Reserves
Roth on seventy years after the gold standard
In the speech 'Seventy years after - the final collapse of the gold standard in September 1936' given on 15 December Jean-Pierre Roth of the Swiss National Bank said the Swiss like to remember that their currency has only been devalued once since its…
Iran plans move towards euro from dollar
A spokesman for the Iranian government said Monday 18 December that the Central Bank of Iran will convert the state's foreign dollar holdings into euros and use the euro for foreign transactions.
Papademos on the global importance of the euro
In the speech 'The global importance of the euro' given on 17 November Lucas Papademos of the ECB said the share of the euro in global official foreign exchange reserves increased during the first few years following its introduction, but has remained…
Optimal currency shares in international reserves
The ECB Working Paper "Optimal currency shares in international reserves: the impact of the euro and the prospects for the dollar" says that foreign exchange reserve accumulation has risen dramatically in recent years.
Al-Suwaidi on the extended importance of the euro
In the speech 'The extended importance of the euro' given on 17 November Sultan Bin Nasser Al-Suwaidi of the Central Bank of the United Arab Emirates said the Euro will definitely grow to dominate trade outside the Euro Area.
China needs to manage FX reserves - economist
China needs to set up a new institution to manage part of its huge foreign exchange reserves now estimated to be over 1 trln usd, the official Shanghai Securities News reported Monday 4 December, citing a state economist.
ECB sells more gold
The ECB sold 23 tons of gold on 30 November, the central bank said.
China raises renminbi value
China has raised the value of the renminbi even as its central bankers rule out major reductions in the dollar share of the country's foreign exchange reserves.
New York Fed's Foreign Exchange Operations Report
According to the Federal Reserve Bank of New York's Treasury and Federal Reserve Foreign Exchange Operations quarterly report for July-September 2006, published 16 November, the U.S. monetary authorities did not intervene in the foreign exchange markets…
UAE has no plans to diversify into yen reserves
The governor of the United Arab Emirates central bank said Friday 17 November the UAE does not see the Japanese yen as an attractive currency to diversify into from its existing foreign exchange reserves.
Yen lures Swiss, Russian, NZ central banks
According to this article published Monday 13 November by Bloomberg, central banks are increasing their holdings of the yen, in anticipation of a rebound from a 20-year low.
Think-tank joins call for China FX diversification
A government think-tank said in a report published on Monday 13 November that China should diversify its US$1 trillion foreign exchange reserves by building up strategic reserves of crude oil, and precious metals.
China may shift reserves to gold - Numis
China is likely to diversify its foreign exchange holdings of more than one trln usd away from US dollar denominated instruments in favour of gold, Numis Securities said Monday 13 November.
China to stick to reserves policy - PBOC's Zhou
People's Bank of China governor, Zhou Xiaochuan, said Friday 10 November that the country has no plans to change its foreign reserves policy.
Qatar rules out reserve policy shift
Qatar central bank governor HE Sheikh Abdullah bin Saud al-Thani said Sunday 5 November that the Qatar has no plans to change its policy on foreign exchange reserves.
State TV reports China's reserves top 1trn USD
China's foreign exchange reserves have topped the 1.0 trillion US dollar level, state television CCTV said on Monday 6 November.
Iceland to strengthen foreign reserves
In recent months, the Ministry of Finance and Central Bank of Iceland have been engaged in discussions on strengthening the Central Banks foreign reserves, the central bank said Friday 3 November.
PBOC advisor plays down dollar risk to reserves
A senior People's Bank of China advisor has tried to calm fears over risks posed to the country's huge stock of dollar reserves by a slide in the value of the US currency.
Who wants to be a trillionaire?
According to this article from The Economist, published Thursday 26 October, China's foreign-exchange reserves are likely to top $1 trillion as October ends, but what to do with the money poses many problems.
Researcher says China should diversify reserves
A China-based researcher said in an interview published in the overseas edition of the People's Daily on Monday 30 October that China urgently needs to improve the management of its foreign exchange reserves by diversifying the holding to include natural…
UAE considers reserves options
The UAE's central bank might cut its dollar holdings by anything up to 50% and is looking at the yen, euro and sterling as alternatives, the central bank governor said. It was also announced that Bahrain and the UAE would compete to host the GCC central…
Nigeria's Soludo 'pressured' on foreign reserves
The governor of the Central Bank of Nigeria, Prof. Charles Soludo, has said he is under pressure from politicians to use the central bank's foreign reserves.
Plundering China's reserves
According to this article published Friday 27 October by The Wall Street Journal, with China's foreign-exchange reserves now close to the trillion dollar mark, calls to spend the money are coming fast and furious.
Fiscal indiscipline eroding Swaziland's reserves
A recent report suggests that fiscal indiscipline by the government has eroded Swaziland's foreign reserves in the past years.