Reserves
Central banks want more action on FX risk
Central bankers have proposed a raft of measures aimed at further reducing foreign-exchange settlement risk.
No FX intervention in Q1 - NY Fed
The US monetary authorities did not intervene in foreign-exchange markets during the first quarter of 2008, the New York Federal Reserve said in its quarterly report to Congress.
Russia dismisses rouble speculation
The Central Bank of Russia moved to quash rumours of a revaluation of the rouble on Tuesday.
Prague backs CNB on move to halt koruna's rise
The Czech government will divert its foreign exchange income from currency markets, on the advice of the country's central bank, which is keen to temper the appreciation of the koruna.
Ethiopia makes arrests over fake gold scandal
Ethiopian anti-corruption officials arrested 26 people in connection with the discovery of 90 kilos of fake gold in the central bank's vaults.
The euro and Latin America
Lorenzo Bini Smaghi, a member of the executive board of the European Central Bank, offered five lessons that can be learned from economic and monetary union in a recent speech in Brazil.
China's peg harms economy
China's exchange-rate regime, which pegs the renminbi to the dollar, exacts high welfare costs from different sectors of the economy and poses long-term risks to financial stability, claims a new paper published by the European Central Bank.
UAE makes dollar loans following supply shortage
The Central Bank of the United Arab Emirates lent dollars on Monday 10 March after expectations that the authorities would revalue the dirham's peg against the greenback led to a currency shortfall. Media reports have also said that the central bank is…
Trichet notes exchange-rate instability fears
Jean-Claude Trichet, the president of the European Central Bank (ECB), has acknowledged that he is concerned about exchange rate volatility given the current value of the euro.
Morocco set to fast-track FX reform
Abdellatif Jouahri, the governor of the Central Bank of Morocco, has hinted that the dirham could move to a floating exchange rate regime early than previously thought.
EU's Barroso notes concern over euro's strength
Jose Manuel Barroso, the president of the European Commission, has acknowledged that the euro is now worryingly strong.
Czech's Tuma predicts currency depreciation
Zdenek Tuma, the governor of the Czech National Bank, has said that he expects recent gains in the koruna to be corrected.
Why Argentina did not have a currency board
The commonly held belief that Argentina ran a currency board from 1991 to 2002 is wrong, argues Steve Hanke
Sovereign wealth meets poverty in China
Matt Sekerke questions Chinese officials’ captivation with the glamour of international financial markets
A liability-based approach to sovereign wealth
Andrew Rozanov suggests that focussing on the liability profile of sovereign wealth funds is a useful way to understand their objectives and likely behaviour
Thailand lifts barriers on foreign capital
The Bank of Thailand is set to remove reserve requirements on short-term capital inflows.
UAE governor rejects Greenspan advice
The United Arab Emirates will keep the dirham pegged to the dollar despite calls from former Fed chairman Alan Greenspan to float its currency.
Hungary abandons euro peg
The Hungarian authorities have abandoned the forint's peg to the euro and moved to a floating exchange rate in a bid to lower inflation and speed up euro-accession.
US Treasury supports IMF gold sales, urges reform
The US Treasury has shifted its stance on International Monetary Fund (IMF) gold, saying it will now back the sale of about 8% of the Fund's reserves.
IMF finds formula for trade-shock recovery
Real exchange rate depreciation, along with improvements in government stability and the institutional environment can lead to a speedy recovery from terms-of-trade shocks, research published by the International Monetary Fund finds.
Reserve managers look to derivatives
A survey by Central Banking Publications, sponsored by the Royal Bank of Scotland, has found that central bank reserve managers are still searching for yield after the recent credit turmoil, and that over half of those surveyed see derivatives as an…
Stability offers insight into reserves trend
Financial stability and openness go a long way to explaining reserve holdings in the modern era of globalised capital markets, research published by the Centre for Economic Policy and Research finds.
Euro expectations stabilise currencies
Relatively stable market expectations for euro-locking rates have fixed the exchange rates of three central European currencies, research published by the National Bank of Hungary finds.
G7 ministers discuss IMF gold sales
"There was an acceptance among the G7 that resources should be raised by selling gold," said Tomasso Padoa-Schioppa, Italy's finance minister, who is also the head of the International Monetary Fund's (IMF) steering committee (IMFC).