US dollar
A higher yuan: When, not if
Sooner or later, China will have to hike its currency against the dollar, this article argues. The peg which keeps the yuan's value fixed against the greenback, has been the 'bete noire' of U.S. manufacturers, who complain that it gives Beijing an unfair…
How far must US dollar fall?
A new paper, entitled "How much depreciation of the US dollar for sustainability of the current accounts?" by Eiji Ogawa and Takeshi Kudo of Hitotsubashi University Research Unit considers various scenarios for the future path of the dollar.
Japanese experts comment on dollar prospects
Three Japanese experts gave their views on the dollar yen exchange rate and the prospect of central bank intervention at a panel discussion on December 17. The dollar has further to fall, they suggested, but Asian central banks will not liquidate their…
IMF's Rajan says US dollar fall is a wake-up call
International Monetary Fund research department director and economic counsellor Raghuram Rajan told the Australasian Finance and Banking Conference in Sydney that the depreciating US dollar is a wake-up call and urged policymakers to pay attention to…
China seeing gold-buying surge as dollar hedge
China is seeing a gold-buying surge as a hedge against the weakening dollar and negative real interest rates, the South China Morning Post reported, citing figures from the China Gold Society and analysts.
French PM concerned on dollar weakness
French Prime Minister Jean-Pierre Raffarin voiced concern about the euro's surge to record highs against the dollar, but didn't comment on whether he thought the European Central Bank should intervene.
Armenian president urges central bank to act
Armenian President Robert Kocharyan has called on the central bank to act "decisively and quickly" to prevent speculation in Armenia's financial market caused by fluctuations in the rate of the dollar against the national currency.
PBOC's Zhou says rigid ex rates pose 'huge risks'
Governor Zhou Xiaochuan of the People's Bank of China said the country's currency peg is a hazard for banks and companies, according to a published report.
PBOC deputy governor sees no RMB reform timetable
Regulators may let China's four biggest state banks become market makers in US dollar trading, clearing the way for less currency intervention by the central bank, a state-run newspaper reported on Monday 29 November.
Fukui says stronger yen may hold back recovery
Bank of Japan governor Toshihiko Fukui warned that the yen's recent surge against the dollar could hold back the nation's economic recovery.
Gonzalez-Paramo says ex rate volatility excessive
Jose Gonzalez-Paramo, a member of the European Central Bank's governing council, said the ECB sees the volatility of the euro/dollar exchange rate as "excessive" after the euro broke the psychologically important 1.3 dollar threshold.
HKMA's Yam says yuan likely fixed for long time
Joseph Yam, chief executive of the Hong Kong Monetary Authority, said in a speech that China is unlikely to relax controls that keep its currency tied closely to the US dollar until after it manages a soft landing for its overheated economy.
Cuba's new convertible currency introduced
The Cuban Convertible Peso, CUC, or "chavitos" as they have become known locally came into circulation on Monday 8 November, substituting the widely circulated US dollar, with the central bank saying the move would help the Cuban currency hold its value.
Trichet says euro's record rise 'not welcome'
Economic growth "remains very steady," European Central Bank President Jean-Claude Trichet said at a briefing after a meeting in Basel, Switzerland, of the G-10 group, which he chairs. "Perhaps we're going to a level that's more sustainable in the medium…
Interview: Ronald McKinnon
Much of the world is on a de facto dollar standard. Ronald McKinnon of Stanford University explains how it works and why policymakers need to understand it better.
Asian central banks see increasing role for euro
This article looks at the growing trend of Asian central banks shifting part of their assets into euros, though the US$ remains the major reserve currency, it says.
Berlusconi calls for ECB rate cut
Italian Prime Minister Silvio Berlusconi has called on the ECB to cut its interest rates, believing the euro to be over-valued against the dollar and complaining that it is hindering Italian exports by making them less competitive.
BOJ reports loss for first time in 32 years
The Bank of Japan reported a current loss of 22.2 billion yen ($200 million) for the year ended March 31, as the yen's 13-percent gain against the dollar caused losses on foreign currency-denominated assets and bond prices fell.
No big short-term dollar shift says ECB's Wellink
The dollar is unlikely to show any big swings on the foreign exchange market soon as rapid growth allows the U.S. to finance its current account gap, European Central Bank Governing Council member Nout Wellink said in an interview on Thursday 27 May.
Fed's Olson on the redesigned 2004 US $50 note
In a speech on 'Preview of the Redesigned Series 2004 U.S. $50 Note' given on 26 April, Mark Olson of the Federal Reserve said this $50 note is beautifully designed and includes important anti-counterfeiting features.
Snow tells PBOC governor to scrap peg
U.S. Treasury Secretary John Snow told People's Bank of China Governor Zhou Xiaochuan on Friday 26 March that China needs to scrap its dollar-pegged foreign exchange system and float the yuan.
RBNZ's Orr on exchange rate intervention proposal
In a speech on the Reserve Bank of New Zealand's exchange rate intervention proposal given on 25 March, Adrian Orr of the RBNZ said that what the RBNZ is recommending is intervening when the moment is justified and opportune, with the outcome of trimming…
Canada's Duguay on monetary policy, global economy
In a speech on 'National monetary policy in a global economy' given on 22 March, Pierre Duguay of the Bank of Canada discusses the positive contribution of the bank's inflation-control strategy to the Canadian economy and highlights the importance of…
Brash unimpressed with RBNZ's plans
Former RBNZ chief Don Brash said this week that while the high value of the New Zealand dollar was hurting the economy, any attempt to intervene would be fraught with risk.