Foreign Exchange
Wise raises money transfer limits, lowers global average fee
Wise raises money transfer limits, lowers global average fee
Transfer limits to WeChat recipients is now at RMB50,000.
StanChart unveils cross-currency transactional FX solutions suite
It offers FX payment services across 130 currencies in over 40 markets.
Will the Taiwan dollar overtake yuan as Asia’s top funding currency?
Intervention risks in the yuan are increasing the Taiwan dollar’s attractiveness.
Japan, the Philippines renew bilateral swap agreement
The size of the BSA remains unchanged: $12b for the Philippines and $500m for Japan.
India, Maldives ink deal to promote local currencies for cross-border trade
Both countries aim to reduce costs and expedite settlement times for transactions.
Malaysia fines money changer for customer due diligence lapses
BSB Darussalam has paid the $7,000 penalty.
BofA launches guaranteed FX rates with up to a 1-year tenor
The 1-year tenor is available in 37 currency pairs.
Japan and Indonesia renew their bilateral swap agreement
The size of the BSA is up to $22.76b or its equivalent Japanese yen.
Citi poaches JPMorgan banker to lead FX institutional sales in 4 APAC regions
Anand Goyal will begin in December, and will be based in Singapore.
Korea, Turkey renew bilateral swap agreement
The extension is effective for a period of 3 years beginning August 2024.
Philippine central bank rolls out Intraday Settlement Facility
The ISF is designed to support a paperless process.
Philippine regulators amend FX regulations, set penalties
A maximum penalty of $17,130 is set for each transactional violation.
Philippine remittances up 3.7% to $2.88b in May
Cumulative personal remittances rose by 3% during the month.
Krungsri sees FX profits rise 21% in Q1
Digital FX transactions is 64% higher year-to-date.
HSBC, Visa team up to develop multi-currency app Zing
Users can hold funds in 10 different currencies and transact in 200 countries.
APAC emerging markets buck global remittance decline
China, India, and the Philippines remain “bright spots” for remittance activity, says Visa.
Overseas Filipinos’ personal remittances up 3.1% in April
Remittances from the US, Saudi Arabia, and Singapore all grew.
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