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forexchief

Asian central banks intervened forex market to control revaluation of local currency

Discussion in 'Diskusi Forex' started by ikonfx, Jan 4, 2011.

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  1. ikonfx

    ikonfx Banned

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    Facing the threat of growing capital inflows, more and more Asian central banks have intervened in forex markets and strengthened capital controls.

    Lum Choong Kuan, head of fixed-income research at CIMB Group in Kuala Lumpur, said central banks in emerging markets were considering tightening monetary policy in 2011, while increasing interest-rate differentials between emerging markets and the developed economies of the US, Europe and Japan would lead Asia's central banks try to control capital inflows that were in pursuit of higher returns.

    Similarly, South Korea's currency traders doubt the Bank of Korea bought more than 500 million U.S. dollars at 1135-1140 several times to stabilize the exchange rate, and the increase of the won-dollar exchange rate is up 2.6% since 2010.
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