US dollar
Inflation surprise lifts New Zealand dollar
New Zealand's benchmark interest rate is widely expected to be raised by a quarter of a percentage point to a record level of 8.25% next week, after a report published today revealed that inflation has risen faster than the Reserve Bank anticipated. The…
South African reserves approach $26 billion
The South African Reserve Bank has announced that net gold and foreign exchange reserves rose last month to $25.94bn from $28.28bn at the end of May. The central bank said gross reserves were up at $28.28bn from $27.85bn the previous month, and net…
Bank of Thailand intervenes to weaken baht
The Bank of Thailand, the country's central bank, announced on 5 June that it has intervened in the currency market in an attempt to slow down the rise of the baht, the national currency.
NZ lawmakers to review monetary policy framework
Lawmakers in New Zealand are set to consider new measures to widen the focus on monetary policy and provide the central bank with more policymaking tools.
Thailand governor cool on currency risks
Bank of Thailand governor Tarisa Watanagase says she dioes not expect another currency crisis like the one which hit the country ten years ago.
RBNZ may continue to sell its dollar - deputy gov
Grant Spencer, deputy governor of the Reserve Bank of New Zealand said on 27 June that the central bank may continue selling its domestic currency, now trading at its highest level in more than two decades.
Bank of Israel leaves rates unchanged
The governor of the Bank of Israel, Stanley Fischer, announced on 25 June that the monetary rate for July 2007 will remain unchanged at 3.5%.
The continuing rise of the kiwi
The New Zealand dollar continues its rapid rise on perceptions that the central bank will be unable to stem a rally powered by Japanese investors looking for higher yields. The currency rose to its highest level in 22 years on 25 June.
RBNZ intervenes in currency market again - traders
Foreign currency traders say that the Reserve Bank of New Zealand again intervened in the market on 18 June. This follows a statement by the central bank last week acknowledging that it had done so for the first time since it set up a fund for…
No policy shift for currency, says UAE governor
Investors expecting the dollar-pegged dirhan to appreciate received a strong message yesterday from the governor of the United Arab Emirates central bank, Sultan Nasser Al Suwedi, who said "We rule out any change for the forseeable future".
South Africa's reserves surge in one month
New data from the South African Reserve Bank has revealed that net gold and foreign exchange reserves rose to $25.48bn in May from $24.59bn the previous month. Gross reserves were also up to $27.85bn from $27,02bn.
NZ interest rate up to record 8%
The markets were taken by surprise on 7 June when the New Zealand central bank raised its key interest rate to a record 8% from 7.75%, in efforts to stem inflation.
ECB lifts rates to 4%
The European Central Bank has raised its key interest rates by 25 basis points to 4%, taking rates in the eurozone to their highest level for six years. This latest increase means that interest rates have doubled in 18 months.
Syria to abandon dollar peg in July
The governor of Syria's central bank, Adib Mayelah, announced that the country will abandon the Syrian pound 's peg to the dollar in an effort to stem rising costs and inflation.
Israeli rates cut again
The Bank of Israel has cut interest rates by 25 basis points to 3.5%. The decision, announced on 28 May, comes as inflation remains below the central bank's 1 to 3% inflation target.
Why is the dollar so high?'
In this paper, Martin Feldstein, once considered a frontrunner to replace Alan Greenspan as chairman of the US Federal Reserve, argues that a decline of the real value of the dollar that is large enough to reduce the current account deficit significantly…
Uncertainty surrounds Gulf monetary union
In the last week Kuwait and Oman have opted expand the range of currencies they peg their exchange rates to. These developments cast doubts over the gulf region's ability to meet its 2010 deadline for a monetary union.
China hikes rates, loosens currency markets
The People's Bank of China raised interest rates for the fourth time in a year on 18 May and widened the yuan's daily trading limit against the dollar.
Kuwait removes dinar's dollar peg
The central bank of Kuwait de-linked its currency, the dinar, from the depreciating dollar on 20 May and opted for an exchange rate mechanism tied to a basket of other currencies.
New York Fed's Foreign Exchange Operations Report
According to the Federal Reserve Bank of New York's Treasury and Federal Reserve Foreign Exchange Operations quarterly report for January-March 2007, published 3 May, the U.S. monetary authorities did not intervene in the foreign exchange markets during…
Canada's Dodge on exchange rate regimes
In the speech 'The importance of appropriate exchange rate regimes' given on 4 May David Dodge of the Bank of Canada said the Canadian dollar's rise in recent years has helped Canada maintain stable growth and inflation as commodity prices rose sharply.
Dodge on Canada and free trade
In his opening statement to the House of Commons Standing Committee given on 1 May David Dodge of the Bank of Canada made similar comments to those of Ben Bernanke the same day, saying if the United States resorts to protectionist measures against major…
Trichet on the euro and the dollar
In closing remarks at 'The euro and the dollar: pillars in global finance' conference given on 17 April Jean-Claude Trichet of the ECB said a number of indicators point to increasing cross-border banking activities in the euro area, such as the growing…
Dallas Fed's Fisher on fiscal issues
In the speech 'Fiscal issues: From here to eternity' given on 16 April Richard Fisher of the Federal Reserve Bank of Dallas said if US fiscal policy gets 'out of whack' it will have implications for the Federal Reserve's policy and the dollar.