Foreign Exchange
PBoC governor: China needs to reduce FX reserves
PBoC governor Zhou Xiaochuan said China’s FX exceeded US$3tn at end March, way above necessary levels.
PBoC governor: China needs to reduce FX reserves
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
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
A Russian bank is considering its first issuance of yuan-denominated bonds in Hong Kong.
ICBC conducts RMB option trading with BOC
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
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
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...
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