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Tag Archives: currency

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 »

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 »

U.S. concern on China currency fades as yuan grinds higher

Late Chinese leader Mao Zedong is seen on a 100 yuan banknote in this photo illustration taken in Beijing

(Reuters) – After years of grabbing the spotlight in U.S.-China economic relations, U.S. concerns over the value of Beijing’s currency appear to be fading, giving ground to newer issues like cyber-security and trade secret theft. Some lawmakers continue to argue a weak Chinese yuan is robbing jobs from the United States. But action to force a change is unlikely and the ... Read More »

Asia FX up on risk appetite

washington vs mao

SINGAPORE: The Malaysian ringgit led gains in emerging Asian currencies on Thursday, with most regional units set to see monthly rises as risk appetite improved after a relatively smooth sale of Italy’s bonds and on strong U.S. business spending. The ringgit rose as investors rushed to cover short positions, shrugging off news that central bank was set to impose tighter ... Read More »

East Asia may double size of currency volatility fund

asian-currencies

(Reuters) – Southeast Asian nations and Japan, South Korea and China may double the size of a facility created to help each nation fight currency volatility, the Wall Street Journal said on Monday, quoting an Association of Southeast Asian Nations official. The group is considering increasing to $240 billion the funds that could be drawn through the Chiang Mai Initiative ... Read More »

PBoC Rate Hike: RMB Appreciation Will Continue

monetary easing

PBoC announced Tuesday that both base deposit and lending interest rates are raised by 25bps: While interest rates on demand deposits are kept unchanged, those on time deposits of two years or longer maturity are raised by 46-60bps. Our views: 1)This is a surprise to us and the market consensus. 2)This suggests that 3Q GDP growth in 3Q and September ... Read More »

India’s Forex reserves up by $1.61 billion

Reserve Bank of India

MUMBAI: Foreign exchange reserves grew by $1.61 billion to $296.05 billion for the second consecutive week on the back of a rise in the core foreign currency assets. The total reserves had risen by $55.8 million to $293.44 billion in the previous reporting week, according to the RBI data. Foreign currency assets, a major component of the forex reserves, rose ... Read More »

China expands cross-border settlement in yuan to all exporters

yuan

BEIJING, March 2 (Xinhua) — China’s central bank said Friday that all companies qualified for foreign trade activities can conduct cross-border export settlement in yuan. The People’s Bank of China said in a statement on its website that China expanded cross-border trade settlement in yuan to cover all goods exporters in order to “meet market demand and make foreign trade ... Read More »

China to change foreign trade growth patterns

Container-Vessel-Xin-Hong-Kong

BEIJING, March 1 (Xinhua) — A guideline to accelerate the transformation of the country’s foreign trade growth pattern was jointly issued on Thursday by 10 Chinese government agencies. The country aims to balance its foreign trade by increasing imports and optimizing the mix of its import tariffs, according to the publication on the Ministry of Commerce website. The guideline said ... Read More »