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The Cen­tral Bank is reaf­firm­ing its com­mit­ment to im­prov­ing ef­fi­cien­cy and trans­paren­cy in the for­eign ex­change mar­ket, even as per­sis­tent de­mand-sup­ply im­bal­ances con­tin­ue to chal­lenge the sys­tem.

Cen­tral Bank Gov­er­nor Lar­ry Howai dis­closed that for­eign ex­change re­serves closed Oc­to­ber at US$4.62 bil­lion, on­ly mar­gin­al­ly low­er than Ju­ly’s fig­ure of US$4.65 bil­lion, de­spite con­tin­ued mar­ket sup­port av­er­ag­ing US$100 mil­lion per month.

He not­ed that bi-week­ly in­ter­ven­tions re­main a source of as­sur­ance for mar­ket par­tic­i­pants, but em­pha­sised that the bank’s fo­cus is shift­ing to­ward build­ing sus­tain­able so­lu­tions as its ca­pac­i­ty to pro­vide sup­port is grad­u­al­ly di­min­ish­ing.