US dollar
China yuan move should be 10% - ex-HKMA's Latter
China would need to revalue its currency by at least 10 % in order for such a move to be credible to the markets, according to Tony Latter, former deputy chief executive of the Hong Kong Monetary Authority.
The U.S. current account and the dollar
The dollar has further to fall, according to a recent paper by Professors Blanchard, Giavazzi and Sa of MIT, and an end to the Chinese peg might - contrary to conventional thinking - be bad for Europe, they argue.
India discussing foreign reserve diversification
Reserve Bank of India governor Yaga Venugopal Reddy told reporters on Friday that diversification of the central bank's reserves was being discussed.
BIS Quarterly Review, March 2005
The Bank for International Settlements published its March 2005 Quarterly Review on Monday 7 March. In the report the BIS said that Asian banks have reduced the share of deposits held in US dollars in favour of other currencies like the euro.
Ex-Fed's Wyss says Asia should diversify reserves
Asian central banks need to diversify their foreign reserves but in doing so, they should allow the local currencies to appreciate against the dollar, a former US presidential economic adviser and Federal Reserve governor said on Thursday 3 March.
China spends US$195b maintaining yuan peg
The People's Bank of China spent 1.61 trillion yuan (US$195 billion) buying foreign currency last year to maintain the yuan's peg with the dollar, a rise of 40 per cent over 2003.
20 years of a floating New Zealand dollar
The Reserve Bank of New Zealand noted on Wednesday 2 March that this week marks the 20-year anniversary of the float of the New Zealand dollar. The bank said that the floating exchange rate regime has weathered several business cycles and plenty of …
Report says China peg impact overstated
Research published by the Federal Reserve Bank of Cleveland on Thursday 24 February said that China's exchange rate peg to the dollar has had less of an impact on its trade surplus with the United States than many observers have assumed.
Interview with Bank of Canada's Tiff Macklem
In an interview published this week, Bank of Canada Deputy Governor Tiff Macklem said Canada's economy may take two or three years to adjust to a currency that rose more than 20 per cent since early 2003 and "there is probably some more adjustment to go".
PBOC's Zhou says China open to yuan discussion
People's Bank of China governor Zhou Xiaochuan was reported as saying that China is open to discussing the yuan exchange rate at the upcoming G7 finance ministers meeting but will not be pressured on any appreciation.
Central bankers shift funds from US to eurozone
Central banks are reducing their holdings of dollars in favour of the euro, according to a survey of 65 central banks published on Monday 24 January by Central Banking Publications.
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.