Foreign Exchange
China mulls Singapore as new renminbi trading centre
China eager “to push 'Asianization' of the renminbi” as analysts believe it is in its interest to establish more offshore renminbi hubs.
China mulls Singapore as new renminbi trading centre
China eager “to push 'Asianization' of the renminbi” as analysts believe it is in its interest to establish more offshore renminbi hubs.
BOC cross-border RMB settlement exceeds $24B
BOC's domestic branches' transaction volume exceeded RMB 160 billion or US$24 billion in 2010. This is an increase of over 100 times than that of...
OCBC sees robust growth for dual currency investment in Malaysia
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
ICBC handled more than US$22.83 billion or 150 billion yuan of cross-border trade settled in its own currency in January. This is according to a...
High dollar price “feeding up” Vietnam banks
Businesses complain that the “dual foreign currency price mechanism” is still persisting.
BoC opens yuan repurchase facility in Hong Kong
Bank of China is opening a yuan repurchase facility in Hong Kong that will boost the Chinese currency's business in the territory.
HCM City probes forex practices among banks
The HCM City People's Committee has set up a team to investigate if banks have been selling US dollars at above the official selling rate by charging...
HSBC launches renminbi deposit accounts in Singapore
HSBC said it has launched renminbi deposit accounts for its customers in Singapore, making it one of the banks offering such services in Singapore.
Vietnam banks demand ‘fees’ to sell dollars
Vietnam's banks are selling dollars to businesses at a premium on the official rate by adding “consulting” fees. The State Bank of Vietnam Monday set...
DBS Bank downgrades dong's outlook
DBS bank downgraded its forecast for the dong and expects the currency to decline by another 3.75 per cent against the U.S. dollar.
Vietnam banks raise dollar rates to attract remittance
Vietnam Banks’ depositing interest rate are moving up to attract strong remittance inflows that come in ahead of Tet, the Lunar New Year festival...
Cambodian bank stops Vietnamese taking ATM dollars
A bank in Cambodia has stopped certain Vietnamese from getting dollars from its ATMs after a surge in withdrawals. Apparently traders are taking...
Issues raised by the SPC’s recent judicial interpretation on FIE Disputes
On August 5, 2010, the Supreme People’s Court of the People’s Republic of China issued the Provision on Several Issues on the Trial of Disputes...
Businesses in the Asia-Pacific Region are recovering from the shocks to the Global Economy
The latest ICAEW Global Enterprise Survey suggests businesses in the Asia-Pacific region are recovering from the shocks to the global economy.
Siam Commercial pushes SME forex hedging
Lender attempts to teach SME customers and offer promotional campaigns to hedge against financial risk.
Citic HK to issue US Dollar subordinated bond
10-year bond released by lender is rated Baa3 by Moody's and BBB by Fitch.
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Why Philippine banks, insurers embrace hyper-personalized services
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Industry experts push for the rapid progress of unified customer data as a starting point.
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