Reserves
Asean members sign new swap agreement
The 10 Asean members signed a new Asean Swap Arrangement (ASA) in November, providing a total of US$1 billion of financial support, said Bank Negara Malaysia in a statement on Dec 29, 2000.
Philippine c.bank to tap its forex reserves
The Philippine Central Bank said it will tap its foreign-exchange reserves to pay maturing obligations in the first half of 2001. At the same time, the central bank said it will postpone indefinitely a plan to borrow funds from a group of local and…
Banco de Mexico assigns $250 mln in put options
Banco de Mexico said on Dec 28 it placed all $250 million in dollar put options it had offered for January. The options had an average premium of 21.58 pesos per $1,000. The central bank said in a statement that there were four institutions that placed…
Zambia technical group to probe kwacha weakness
Zambian Finance Minister Katele Kalumba said on Dec 22 the government had appointed a technical committee to study the kwacha's weakness and recommend ways to stabilise the currency.
China cbank spokesman on management of gold
A spokesman for the People's Bank of China (PBOC) said Dec 22 that without authorization from the State Council and ratification of the PBOC, no institutions or organizations are allowed to organize gold trading market.
Indonesia c.bank, dealers discuss forex rules
Indonesia's central bank met dealers from foreign and local banks on Dec 22 to discuss forex trading rules but little was decided, one banking source at the meeting said.
India's exchange rate policy and control
This article by S Tarapore originally printed in the Business Standard looks at India's exchnage rate policy and control.
Kenyan shilling weakens further on IMF concerns
The Kenyan shilling extended its decline against the dollar but at a slower pace on Dec 22 amid continued concerns about the future of Kenya's IMF aid programmme, dealers said.
Algerian debt falls sharply, foreign reserves rise
Algeria's foreign exchange reserves rose to $9,691 million in October 2000, a 120 per cent increase on the foreign exchange reserves held at the end of 1999, figures published in the December 2000 edition of the IMF's International Financial Statistics …
Taiwan banks ordered to stop forex forward trading
Taiwan's central bank has ordered three foreign banks and one domestic bank, which were allegedly engaged in foreign currency manipulation, to suspend their foreign currency forward transactions, according to banking sources.
Govt has no control over currency trading says MAS
The Monetary Authority of Singapore said the government does not exercise any control over currency trading in Singapore. Currency values are determined by market forces and the banks which trade them are merely "intermediaries" which allow them to find…
Venezuela slows depreciation rate of currency band
Venezuela's central bank said on Dec 21 2000 it would slow the depreciation of the central parity rate of the bolivar currency next year to 7.00 percent annually, from about 12 percent this year.
Australia's central bank supported A$, worst over
Australia's central bank intervened to support the local dollar to the tune of A$860 million in November as the currency plumbed record lows, the Reserve Bank said on Dec 21.
China c.bank says gold exchange venue not set
China's central bank said on Tuesday it had not decided where to set up the first national gold exchange, denying a newspaper report it would be located in Shanghai.
Anglo sees no immediate impact of Zambia controls
Mining giant Anglo American Plc said on Wednesday its business interests in Zambia would not be affected immediately by the country's decision to impose limited foreign exchange controls.
Speculators eroding Nigerian naira's value-c.bank
The Central Bank of Nigeria said on Tuesday it had provided a total of $6.7 billion in funding for the domestic foreign exchange market this year but that speculators had robbed the economy of the benefits.
Zambia c.bank sets forex controls to help kwacha
Zambia's central bank introduced limited foreign exchange controls on Tuesday to stem the decline in its currency this year, drawing swift protests from companies in the country.
Ukraine c.bank mulls relaunching currency futures
Ukraine may relaunch its currency futures market next year but the central bank will still hold the foreign exchange market in a tight grip, a senior central bank official said on Tuesday.
Yugoslavia an IMF member, to receive $100m-Dinkic
Yugoslavia will have $100m at its disposal on the basis of gold reserves, which Former Yugoslavia has in the Bank of International Settlements in Basel, Mladjan Dinkic, Yugoslav National Bank governor, announced this evening.
Venezuela to slow bolivar depreciation in 2001
Venezuela's central bank will announce a slower depreciation rate of the bolivar currency and possibly a new central parity rate within the next two weeks, senior bank officials said Thursday.
S. Korea to end certain exchange controls in 2001
The South Korean government will end restrictions on the amount of foreign currency travellers can take out next year, but those who carry more than US$50,000 should first secure Bank of Korea approval, the finance and economy ministry said Thursday.
IMF says zloty interventions OK to help reserves
The International Monetary Fund on Wednesday said Poland's central bank could consider foreign exchange intervention to maintain the ratio of foreign reserves to hard currency liabilities.
Hungary forint regime may change, says minister
Hungary's foreign exchange regime, built around a 4.5% wide flotation band and a crawling peg devaluation, may change next year, finance minister designate Mihaly Varga said on Wednesday.