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  • September 2, 2014
  • Last updated: 4:51pm
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Results 1 - 10 of 13 for currency

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  1. Business - Banking & Finance - FOREIGN EXCHANGE

    How do rich Chinese elude foreign exchange laws to move their money abroad? Take your pick of ways

    Posted Jul 10th 2014, 11:55pm by Keira Lu Huang

    ... money changers A client transfers funds to the money changer's mainland account first. Then the money changer will remit the equivalent in foreign currency to the customer's overseas ... their wealthy clients open overseas accounts within the same bank. After that, they can apply for loans overseas and get foreign currency. Usually this method requires deposits of between 6 million ...

  2. Business - Commodities - FOREIGN EXCHANGE

    China maintains net capital inflows, but pace slows

    Posted Apr 25th 2014, 12:45am by Victoria Ruan

    ... when China abandoned the yuan's peg to the US dollar, replacing it with a system that references a basket of international currencies. That had been a major step in giving the yuan greater ... on foreign-currency debt, which put them under pressure after the yuan reversed its course, he said. ...

  3. Business - Banking & Finance - FOREIGN EXCHANGE

    People's Bank of China in swap deal with European Central Bank

    Posted Oct 11th 2013, 12:00am by VICTORUA RUAN

    ... Victoria Ruan in Beijing Victoria.ruan@scmp.com The deal is a major step towards making the yuan fully convertible globally within five years PBOC makes currency swap agreement with ECB In a major step towards the yuan's internationalisation, the People's Bank of China agreed to create a currency swap line with the European Central Bank (ECB). Analysts said the PBOC may ...

  4. Business - Money - FOREIGN EXCHANGE

    South Korea warns it may curb derivatives as won rallies

    Posted Nov 22nd 2012, 11:50am by Reuters in Seoul

    ... Choi said lowering currency derivatives ceilings at banks was the government’s first option, and the finance ministry would try to finally decide by next week whether to impose the measure. The Bank of Korea and the Financial Supervisory Service earlier this month began a joint inspection of foreign-currency trading by banks operating in the country. Lowering the caps on banks’ ...

  5. Business - Money - FOREIGN EXCHANGE

    Yen hits 7-mth low on likely next govt’s calls for easing

    Posted Nov 19th 2012, 12:49pm

    ... may find support after last week’s 2.4 per cent drop against the dollar, the Japanese currency’s biggest weekly per centage drop in nine months. But, analysts said the medium-term outlook ... on monetary policy, analysts say. The euro edged up 0.1 per cent to 103.71 yen. Earlier, the single currency rose to as high as 104.15 yen, the euro’s highest level against the Japanese currency ...

  6. Business - Economy - FOREIGN EXCHANGE

    China yuan near 19-year high versus US dollar as exchange reserves grow

    Posted May 21st 2013, 12:00am by BLOOM

    ... the strongest level since the government unified official and market exchange rates at the end of 1993. The currency was 0.97 per cent stronger than the central bank's reference rate, which ... by US$131 billion in the first quarter to a record US$3.44 trillion. The jump in the reserves is large enough for China to be judged a currency manipulator by the US Treasury, Tim Condon, ...

  7. Business - Banking & Finance - FOREIGN EXCHANGE

    Mainland trading in yuan now more open

    Posted Nov 29th 2012, 12:00am by Kwong Man-ki

    ... indicative quotes of yuan against other currencies are provided by banks. "Their [CFETS'] willingness to provide these rates really gives you some insight into the internationalisation, or the drive for the internationalisation of the currency," Tod Van Name, Bloomberg's global head of foreign exchange, economics and commodities, told the South China Morning Post. The Post ...

  8. Business - Banking & Finance - FOREIGN EXCHANGE

    ICBC to start clearing yuan in Singapore from Monday

    Posted May 25th 2013, 12:00am by KANIS LI

    ... to serve as a gateway for the use of yuan in Southeast Asia, as it is the primary financial, commodities, and currency trading hub in the region. "As trade flows between China and Southeast Asia continue to grow, it is natural that more companies will consider using the yuan as their currency of choice for bilateral trade," Deutsche Bank's head of global transaction ...

  9. Business - Money - FOREIGN EXCHANGE

    Uncertainties over central bank policies take shine off carry trade

    Posted Oct 23rd 2012, 12:00am by Bloomberg

    ... historically favour the strategy of borrowing in low-yielding currencies to buy those with higher returns, a UBS index that tracks profits from the so-called carry trade has fallen to the lowest level since 2011. "At this stage it may feel frustrating, but waiting is not a bad strategy," said Mauricio Bouabci, a currency fund manager in London at Pareto Investment Management, which ...

  10. Business - Money - FOREIGN EXCHANGE

    Yuan climbs toward 19-year high on improving economic outlook

    Posted Nov 26th 2012, 11:09am by Bloomberg

    ... in the future,” said Bruce Yam, a currency strategist at Sun Hung Kai Financial Ltd. in Hong Kong. “More funds are coming to Chinese markets as they are deemed as a safer place. But the PBOC doesn’t want ... 6.2252 on November 14, the strongest level since China unified official and market exchange rates at the end of 1993. The currency can trade as much as 1 per cent on either side of the PBOC’s ...




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