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The New York Innovation Center bridges the worlds of finance, technology, and innovation and generates insights into high-value central bank-related opportunities.
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The New York Innovation Center bridges the worlds of finance, technology, and innovation and generates insights into high-value central bank-related opportunities.
The growing role of nonbank financial institutions, or NBFIs, in U.S. financial markets is a transformational trend with implications for monetary policy and financial stability.
The New York Fed offers the Central Banking Seminar and several specialized courses for central bankers and financial supervisors.
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The Economic Inequality & Equitable Growth hub is a collection of research, analysis and convenings to help better understand economic inequality.
The Governance & Culture Reform hub is designed to foster discussion about corporate governance and the reform of culture and behavior in the financial services industry.
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Press Release
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U.S. Monetary Authorities Did Not Intervene in FX Market during Third Quarter |
| November 6, 2003 | |
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NEW YORK – The U.S. monetary authorities did not intervene in the foreign exchange markets during the July - September quarter, the Federal Reserve Bank of New York said today in its quarterly report to the U.S. Congress. During the three months that ended September 30, 2003, the dollar depreciated 6.9 percent against the yen, 1.2 percent against the euro and 0.4 percent against the Canadian dollar. In this period, the dollar’s exchange value declined 2.3 percent on a trade-weighted basis as measured by the Federal Reserve’s major currencies index. The report was presented by Dino Kos, executive vice president of the New York Fed and the Federal Open Market Committee’s (FOMC) manager for the system open market account, on behalf of the Treasury and the Federal Reserve System. Full Report |
