SOUTH AFRICA BARS FINANCIAL TRADING AS UNREST GOES ON

A leading anti-apartheid activist, the Rev. Allan Boesak, was detained by the South African authorities yesterday, a day before he was to lead protesters to the prison to demand the release of the jailed black nationalist Nelson Mandela. Dr. Boesak was seized by plainclothes policemen and was told that he was being detained under the Internal Security Act. In Washington, the United States formally protested Dr. Boesak's arrest. [Page A4.] 'Abnormal Pressure' Cited ''These steps have been taken so that South Africa can continue to meet all international obligations,'' South Africa's Finance Minister, Barend du Plessis, said in announcing the suspension of trading. His statement was made late in the evening in Pretoria, the country's administrative capital, long after markets there had closed and as the currency trading rooms in New York were emptying in the late afternoon. Such moves ''accelerate the problems,'' the banker said. ''They don't create an environment conducive to foreign investment. They create an environment of getting out before they put even more controls on.'' Capital flight ''is the highest it has been since the beginning of apartheid,'' said Benjamin Weiner, president of Probe International, a research firm in Stamford, Conn., that provides political and economic information to multinational corporations. ''It's currently between $2 billion and $3 billion a year, probably closer to $2 billion,'' he said.

Full text: New York Times, Aug 28, 1985

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Dollar's Slide Halted - U.S., Japan Reportedly Intervene

Officials at the Federal Reserve Bank of New York, which handles currency trading, and the Treasury Department would neither confirm nor deny intervention. But currency traders with knowledge of the Fed's activities said it was aggressively selling yen and buying dollars. As for the size of the Fed's intervention, most traders said it was not terribly significant, but Masakazu Miyamori, the chief currency trader at the Sanwa Bank in New York, said the Fed had sold huge amounts of yen to buy dollars for its own account.

Full text: San Francisco Chronicle (pre-1997 Fulltext), Mar 25, 1987

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Bankers Trust Currency Trader Quits After Helping Division Post Record Gains

Bankers Trust Co. said Andrew Kreiger, a top currency trader and big contributor to its record fourth-quarter foreign exchange earnings, resigned. His resignation raises questions whether Bankers Trust can maintain its winning streak in the currency market. In 1987's fourth quarter alone, Bankers Trust earned $337.7 million from its currency trading before taxes and expenses -- making foreign exchange the bank's most lucrative area. Mr. Kreiger couldn't be reached for comment, and Bankers Trust denied that Mr. Kreiger left over a compensation dispute. His pay last year was significantly more than what bank Chairman Charles Sanford earned.

Full text: Wall Street Journal, Feb 25, 1988

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