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Rupee hits a new low, turns worst performer in Asia

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Mumbai: The Indian currency’s woes continued on Wednesday as it slumped to a record low after expectations regarding measures to attract dollars were belied. There was no clarity on such proposals after a meeting between regulators. Wednesday’s losses pulled the rupee down to make it the worst performer in Asia. Since January this year, the rupee has weakened 10.28% and has ... Read More »

Dollar hits seven-week low; Chinese data buoys Australian dollar

australian-dollar

(Reuters) – The dollar fell to a seven-week low against a basket of currencies on Thursday as recent inconclusive economic data and comments from Federal Reserve policymakers raised doubts over when the U.S. central bank will begin reducing stimulus. Riskier currencies and growth-linked currencies, such as the Australian dollar, notched gains versus the greenback on forecast-beating Chinese trade data, which could indicate ... Read More »

Asia-Pacific currencies tumble on Fed, China fears

asia pacific currency

TOKYO: Asia-Pacific leaders are scrambling to reverse a decline in their currencies as an expected tapering of the US Federal Reserve’s stimulus and Chinese economic slowdown send waves of foreign capital flowing outside their borders. Fears of a cash flight have sparked a warning from South Korea’s finance minister about possible “spillover effects” from the Fed’s wind down, ahead of ... Read More »

Asia’s local currency bond markets are booming

asian currency bond market

Trading volume in local currency Asian bonds has grown from less than an annual $500 billion in 2008 to more than $1 trillion in 2012, and a new report from Greenwich Associates and HSBC suggests strong growth will continue. When local currency bonds emerged five years ago as a legitimate, albeit small, subset of fixed-income investing in Asia, their appeal ... Read More »

Dollar Over Y100 Could Be Good For Global Growth (video)

yen forex dollar

The dollar’s rise over Y100 could prove good for global growth if it helps to get the Japanese economy back on its feet. Dow Jones’s Paul Hannon looks at the ins and outs of the results of the Bank of Japan’s massive monetary expansion as G7 finance ministers meet in the U.K..   WSJ Digital Network Read More »

Dollar surges to multi-year highs on yen in Asia

dollar vs yen

TOKYO — The US dollar surged in Asian trade on Friday after topping the 100 yen level for the first time in four years, but analysts warned that the Japanese unit’s sharp drop was a double-edged sword. The greenback changed hands at 101.00 yen in afternoon Tokyo trade against 100.55 yen in New York Thursday afternoon — it was last ... Read More »

What Europe’s Mistakes Teach Asia

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A Chinese proverb tells us that it is wise to learn from your own mistakes but wiser to learn from the mistakes of others. Asian leaders should take this advice to heart as they juggle between policies for social welfare and economic dynamism. By keeping a keen eye on Europe’s fiscal crises, they can avoid the worst of the Continent’s ... Read More »

Will Asian Currencies Disappoint?

Asia currency

“Look how much faster these economies are growing! Just look at their favorable Balance of Payments! Look at the FDI (Foreign Direct Investment) pouring in! Look at their fiscal health!” These are words I often heard when I arrived in Singapore to run an Asian currency trading business in 2010. The center of economic gravity was moving East – this ... Read More »

SGX to introduce Asian Currency Futures in 3Q 2013

asian currency futures

Singapore, Mar 13, 2013 – (ACN Newswire) - Singapore Exchange (SGX) is adding Asian foreign exchange (FX) futures to its derivatives market in the third quarter of 2013, subject to regulatory approval. The proposed FX futures suite will include deliverable and non-deliverable Asian currencies cleared in currencies such as the US dollar, Japanese yen and Singapore dollar. SGX will initially offer ... Read More »

Singapore eyes regional hub status for offshore RMB

Singapore renminbi

Addressing ACI Congress delegates, deputy prime minister and chairman of the Monetary Authority of Singapore talks up Singapore’s ability to facilitate the growth of renminbi trading outside China Singapore is aggressively seeking to become a major regional hub for offshore trading of Chinese renminbi as the currency gradually becomes more internationally traded, according to the city-state’s deputy prime minister and ... Read More »