Topic
Currency market action focused on developments with the Chinese yuan and the Hong Kong dollar.
De facto central bank aims for first-mover advantage through blockchain technology, providing welcome lift to Hong Kong’s image as global financial centre
Meeting of leading central bankers an answer to those who doubt city’s reputation as global financial centre.
Analysts blame structural problems for the plunge and say PM Anwar needs to make long-term economic reforms – and find the political support for these measures.
The Hong Kong Monetary Authority has launched the second phase of a pilot programme to explore ‘innovative’ uses for a central bank digital currency (CBDC) for public use, five months after it unveiled the results of the first trial run.
The Hong Kong Monetary Authority launched a plan to trial stablecoins, announced in December, for companies with a ‘genuine interest’ in fiat-backed crypto.
China’s State Council vows to further support policies to optimise payment methods and pledges wider support for currency exchange services as part of efforts to address hurdles faced by foreigners.
Two years after the invasion of Ukraine isolated Russia from the Western financial system, major energy and mining companies have come to rely on the yuan for most of their foreign-currency needs
Second Finance Minister Amir Hamzah Azizan’s forecast comes on the back of Malaysia’s stronger economic outlook and benign inflation.
Analysts say that while enhanced financial ties between the two countries could help internationalise China’s currency, Beijing tends to play it safe when upholding its neutrality regarding the war in Ukraine.
The ringgit continues to be battered, a week after falling to a 26-year low against the US dollar.
China’s next big impending change in the financial market is letting more foreign institutional investors into its onshore repo market.
Prime Minister Anwar Ibrahim said surging investments and falling jobless rate showed the country was in a better shape to tackle currency volatility.
The barter deal allows sanctions-hit Iran to avoid having to use up scarce hard currency to pay for imports of popular tea. It also allowed Sri Lanka to pay with tea, as the country was short of foreign currency.
Hong Kong is set to continue capitalising on offshore yuan funding opportunities after ‘dim sum’ bonds and loans – offshore debt denominated in the yuan – grew exponentially in 2023, regulators say.
China’s floundering economy is hurting the Southeast Asian nation’s exports, which declined for a 10th consecutive month in December.
Paying for everything from daily goods to big-ticket items with mobile devices in China rapidly became fast and convenient for Chinese people, but it can leave outsiders feeling like their money is not wanted.
With the former president seemingly a lock for the Republican nomination, investors are preparing for a possible return to the days of the US-China trade war which steamrollered the yuan during his term in office
China has the world’s largest foreign exchange reserves, but some have argued Beijing needs to reduce its size, while others believe having a sizeable holding remains important.
As the cost of living back home soars, Singaporeans are taking advantage of their local dollar’s unprecedented strength. And the Malaysian ringgit isn’t the only Asian currency at a record low against it.
Russian central bank governor Elvira Nabiullina says the yuan’s share in Russia’s exports has increased from 0.4 to 34.5 per cent, replacing the US dollar and euro as its ‘primary’ currency for foreign economic activity.
Analysts and traders are divided over whether the Fed will cut rates in March, or whether a move later in the year would make more sense.
The ringgit has slid more than 1 per cent in January, and is about 3 per cent away from a 25-year low reached in October.
Woman, 62, was stopped for inspection at border checkpoint upon her return from Shenzhen on Tuesday.
Until the Asian financial crisis of 1997, many Korean banks operated nights shifts. Now some are bringing them back as the government pushes for round-the-clock won trading.
Analysts warn of the complexities in distinguishing clean from ‘dirty’ money in frozen accounts.