Reserves

Speech by Susan Schmidt Bies of the Fed, 28 Feb

SPEECH - In the speech titled 'Strengthening the Financial System of the 21st Century through Sound Accounting and Disclosure' Bies said "It has become clear in recent months that some companies have not been completely transparent in their application…

Argentine deal set to speed budget approval

ARGENTINA - Argentina's Congress was finally due to start discussing this year's budget yesterday, after the government reached a funding agreement with provincial governors on Wednesday night. That deal should mean rapid approval of the budget and could…

Argentina debates crisis budget

ARGENTINA - Argentine leaders are on Thursday expected to debate an austerity budget aimed at finding a way out of the country's economic crisis.

India's gold jewellery rip-off

FEATURE - Most gold jewellery advertised in India as 22-carat is of a lesser quality, a survey by the Bureau of Indian Standards (BIS) has revealed.

Gold loses its shine as banks sell, costs fall

AUSTRALIA - A third of the gold ever mined, or 30,000 tonnes, is stored in central banks around the world. The banks want to lower their reserves in favour of higher yielding investments such as bonds and currency.

India's Jalan- High FX reserves hedge uncertainty

INDIA - India's growing foreign exchange reserves - at record high levels and expected to touch $50 billion by the end of the fiscal year 31 March - "take into account every uncertainty," Reserve Bank of India Governor Bimal Jalan said Friday.

Currency dealing liberalised in China

CHINA - The central bank has eased controls on foreign-exchange dealing by domestic banks to put them on an equal footing with foreign competitors, it was reported.

IMF urged to help Argentina

ARGENTINA - The South American trade bloc, Mercosur, has appealed to international lenders to do more to help Argentina as it draws up a plan to rescue the economy.

Debt relief urged for poorest seven countries

UK - Aid donor countries are to meet in London later this week to consider possible new financial support - including foreign debt relief - for the seven poorest countries of the former Soviet Union.

Central bank intervention and foreign ex rates

RESEARCH - Michel Beine, Agnes Benassy-Quere, Christelle Lecourt, Central bank intervention and foreign exchange rates: new evidence from FIGARCH estimations from the Journal Of International Money And Finance, Volume 21, Issue 1, 01-February-2002.

Venezuela c bank to start dollar auctions Monday

VENEZUELA - The Venezuelan Central Bank will start Monday with a daily auction of U.S. dollars to the currency market to guarantee supplies of dollars while the bolivar adapts to a new free-floating exchange system.

Watch the Fed for clues to rise in gold sector

FEATURE - Gold has broken out and there is no shortage of theories as to why and where it's going from here. But, according to Chad Williams, investors should pay no attention to outlooks based on supply and demand, hedging, central bank sales or even…

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