
Central bank invite non-resident to invest in Iran
IRAN - The Governor of the Central Bank of Iran(CBI) Mohsen Nurbakhsh called on the non-resident Iranians to invest in Iran and use their assets to buy shares from Tehran exchange market.
IMF shows support for Hong Kong dollar peg system
HONG KONG - The International Monetary Fund Thursday voiced strong support for Hong Kong's currency peg system to the U.S. dollar, and said it hasn't eaten into the regions economic growth.
Argentina tightens banking freeze
ARGENTINA - Argentina's Congress has passed a law aimed at rescuing the country's banks by making it more difficult for savers to withdraw their cash.
BOU forex strategy may be paying off
UGANDA - The Bank of Uganda's (BOU) new strategy of intervening into the foreign exchange market without disclosing amounts sold, seems to be working, reports New Africa News.
Afghanistan backs national currency
AFGHANISTAN - The central bank in Afghanistan has intervened to support the national currency, buying $500,000 worth of afghanis from the Kabul money market.
ECB's Noyer sees gold's role as reserve declining
GERMANY - Outgoing European Central Bank Vice President Christian Noyer said on Tuesday that the role of gold in central bank reserves was declining but was still part of central bank credibility.
Argentina "very close" to IMF accord - Report
ARGENTINA - Argentina's economy will shrink even further this year, the International Monetary Fund has warned.
Abachas reported to return $1bn to Nigeria
UK - The family of Sani Abacha, Nigeria's former dictator, has agreed to return $1bn ( £600m) in funds looted from the country's central bank in return for the dropping of theft and money laundering charges against Abacha's son and one of Abacha's…
Vietnam ctrl bk to expand open mkt ops by June
VIETNAM - Vietnam's central bank is planning to hold two sessions of open market operations a week, instead of one currently, to expand dong liquidity, a bank official said Thursday.
FX traders to kiss goodbye to settlement risk
FEATURE - Currency traders, more aware of the potential for disruption in the financial system after September 11, should draw comfort from a long-awaited settlement system linked to central banks that is due to go live this year.
Kazakh gold/forex reserves up to $2.65 bln
KAZAKHSTAN - Kazakhstan's net gold and foreign currency reserves grew to $2.650 billion on April 15 from $2.625 billion on 31 March, the central bank said on Wednesday.
India considers establishing gold exchange
INDIA - Pressure is building on the Indian federal government to give clearance for setting up a gold exchange for spot, forward and futures trading in the precious metal.
Japan's credit rating lowest among G-7 nations
US - Japan's credit ratings were cut to "AA-" by Standard & Poor's, the third reduction in 14 months for the world's second-biggest economy.
WGC reaffirms, central banks should not sell gold
AUSTRALIA - The World Gold Council is continuing to ask European central banks to leave their reserves alone rather than putting quantities of gold up for auction, WGC managing director Robert Weinberg said Tuesday.
Philippines - Derivatives supervision tightened
PHILIPPINES - The Philippine Central Bank has tightened its supervision of the derivatives market by requiring the affiliates of all financial institutions to seek approval from the monetary authority before undertaking such transactions.
Gold market calmer on Welteke reassurance
GERMANY - The gold market was reassured by the statement made by Bundesbank President Ernst Welteke on Thursday that the international agreement limiting gold sales by central banks was worth extending once it expired at the end of 2004 and that any…
Central Bank changes worry forex market
UGANDA - The forex market has been unnerved by Bank of Uganda's decision to intervene discreetly rather than announce its specific actions in the market.
Taiwan has third largest currency reserve in world
TAIWAN - Taiwan's currency reserves continue to accumulate and at the end of March they reached the historic level of $128.03 billion, the island's Central Bank announced on Friday.
WGC responds to speculation on Buba gold reserves
GERMANY - The World Gold Council has responded to speculation arising out of recent statements made by the President of Germany's Bundesbank and others by giving its reasons why the Deutsche Bundesbank should continue to hold its gold reserves.
Poland's c bank intends to cut mandatory reserves
POLAND - Poland's central bank NBP intends to decrease the level of mandatory reserves to 2% from the current 4.5% with the aim of adjusting the Polish system in line with EU standards, according to the NBP's task schedule for 2002-2004.
Norway c bank governor points to debt risk
NORWAY - Norway's central bank governor Svein Gjedrem reiterated on Friday that high credit growth posed a risk to the Norwegian oil-backed economy.
Argentine c bank says banks can release funds Jan
ARGENTINA - The Argentine Central Bank said on Friday it would allow commercial banks next January to release deposits which have been frozen in their vaults since late last year to the fury of depositors.
Estonian c bank end March reserves up 4.6 pct m/m
ESTONIA - The Estonian central bank said on Friday its gold and foreign currency reserves rose 4.6 percent to 13.9 billion kroons ($781.3 million) by the end of March versus 13.3 billion at end-February.
Applied Financial Economics research paper
RESEARCH - 'The impact of federal reserve intervention on exchange rate volatility: evidence from the futures markets' by Sanjay Ramchander and R. Raymond Sant.