Safe proposes forex management agency
NEWS
Online magazine, the Economic Observer, reported that the State Administration of Foreign Exchange (Safe) would head the agency to be called the International Reserves Centre. The move would echo that of Singapore, which established an agency in 1981 to manage the state's reserves.
"A lot of countries want to move in this direction, and countries like Korea have already talked about setting up an agency," said James Malcolm, an FX Strategist at Deutsche Bank in Singapore.
Chi-Chi Zhang
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