US bought 1.5 bn euros in Sept. 22 intervention

The US monetary authorities intervened in the foreign exchange markets on one occasion during the third quarter, on 22 September, buying a total of 1.5 bn euros, the Federal Reserve Bank of New York said today in its quarterly report to the US Congress.

According to the report, the dollar appreciated 8.2% against the euro and appreciated 2% against the Japanese yen during the three month period that ended 30 September 2000.

The intervention was carried out by the foreign exchange trading desk at

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Geoeconomic reserve management

The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.

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