Reserves
Central bank reserve management forum
The Brunei Ministry of Finance hosted the 5th Southeast Asian Central Banks Research and Training Centre (SEACEN) Executive Committee (EXCO) meeting this week at the Rizqun International Hotel.
Report recommends limited IMF gold sales
The report by the Committee of Eminent Persons released has recommended that the Fund sell 400 tonnes of its 3,217 tonnes of gold to finance an endowment fund.
Report says China to set up FX investment unit
The Chinese government is expected to introduce a number of foreign exchange reform measures this year including setting up a state forex investment company, the China Securities Journal reported Thursday 1 February, citing an unnamed state official.
Malaysia confirms dollar reserves shift
Malaysia has moved some of its $82 billion of currency reserves away from the dollar, Prime Minister Abdullah Ahmad Badawi told reporters Tuesday 30 January in Davos.
More on China's new finance strategy
Following the new strategic guidelines announced by the Chinese prime minister, Wen Jiabao, following the crucial meeting of the Central Financial Committee last weekend, CentralBankNews.com understands that a more detailed document will be published…
China aiming for 'basic balance' in payments
The head of China's currency regulator SAFE said Sunday 21 January that it will ease rules for capital to flow out of the country this year while making it harder for money to enter.
China's reserves plan 'won't hurt U.S. dollar'
There is only a small chance of any immediate fallout on the U.S. dollar resulting from China's decision to alter the way it plans to manage its $1.06 trillion in foreign exchange reserves, according to The Wall Street Journal.
Russian central bank reserves drop
The Russian central bank said Thursday 18 January its gold and foreign currency reserves have dropped by 2.2 bln usd in one week, with levels standing at 301.7 bln usd on Jan 12.
Philippines' Tetangco on risk management
In the speech 'Central Bank of the Philippines' initiatives to strengthen risk management practices in banks' given on 6 December Amando M Tetangco, Jr of the Central Bank of the Philippines said BSP initiatives are geared towards simultaneously…
Venezuela plans using reserves to nationalize
This article from Bloomberg, published Thursday 11 January, looks at the recent decision to use Venezuela's international reserves to compensate owners of the telephone, oil and power companies under President Hugo Chavez's plans to nationalize.
NY Fed's Geithner on the global economy
In the speech 'Developments in the global economy and implications for the United States' given on 11 January Timothy Geithner of the Federal Reserve Bank of New York said a large accumulation of dollars in official reserves has helped keep U.S. interest…
Oman to keep 80% dollar reserves
Oman favours keeping most of its $5 billion of central bank reserves in dollars rather than euros because the US currency pays higher interest, the central bank governor was quoted by Reuters as saying.
China can do better than swap dollars for oil
This article published by Bloomberg on Tuesday 9 January asks why China couldn't earn more by shifting some of its reserves to high-yield investments instead of keeping all its money invested in hard- currency debt issued by foreign governments.
Argentina's Redrado says reserve building vital
Argentine central bank president Martin Redrado said Monday 8 January Latin American countries should take advantage of the current moment of good economic growth to build up foreign reserves to prepare for unforeseen problems.
Central banks tiptoeing away from the dollar
According to this article from The New York Times published Tuesday 2 January, nations with large holdings of dollars are becoming increasingly willing to dump them in favour of the euro.
IMF paper on large international reserves hoarding
The IMF Working Paper 'Financial versus monetary mercantilism: Long-run view of the large international reserves hoarding' says that the sizable hoarding of international reserves by several East Asian countries has been frequently attributed to a modern…
China may use Singapore in managing reserves
China could manage its massive foreign exchange reserves according to the "Temasek Model" of Singapore, according to Wu Xiaoling, vice-president of the People's Bank of China.
Bank of Slovenia joins Central Bank Gold Agreement
The central bank of Slovenia has joined the Central Bank Gold Agreement which limits gold sales by central banks, the European Central Bank said Friday 22 December.
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.