Foreign Exchange
Singapore, Japan renew bilateral swap arrangement
Singapore can swap up to $3b whilst Japan can swap up to US$1b.
Singapore, Japan renew bilateral swap arrangement
Singapore can swap up to $3b whilst Japan can swap up to US$1b.
China, Thailand ink MOU to enhance local currency use
They will also promote cross-border payment and settlement.
Deutsche Bank appointed by Euroclear as cash settlement and forex bank in Korea
It involves bond activities for Korea Treasury Bonds and Monetary Stabilization Bonds.
PH central bank revokes license of local money changer
Money changer NIKKO reportedly committed “serious violations” of money laundering laws.
Philippine central bank simplifies FX policy for foreign investment registration
Foreign investments can now be registered upon registering at any authorized agent bank.
Philippine central bank denies issuing directive re “stamped” US dollar notes
It reminded the public to remain vigilant against bogus information.
MAS investigating Samlit for allegedly failing to remit money to China
The money changer is suspected of failing to comply with obligations as a licensed payment service provider.
Philippine remittances up 2.9% to $3b in November: central bank
Cumulative personal remittances grew to $33.6b in the first 11 months of 2023.
HSBC HK unveils debit, supplementary card waiving foreign currency fees
The cards also offer a 0.5% instant cash rebate on all spendings.
Philippine court convicts owner of unregistered money exchange business
The owner and operator of Globexmc can no longer own and operate an MSB.
China allegedly asks banks to delay dollar buying to slow yuan depreciation: report
The yuan hit an eight-month low in July.
South Korea to let overseas firms enter its FX market: report
Authorities target its implementation by Q4.
South Korea daily FX turnover hit all-time high in Q1
Increased demand for cross-border transactions of securities drove the growth.
Weekly Global News Wrap: Klarna, Block execs calls UK’s planned BNPL regulations “outdated”; Citi’s global FX head to leave
And fintech Boost looks to raise $50m to $100m in possible new funding round.
Citi announces leadership appointments in Asia Pacific Markets business
The new heads will be based in Singapore and Hong Kong.
Korean banks’ in solid position to weather strong US dollar
Expectation of strong government support and solid foreign currency liquidity will support banks.
Deutsche Bank appoints Ruchir Sharma as co-head of Global Foreign Exchange
He will work with Darren Boulus.
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