Financial Regulatory Forum

China’s forex reserves are ‘diversified,’ – central bank chief

July 17, 2009

By Zhou Xin and Simon Rabinovitch
BEIJING, July 17 (Reuters) – China’s $2 trillion stockpile of foreign exchange reserves, the world’s largest, is diversified despite the vast amount held in U.S. Treasuries, the Chinese central bank chief said on Friday.
Zhou Xiaochuan’s apparent satisfaction with China’s current dollar-heavy investment portfolio contrasted with calls he has made this year for a new super-sovereign currency to end the greenback’s dominance. (more…)

G8: world economy may need more help, leaders mute currency debate

July 8, 2009

France's President Nicolas Sarkozy (L), U.S. President Barack Obama   By Darren Ennis and Krittivas Mukherjee
   L’AQUILA, Italy, July 8 (Reuters) – G8 leaders believe the world economy still faces “significant risks” and may need further help, according to summit draft documents that also reflect failure to agree climate change goals for 2050. (more…)

Russia, China to push global currency at G8 summit

July 7, 2009

China's President Hu Jintao    By Stephen Brown
   ROME, July 7 (Reuters) – China, Russia and Brazil will use this week’s G8 summit in Italy to push their view that the world needs to think about a new global reserve currency as an alternative to the dollar, officials said on Tuesday. (more…)

China asks G8 debate on reserve currency – sources

July 1, 2009

(This story is without a dateline to protect the identities of the sources) 

Flags of G8 nations.    (Reuters) – China has asked to debate proposals for a new global reserve currency at next week’s Group of Eight summit in Italy and the issue could be referred to briefly in the summit statement, G8 sources said on Wednesday.   (more…)

Vietnam bans fees in dollar transactions

July 1, 2009

   HANOI, July 1 (Reuters) – Vietnam’s central bank on Wednesday banned all banks from charging fees and commissions on dollar/dong transactions, as part of efforts to curb dollar sales outside the trading band.