Foreign Exchange

European funds to continue retreat from Asia
26 Jan 12
An almost desperate need to bolster their balance sheets will ensure European banks will continue to lose leverage in Hong Kong and the rest of...
Japanese banks fearful of sanctions on Iran
15 Jan 12
Japanese banks, already reeling from the country’s massive debt, fear international sanctions on Iran could deliver a “big blow...
Here comes the international renminbi
11 Jan 12
China has just implemented a pair of key steps geared at turning the renminbi or yuan into an international currency.
Japanese banks take IMF stress tests to counter future failure
9 Jan 12
Japan’s burgeoning debt, now equal to about twice the country's annual economic output, focuses sharp attention of the vulnerabilities...
People's Bank of China to create $300b investment vehicle
12 Dec 11
According to Reuters, the vehicle will target investments in the US and Europe.
DBS mulls adding staff by 10%
7 Dec 11
The lender aims to take advantage of yuan's rise to become major offshore trader of the currency.
Bank of China, Sumitomo to cooperate in yuan business
25 Nov 11
BoC and SMBC will cooperate on yuan-related business to accomodate increasing trade between China and Japan.
China and Hong Kong renew currency swap agreement
23 Nov 11
The People's Bank of China and the Hong Kong Monetary Authority have signed a renewed currency swap agreement for a term of another three...
Vietnamese bank willing to buy shipbuilder's dollar loan
17 Nov 11
A domestic bank in Vietnam is willing to buy back the debt of Vietnam Shipbuilding Industry Group at 35 percent of its face value, or $210...
Korea Finance raises US$750 M via debt sale
9 Nov 11
Korea Finance Corp. has raised US$750 million by floating dollar-denominated bonds.
Hong Kong’s forex reserves reach US$281 B in Oct.
7 Nov 11
Hong Kong’s foreign currency reserve assets reached 281.7 billion U.S.
Forex reserve growth of China slows down
17 Oct 11
Decreased growth said to show the depth of unease created by debt fears in Europe and the weak U.S.
Hong Kong hails new RMB rules
15 Oct 11
The promulgation of the Notice on Cross-border Renminbi Foreign Direct Investment by the Ministry of Commerce, and the Renminbi Foreign Direct...
Bankers urge Philippine central bank to further liberalize forex rules
11 Oct 11
BSP officials believe easing of rules on foreign exchange would help prevent the steep fall or rise of the peso.
Sri Lanka's ComBank offers transactions in Yuan
11 Oct 11
The Commercial Bank of Ceylon has enabled customers to transact in Chinese Yuan for import and export dealings with counterparts in the People...
ICBC Registers Over RMB 400 Billion in Turnover from Cross-Border Renminbi Business in H1 2011
5 Oct 11
ICBC saw a strong growth trajectory in its RMB business, with a turnover in the first half of 2011 trebled last year's to RMB 406 billion,...
Bank of China stops foreign exchange trade with some Euro banks
20 Sep 11
Bank of China has stopped foreign exchange forwards and swaps trading with several European banks due to the unfolding debt crisis in Europe....
Saxo Capital Markets introduces new offshore renminbi
15 Sep 11
Clients of the firm can now trade the offshore Chinese Renminbi against the US Dollar.
Indonesia to oblige forex savings in local banks
13 Sep 11
Bank Indonesia will issue a regulation obliging the savings of foreign exchange from exports and foreign loans in doemstic banks, according to...
HK Monetary Authority rejects pegging HKD to CNY
17 Aug 11
HKMA head said the HK dollar would lose its advantages if it is pegged to the Mainland’s currency.
Bangkok Bank boosts Thai-China trade with new CNY services
10 Aug 11
Bangkok Bank launched a range of China Yuan  transaction services to help serve the expansion of trade and investment between Thailand and...
South Korea to check foreign currency liquidity of banks
10 Aug 11
South Korea will conduct daily checks on local banks' foreign currency levels to stave off a liquidity crunch amid rising market volatility...
CIMB expects Matta tie-up to boost currency business up to 45%
4 Aug 11
CIMB Bank expects a 40-45 % growth in turnover from its currency exchange business this year after a tie-up with the Malaysian Association of...
China bars local companies from direct overseas CNY borrowing
4 Aug 11
Seeking funding overseas has lower costs compared with local loan rates but seen affect the domestic renminbi loan market.
China, Kazakhstan to open special accounts on currency swap
26 Jul 11
The central banks of Kazakhstan and China have agreed to open special accounts under an agreement on yuan/tenge swap.
Vietnam to get tough on banks' foreign currency violations
12 Jul 11
Banks in Vietnam will face a fine of up to VND100 million if they buy or sell foreign currencies at unofficial rates or impose illegal...
Sai Gon Bank pays 0.3% higher for dollars
6 Jul 11
Sai Gon commercial Bank launched a preferential program to purchase dollars at 0.1-0.3% higher than listed prices.
HSBC Indonesia sees increased renminbi utilization
2 Jul 11
A senior official at Indonesian branch of HSBC said on Thursday that Chinese currency Renminbi would be one of three primary currencies, besides...
Sri Lanka banks can now transact with renminbi
2 Jul 11
Sri Lanka's Monetary Board will include the China's yuan among designated currencies permitted for international transactions through...
Tin Nghia Bank ready to offer forex services
22 May 11
Tin Nghia Bank has been allowed by the State Bank of Vietnam to provide foreign exchange services.
PBoC governor: China needs to reduce FX reserves
20 Apr 11
PBoC governor Zhou Xiaochuan said China’s FX exceeded US$3tn at end March, way above necessary levels.
KEB offers wide range of services for expatriates
14 Apr 11
The lender boasts of its Easy-one Foreign Exchange Transaction Service that aims to eliminate as many banking inconveniences.
Russian bank considers yuan-denominated bond issuance in Hong Kong
13 Apr 11
A Russian bank is considering its first issuance of yuan-denominated bonds in Hong Kong.
ICBC conducts RMB option trading with BOC
13 Apr 11
ICBC carried out numerous RMB-foreign currency option trading with Bank of China on the inter-bank foreign exchange market.
CIMB optimistic currency exchange unit to grow to $496mn
13 Apr 11
Month-on-month transaction growth of 11% has been achieved by the bank since it introduced foreign currency dispenser machines.
China mulls Singapore as new renminbi trading centre
11 Apr 11
China eager “to push 'Asianization' of the renminbi” as analysts believe it is in its interest to establish more offshore...
BOC cross-border RMB settlement exceeds $24B
23 Mar 11
BOC's domestic branches' transaction volume exceeded RMB 160 billion or US$24 billion in 2010.
OCBC sees robust growth for dual currency investment in Malaysia
23 Mar 11
DCI benefits those who conduct business transactions in the alternate currency, especially those in import-export businesses.
ICBC's cross-border yuan settlement exceeds $22.83B
1 Mar 11
ICBC handled more than US$22.83 billion or 150 billion yuan of cross-border trade settled in its own currency in January.
High dollar price “feeding up” Vietnam banks
22 Feb 11
Businesses complain that the “dual foreign currency price mechanism” is still persisting.

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