Reserves
Bank of England News Release
News Release - HM Government Gold Auction Programme: Announcement of Auction, 26 February.
India's Jalan- High FX reserves hedge uncertainty
INDIA - India's growing foreign exchange reserves - at record high levels and expected to touch $50 billion by the end of the fiscal year 31 March - "take into account every uncertainty," Reserve Bank of India Governor Bimal Jalan said Friday.
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.
German sale plan triggers gold slump
GERMANY - The price of gold fell on 20 February 2002 following comments by the president of Germany's Bundesbank.
Venezuela 'declares war' on speculators
VENEZUELA - Venezuela's president Hugo Chavez has declared a "war on speculators" as prices rose after last week's currency devaluation.
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.
Bangladesh talks with IMF fail
BANGLADESH - Negotiations between Bangladesh and the International Monetary Fund for an emergency balance of payments loan have failed.
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…
Dutch c bank issues credit derivatives guidelines
NETHERLANDS - The Dutch central bank said Friday that it has issued guidelines to the Dutch financial sector on the use of credit derivatives to spread risks.
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.
Venezuela's currency slides after floating
VENEZUELA - Venezuela's currency has fallen 3.9% to about 824 bolivars to the dollar after the government scrapped five-year old exchange rate controls.
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…
Sovereign Debt Restructuring - Thomas C. Dawson
LETTER - A Letter By Thomas C. Dawson, Director, External Relations Department, International Monetary Fund, 7 February.
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…
Devaluation fears hit Nigeria's currency
NIGERIA - The Nigerian naira fell on the official currency market, following a slide on the black market on Friday on fears that a devaluation is imminent.
Czech National Bank shows loss for 2001
CZECH REPUBLIC - The Czech national Bank (CNB) posted a loss of CZK 28.6 bn in 2001, against a profit of CZK 2.5 bn in 2000, according to figures released by the bank.
Argentina has a month to get IMF aid, bankers say
ARGENTINA - Argentina may descend into a chaotic spiral of hyperinflation and social unrest unless the government can secure a massive IMF loan package in the next 30 days, local bankers and analysts said.