News/Reserves
New details on National Bank of Ukraine scandal
UKRAINE - New details have been provided on the charges of financial impropriety against the former deputy chairman of the National Bank of Ukraine, Volodymyr Bondar.
Lithuania cbank approves 2000 financial statements
LITHUANIA - At its board meeting on Mar 29, 2001, the Bank of Lithuania approved its financial statements for 2000, reporting profits for the year of LTL 126.2 million.
S.Africa govt says gradual reduction of NOFP best
SOUTH AFRICA - South Africa's Treasury said on Mar 28, 2001 it was committed to steadily reducing its uncovered forward foreign exchange exposure and would not borrow massively abroad to do so.
Thai PM goes easy on ex-central bankers
THAILAND - It is premature to blame two former central bank governors for costing the state 44 billion baht in the failed attempt to defend the baht in 1996-97, Thailand's prime minister said on Mar 26, 2001.
Iceland c.bank intervenes to help falling crown
ICELAND - Iceland's central bank intervened on the local foreign exchange market on Mar 26, 2001 for the second straight session to support the falling Icelandic crown, but with limited success.
SNB announces next tranche of gold sales
The Swiss National Bank is to sell 100 tonnes of gold by September
Thailand cbank stops offshore investment fund
The Bank of Thailand has halted the launch of a new fund to help Thai investors invest abroad because of fears that it might encourage capital outflows and destabilise the exchange rate
Propping up the rupiah was 'right move'-deputy gov
Bank Indonesia has made the right move in propping up the rupiah, BI Deputy Governor Miranda S Goeltom said on Mar 22, 2001.
UKRAINE: Former deputy central bank chief detained
Reserves scandal claims former deputy governor
Thailand, Japan close to currency swap deal-paper
Thailand and Japan are close to concluding a bilateral currency swap agreement in the next few months as part of a regional arrangement to support Asian currencies in crisis, the Nation newspaper said on Mar 13, 2001.
MAS liberalises SGD swap rules for offshore banks
Following its recent decision to liberalise trading in Singapore dollar swaps, the Monetary Authority of Singapore said Mar 13, 2001 that effective March 1 it has allowed offshore banks to enter into currency swaps of any amount with non-banks.
Indonesian rupiah breaches 11,000 as worries grow
The Indonesian rupiah slid past 11,000 per dollar on Mar 12, 2001, extending early losses after the central bank said it had limited ability to defend the currency.
BoF Fogelholm to head Finnish Bankers' Association
The Finnish Bankers' Association said on Mar 12, 2001 that Markus Fogelholm would replace retiring chief executive Matti Sipila in Sept 2001.
Korea foreign currency transactions surged in 2000
Foreign exchange transactions by domestic financial institutions, including spot and futures markets, increased sharply in 2000 to $8.9 billion a day, up from $6.9 billion in 1999, the Bank of Korea said on Mar 11, 2001.
Norway government petroleum fund 2000 return 2.5%
Norway's government petroleum fund had a return on capital last year of 2.5%, when measured in terms of a currency basket that corresponds with the Fund's benchmark portfolio, the Norwegian central bank reported on Mar 9.
Asian currency swap idea 'acceptable'-Manila c.bnk
The Philippines is basically happy with the concept of an Asian web of currency swaps aimed at fending off future financial crises and is forging ahead with discussions on terms, deputy central bank governor Amando Tetangco said on Mar 9, 2001.
Finnish cbank transfers 129m euros to govt
The Bank of Finland has transferred 42% of its 309m euros profit to the government, the first time the bank has had to pay money to the state since 1984.
No plan to drive yen lower, Hayami says
Bank of Japan Governor Masaru Hayami said on Mar 8, 2001 he was alert to the risk of a vicious deflationary cycle but firmly denied that he wanted to push the yen lower to induce inflation.
Hungary Jarai-wider euro/forint band in 12-18 mos
The Hungarian forint's trading band could be widened in 12 to 18 months, recently appointed central bank governor Zsigmond Jarai told business daily Vilaggazdasag in an interview published Mar 8, 2001.
Russia cbank says too soon to ease forex sale rule
Russian Central Bank Chairman Viktor Gerashchenko said in an interview published on Mar 7, 2001 that it was too early to reduce the percentage of foreign currency receipts that Russian exporters are required to sell in exchange for roubles.
Japan foreign reserves fall in Feb on weak euro
Japan's foreign reserves, the largest in the world, fell in Feb 2001 for the first time in six months, hit in part by a decline in the euro, a Finance Ministry (MOF) official said on Mar 7.
Dollar-Korean won spot rates swayed by forwards
The dollar's movement against the won in the Seoul currency market is being increasingly affected by dollar-won trading on overseas non-deliverable forward (NDF) markets, the Bank of Korea said.
BI vows to prevent rupiah breaking 10000 level
Bank Indonesia will take action to protect the rupiah from breaking through the Rp 10,000 level against the U.S. dollar, the central bank's governor Sjahril Sabirin said on Mar 6.
Canada gold sale said part of established program
Canada's sale of 20,000 ounces of gold in Feb 2001 was made as part of an established program to sell all of the precious metal held by the central bank, a finance ministry official said on Mar 5, 2001.