US dollar
Dodge urges "urgent action" on imbalances
In this speech given in Bridgetown, Barbados on 6 February, 2006 the governor of the Bank of Canada, David Dodge, argues that the "need for urgent action has increased" with regard to reducing the risks to the global economy posed by global imbalances.
IMF's Rato on global imbalances
In a speech at the University of California at Berkeley last week the International Monetary Fund's managing director, Rodrigo de Rato, said the United States should "tackle its current account deficit by increasing domestic saving". Reducing the fiscal…
Zhou says dollar weighting less than 50%
The weighting of the dollar in China's currency basket used as a reference to value the yuan is "much less than 50 percent," according to the People's Bank of China governor.
China: No plan to sell dollar assets, buy oil
China has no plan to sell off its US dollar assets, the head of the People's Bank of China, Zhou Xiaochuan, was quoted as saying in the official Shanghai Securities News.
Taiwan says FX turnover no intervention indicator
The Central Bank of Taiwan has urged speculators to stop second-guessing central bank policy actions on the Taiwan dollar on the basis of the forex market's daily turnover.
Foreign exchange reserves in emerging Asia
The Bank of Canada Working Paper "An empirical analysis of foreign exchange reserves in emerging Asia" published December 2005 asks how far is the current level of US-dollar foreign exchange reserves held by Asian central banks from that predicted by the…
Memorandum of Understanding between BNM & HKMA
Bank Negara Malaysia and the Hong Kong Monetary Authority jointly announced on Thursday 8 December the signing of a Memorandum of Understanding (MOU) for the establishment of a large-value payment-system link between Malaysia and Hong Kong.
Bank of England's Lomax: 'dollar looks a good buy'
Bank of England deputy governor Rachel Lomax said on Thursday 24 November that the "dollar looks a good buy" because of interest rate differentials and other factors.
US deficits may not require big dollar drop - RBA
A new Reserve Bank of Australia discussion paper suggests that the real exchange rate adjustment required to address the US current account problems may not be as large as is often argued.
CBs to buy more gold - Rogoff
Kenneth Rogoff told delegates attending a precious metals conference in Johannesburg that he expects central bank gold sales to be reversed in time.
Venezuela transfers $20 bn reserves to BIS
Venezuela has transferred $20 billion worth of its reserves to the Bank for International Settlements in Switzerland, Venezuela's central bank director Domingo Maza Zavala was quoted as saying, confirming comments by President Hugo Chavez last week.
Financial de-dollarization: Is it for real?
De facto (unofficial) dollarization, defined as the holding by residents of assets and liabilities denominated in a foreign currency, is a policy concern in an increasing number of developing economies, according to this IMF Working Paper published on…
Canada's Dodge on financial system efficiency
In the speech 'Financial system efficiency: Getting the regulatory framework right' given on 22 September David Dodge of the Bank of Canada said that the inflation rate can be expected to rise in coming months, thanks largely to high energy costs, which…
China's forex regime poses fresh puzzle
An article published on Tuesday 13 September says China's new rules for its currency regime could mean the country may be forced to battle the nearly $2 trillion-a-day global forex market to try to control the dollar, euro and yen exchange rates.
Survey shows Chinese less keen on holding dollars
A survey published on Tuesday 13 September has shown that Chinese households have become more reluctant to hold dollar deposits since the yuan was revalued.
India's Reddy on monetary co-operation in Asia
In the speech 'Monetary co-operation in Asia' given on 3 September, YV Reddy of the RBI said the RBI is planning a new six-country trade-weighted real effective exchange rate (REER) index for the rupee which would include China's yuan and the Hong Kong…
Central banker says China won't revalue yuan again
People's Bank of China deputy governor Ma Delun said the country won't revalue the yuan again after scrapping its peg to the dollar and will buy and sell currencies to prevent "excessive" movements in the exchange rate.
Socialist Party calls for sacking of NBU chief
Ukraine's Socialist Party, which makes up one of three groups in the government coalition, called for the dismissal of National Bank of Ukraine governor Volodymyr Stelmakh on Tuesday 30 August, saying the strong currency is damaging the economy.
Nigeria in record forex sale
The Central Bank of Nigeria offered $500 million to banks in the foreign exchange market on 23 August, in its largest ever sale of foreign exchange.
Italian economy minister wants ECB rate cut
Italy's deputy economy minister Mario Baldassari said he favours the European Central Bank cutting its interest rates, as well as the euro being valued at parity with the dollar.
Shadow on the Euro
An article published this week notes that five months after central banks talked of increasing their euro reserves at the expense of the dollar, the speculation now is about how long the euro will last. With its credibility in danger the article asks…
Study says euro could be top reserve by 2022
A paper published this week says the euro could replace the dollar as the world's dominant reserve currency within 20 years if Britain and other EU countries adopted the unit and the US currency continues to slide.
HKMA's Pang on the Retail Bond Issue
In a speech given on 18 July Peter Pang of the Hong Kong Monetary Authority said the upcoming Retail Bond issue has both Hong Kong Dollar and US Dollar denominated notes. This is the first time that the HKMC issues US Dollar notes.
Pressure on Asia to shift reserves
Asian central banks may have to shift up to $500 billion in reserves from dollars to euros and yen or risk foregoing $28 billion a year in potential revenue, according to a report published by Goldman Sachs Group.