During the last few years trade settled through ACU mechanism has grown at a rate higher than that of total international trade of the member countries. Yet another forum for exchange of views and experiences, including through visits and training programmes, is SAARCFINANCE. Areas covered in recent months include communication policies and practices of Central Banks and Real Time Gross Settlement systems.
The recent policy shift in China from a pegged to a flexible exchange rate regime is a significant development in international finance. This step is a watershed in the financial sector reform process now underway in China.