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High foreign exchange reserves have, in the current global recession, saved Asian countries (including India) from the travails they suffered in the Asian financial crisis of 1997-2000. So, they must aim for rising forex reserves in future too, right? Wrong.By us.rd.yahoo.com

Companies are trying to clean up their balance-sheets and make provisions for forex losses as they think the disclosures will not have a major bearing on their valuations, which are already down.By us.rd.yahoo.com

OSLO, Feb 9 (Reuters) – Norway’s central bank hs cancelled a forex swap auction due on Feb. 9, 2009, it said on its page. (Reporting by Wojciech Moskwa) Keywords: NORWAY LIQUIDITYBy us.rd.yahoo.com

* Dollar, yen up on uncertainty ahead of U.S. bank planBy us.rd.yahoo.com

Despite the risk for intervention by the Swiss National Bank, the EURCHF has held within a broad range during the last two months of trading, and expectations for a rate cut by the European Central Bank favors a bearish forecast for the pair.By us.rd.yahoo.com