Reserves
BIS for ex head says gold lending is well ordered
EUROPE - Giacomo Panizzutti, head of foreign exchange at BIS, told The Alchemist quarterly this week that gold lending by the 15 European central bank signatories of a 1999 Washington accord "was 2,119.32 tonnes and, in accordance with the agreement, has…
Chile cen bank intervenes to prop up peso
CHILE - The Chilean Central Bank intervened in the currency market today, 31 August, selling millions of dollars to defend the peso for the second time this week, traders said.
World Bank to borrow gold
UK - The World Bank is set to issue its first gold bond, according to informed sources in London. The bond is aimed to attract investment from central banks, notably in emerging markets. The agents are Goldman Sachs/J. Aron, the big US investment bank (J…
High-value euro notes spark concern
FRANCE - Carrefour, the large French-based retail group, yesterday urged only small-scale distribution of high-denomination euro notes in the first months after the January 1 changeover to euro notes and coins, claiming the move would minimise confusion…
Unrestricted foreign currency in Egypt
EGYPT - According to Al-Bayan newspaper (August 22, 2001), the Egyptian Central Bank recently instructed all commercial banks in Egypt to provide any foreign currency sum required by local customers.
Pakistan forex reserves up $30 mln to $3.289 bln
PAKISTAN - Pakistan's central bank said on 23 August total liquid foreign exchange reserves were $3.289 billion as of 18 August, up by some 30 million dollars from the previous week's $3.259 billion.
Dutch central bank sold gold last week
NETHERLANDS - Data from the Dutch central bank on 21 August showed it sold gold for 39 million euros ($35.65 million) last week as part of its programme to sell 200 tonnes through 2004.
BSP eases ruling on bearer checks
PHILIPPINES - Banks may now resume issuing pay-to-cash checks after the Bangko Sentral ng Pilipinas (BSP) reversed its earlier decision to ban so-called "bearer checks".
IMF says cash to reserves, Argentina decides use
ARGENTINA - The International Monetary Fund reiterated on 22 August that the money Argentina will receive under its new $8 billion program will go to central bank reserves, but it is then up to the country to decide how to use it.
India to showcase dazzling Nizam jewels at last
INDIA - India's most dazzling array of jewellery goes on display for the first time next week amid hefty security for a collection which could be worth more than US $2 billion. The collection has been housed in the vault of India's central bank for years.
Croatian cen bank offers euros at 7.50 kuna
CROATIA - The Croatian central bank said on 21 August it would sell an unspecified amount of euros at 7.50 kuna ($0.907) - its second intervention this month to aid the kuna and a first sale of currency at a fixed exchange rate.
Regulator denies responsible for bank intervention
NICARAGUA - Nicaragua's banking regulator Noel Sacasa has denied responsibility for the multimillion dollar costs of intervening and liquidating six banks during his term a report says.
Sri Lanka c bank relaxes For Ex curbs
SRI LANKA - Sri Lanka's Central Bank announced 20 August the relaxation of several restrictions on foreign exchange transactions through commercial banks imposed in January, the official Daily News reported on 21 August.
Sharp rise in Indian forex reserves by US $326 bn
INDIA - The country's forex reserves have registered a sharp rise of $326 million to touch $44.135 billion for the week ended August 10, as against $43.809 billion in the previous week.
KDB to operate central bank's loan to SMEs
SOUTH KOREA - The state-run Korea Development Bank (KDB) will soon be subject to the central bank's ceiling on loans to small-and medium-sized enterprises (SMBs).
Yugoslav c bank gov says for ex reserves growing
YUGOSLOVIA - Yugoslav National Bank (NBJ) Governor Mladjan Dinkic has said a new banknote was expected by the end of September this year - of 1,000 dinars.
Thai MPC to evaluate c bank market actions
THAILAND - Thai central bank Deputy Governor Pakorn Malakul Na Ayudhya said 21 August that when the Monetary Policy Committee meets Aug. 29, it will look into risk management and standards for Bank of Thailand's activity in the foreign exchange, bond and…
S.Lanka central bank allows import prepayment
SRI LANKA - The Central Bank of Sri Lanka on 20 August lifted restrictions on the prepayment of import bills introduced earlier this year to stabilise the foreign exchange market.
Govt and bank move to cut deadlock in Romania
ROMANIA - The Adrian Nastase Cabinet approved in a 16 August sitting a programme of action in conjunction with Romania's central bank BNR to diminish the financial deadlock.
India RBI says dividend to govt at 93.5 bln rupees
INDIA - The Reserve Bank of India (RBI) said on 17 August it has decided to transfer a dividend of 93.50 billion rupees to the federal government out of its surplus profit.
Chicago Fed's new internet banking web page
CHICAGO - The Federal Reserve Bank of Chicago has added a new Internet Banking Supervisory Resources section to its web site www.chicagofed.org.
Taiwan c bank may up euro weight in forex reserves
TAIWAN - Taiwan's central bank may raise the weighting of the euro in its foreign exchange reserves in the wake of possible strengthening in the euro and higher interest rates, Commercial Times reports.
Dutch Kusters engineering granted India contract
INDIA - Dutch company Kusters Engineering, a manufacturer of machines for the destruction of banknotes, has been granted a 25 mln Dutch guilders ($10.2 mln/11.3 mln euro) contract by the Central Bank of India.
Central Bank to increase bond purchases by 50%
JAPAN - The Bank of Japan announced today it will increase bond purchases by 50%, adding 1 trillion yen (8.1 billion dollars) to the banking system.