Reserves
World central bank gold holdings down 3.2%
Analyst John C Tumazos of Prudential Financial said on Tuesday 2 November that world central bank gold holdings have declined by 3.2% since November 2002.
A new approach to liquidity management
Management of its foreign exchange exposure by a multinational firm provides a template for managing official reserve assets, argues Robert Z. Aliber.
Zimbabwe to tap huge platinum reserves
Reserve Bank of Zimbabwe governor Gideon Gono said over the weekend that the government was in talks with foreign investors to tap huge platinum reserves valued at 290 billion US dollars.
Report says Argentina to relax forex controls
The Argentine central bank will try gradually to lift controls imposed on foreign exchange transactions, daily La Nacion reported, without naming sources.
Putin positive on Russian economic situation
Russian President Vladimir Putin is positive about the economic situation in Russia. Interfax in Moscow quoted Putin as saying the economy was developing "very energetically".
Renewed central bank gold sales not disruptive
A report by London metals researcher GFMS suggests that renewed selling of gold by central banks is unlikely to be a major disruptive factor in the market, Business Day reported on Tuesday 19 October.
Trinidad & Tobago central bank selects Finance KIT
Trema, a leading provider of strategic software solutions for the financial industry, announced on Friday 15 October that the Central Bank of Trinidad and Tobago (CBTT) in Port of Spain has selected the Trema solution, Finance KIT, to support its foreign…
The lobster trap of central banking
According to an article published this week, central banking is a gigantic lobster trap. It is set by the commercial banking industry and the government, which grants the central bank a monopoly over the control of the monetary reserves (government debt)…
The fight over Venezuela's central bank profits
Last weekend Venezuela's President Chavez once again attacked the central bank over the amount of "foreign exchange profits" it should turn over to the government. With Chavez threatening to go to the Supreme Court on the issue, this article suggests the…
Venezuela's central bank under threat from Chavez
Venezuela's President Hugo Chavez has repeated threats to the central bank that if it doesn't allow him to use part of its international reserves to fund his social programs for the poor, he will get a Supreme Court order to force it.
RBI chief Reddy sees oil price as concern
The Reserve Bank of India Governor YV Reddy said on Thursday 7 October that the sharp rise in global oil prices was a matter of concern but India was well equipped to handle the situation due to sufficient forex reserves.
UK seeks stability for gold in IMF revaluation
Any revaluation of International Monetary Fund (IMF) gold reserves would have to be done in a way which would preserve gold market stability, British Chancellor of the Exchequer Gordon Brown said on Monday 4 October.
Switzerland's last tranche of gold sales
In spring 2000, the Swiss National Bank began selling that part of the gold reserves no longer required for monetary policy purposes. The sales - which will total 1,300 tonnes - have to date been effected according to the agreement on gold sales…
Argentina's repayment dates to IMF extended by 1yr
Argentina's debt repayment dates to the International Monetary Fund were extended by a year on Friday, the agency said.
Korea's possible central bank deficit
The Bank of Korea is highly likely to register a deficit this year for the first time in a decade, according to this article. The Ministry of Finance should refrain from meddling too much in the market and let the central bank do its job of stabilising…
Profitability of RBA foreign exchange operations
Since the float of the Australian dollar in December 1983, the Reserve Bank of Australia has retained the discretion to intervene in the foreign exchange markets in order to avoid what it perceives to be large overshooting in the currency. This paper…
No gold sale plan, says Bank of Italy
In a statement released on Monday 13 September, the Bank of Italy said it had no plans to sell its gold reserves.
RBI's Udeshi on bank supervision- challenges ahead
In a speech on 'Bank Supervision - Challenges Ahead' given on 28 August, Smt. K.J. Udeshi of the Reserve Bank of India said in view of the relevance of improved risk management systems under the changing circumstances and the larger emphasis placed on…
Romania cb prepares for cap account liberalisation
The National Bank of Romania (BNR) is preparing to fully free the capital account by cutting the interest rates to the national currency leu deposits, the Capital weekly reported in its latest issue.
IMF chief urges Argentina to resolve debt plan
The head of the International Monetary Fund urged Argentina on Tuesday to complete a $100 billion debt restructuring to sustain its recovery from economic crisis.
IMF's Rato to visit Argentina
Rodrigo Rato, the managing director of the International Monetary Fund, was due in Buenos Aires on Tuesday for talks on Argentina's financial situation.
India moves to reform government securities market
The Reserve Bank of India may soon lose its position as exclusive banker to the Government of India, reports Business Standard. If the Government Securities Act, which will replace the 1944 Public Debt Act, is passed by parliament, other banks will be…
Japanese buy up record US bonds
Japanese investors bought a record amount of foreign bonds last week, Reuters said. Data released on Thursday 12 August showed Japanese investors bought a net 1.859 trillion yen ($16.8 billion) of foreign bonds in the week of Aug. 2-6, in the run-up to…
Argentina to honour IMF debts
Argentina will honour its multi-billion dollar debts to the IMF to the end of the year despite an impasse in loan negotiations, Cabinet Chief Alberto Fernandez said Monday.