Reserves
Israel’s Golan Benita on reserve management amidst the AI boom
The head of market operations at the Bank of Israel discusses a shift to active equities to address ‘Mag7’ risks, the rationale for extending duration, and his critical view of crypto and gold
Trends in reserve management 2026: survey results
101 central banks, responsible for $9.5trn+ reserves, reveal exclusive data on FX interventions, if the US dollar is still seen as a safe-haven currency and approaches to investing in 20+ currencies
Romania spends €2.1bn to stabilise leu as government falls
Central bank’s reserves went from €67bn in March to €64.9bn in April
Japan’s government reportedly intervenes in FX market
First intervention in nearly two years after yen fell to weakest level since July 2024
Geopolitics voted top risk among reserve managers
Reserve Management Trends survey finds preparations made in peacetime are being put to the test
FX interventions are about smoothing volatility – panel
Speakers at Central Banking Meetings also discussed reserve composition and transparency
Central banks face ‘double whammy’ from Iran war
Policy-makers will have to tackle impact of higher inflation and greater fiscal stimulus
Iran war has triggered ‘peak’ FX volatility, say reserve managers
Officials tell Central Banking Meetings that oil supply shock is on its way
Banque de France made €11bn by ‘bringing gold up to standard’
Exchanging lower-quality NY bullion for higher-spec European bars led to ‘exceptional’ capital gain
Alexander Khazaradze on the NBG’s direct investments into CNY
Georgian central bank’s financial markets head speaks with Levente Koroes about the decision to invest up to 5% of its foreign exchange reserves in the onshore renminbi market
Reserve managers weigh tactical response to Middle East conflict
Some make case for ‘nimble’ duration management, but others say uncertainty is too high
Dollar still ‘special’ but Treasuries losing shine – NBER paper
Authors show ‘strong divergence’ between global roles of greenback and US government bonds
RBI battles to shore up rupee as currency hits all-time lows
Central bank deploys directive against lenders after FX reserves fall below $700bn
PBoC reserve ratio cut spurs short-term FX hedging
Removal of 20% forex risk rule drives exporters towards options and onshore forwards
BoT concerned about baht overvaluation, minutes show
February policy meeting discussed need to ‘closely monitor’ currency’s movements
Asian central banks monitoring FX volatility amid oil shocks
Indonesia, Singapore and India look to manage inflationary pressures from war in Middle East