Foreign Exchange

LIBOR transition: A trigger for re-thinking IT platforms
2 Dec 20
What does replacing LIBOR mean for financial services firms?
South Korea may extend eased liquidity rules for banks: report
17 Aug 20
The foreign exchange liquidity rules are eased until September.
South Korea's FX reserves hit $417b at end-July
6 Aug 20
It reached a record-high in the value of non-dollar assets and investment return.
South Korean banks' daily FX turnover tumbled 12.4% in Q2
28 Jul 20
Values were hit due to the cut in transactions and fluctuations in exchange rates.
Thailand permits non-bank firms to provide foreign e-money
29 Jun 20
An operator must have a minimum registered paid-up capital of $3m (THB100m).
MAS establishes $60b USD facility for banks
26 Mar 20
It aims to support more stable USD funding conditions in Singapore.
Taiwan's central bank to stabilise forex after US rate cut: report
4 Mar 20
The US made its first emergency cut since 2009 as COVID-19 continues to spread.
Deutsche Bank floats FX digital platform in Sri Lanka
19 Feb 20
Clients can pay in local currency between two Asian markets.
SGX FX futures trading volume hit $175.12b in January
18 Feb 20
USD/CNH and INR/USD futures both jumped.
Global FX market daily turnover hits $6.6t in 2020
14 Jan 20
A 40% increase in daily forex trading volume was noted over the last decade.
Singapore steps up efforts to boost FX ecosystem as Hong Kong closes in fast
10 Jan 20
Citi launched a pricing engine that cuts the time it takes to route a trade between Singapore to Tokyo.
BNP Paribas to launch e-FX pricing and trading engine in Singapore
6 Jan 20
The tech will offer e-FX trading of 50 currencies across various types of rates.
Singapore, Japan central banks extend bilateral currency swap program
2 Dec 19
Under the agreement, Singapore provides yen liquidity to eligible financial firms to support cross-border operations.
ICBC, CCDO, SGX to endorse new renminbi bond indices
27 Nov 19
The new bond indices can be used as performance basis for investing in RMB bonds.
Singapore ranks as the world's third largest foreign exchange centre
18 Sep 19
Average daily FX trading volume hit $870.63b in April.
J.P. Morgan to set up electronic FX trading and pricing engine
29 Aug 19
It will launch in early 2020.
Hang Seng Bank adds forex functionality to AI-powered chatbot
31 Jul 19
Users can request data on current rates and detect nearby FX ATMs.
Standard Chartered launches one-stop digital forex platform
18 Jun 19
It allows clients to personalise watchlists and price alerts.
TransferWise to launch remittance services in Malaysia
17 Jun 19
It will also enable customers to access eKYC checks.
Standard Chartered to launch FX e-trading and pricing in Singapore
3 Jun 19
It will allow FX e-trading of over 130 currencies.
Too crowded bets on “7” for USDCNY could be dangerous
3 Jun 19
Chinese yuan has been under pressure in recent weeks due to the double dip in recent ecomomic data and more importantly, the escalating trade war...
Korea trials drive-thru banking in fintech sandbox
6 May 19
Woori Bank aims to make the service available in restaurants and car parks near the airports.
Singapore to dominate forex with sub-second speeds
25 Apr 19
MAS looks for ultra-fast platforms that could route currency trades in milliseconds.
Taiwanese banks' yuan deposits up to $42.34b in March
23 Apr 19
RMB deposits held by offshore banking units rose by $200m to $5.06b.
Japan boosts money laundering defences
25 Mar 19
MUFG Bank and Mizuho Bank will halt international cash remittances from June.
Citi to set up FX pricing and trading engine in Singapore
11 Mar 19
It will feature a proprietary pricing and hedging algorithm and offer 23 spot currencies.
South Korean banks' forex turnover hits decade-high at $55.51b in 2018
31 Jan 19
Strong capital inflow boosted yearly figures.
Taiwanese banks' yuan deposits shrinks to 4-year low in December
23 Jan 19
This represents the third straight month of decline.
Korea slaps $600,000 fine on 4 global banks over forex rigging
23 Jan 19
JP Morgan Chase faced the highest penalty of $223,000.
CIMB offers reimbursement scheme for foreign remittance
18 Jan 19
CIMB Preferred customers can get up to $24.31 per day.
Singapore leads innovation in Asia's forex sector with distributed ledger and eFX
1 Nov 18
It rolled out Project Ubin, a collaboration exploring blockchain for settlement of payments and securities.
Indonesia's big 4 banks hold firm against tumbling rupiah
24 Sep 18
Their low dollar balance sheet cushions the blow.
UBS to launch eFX engine in Singapore by Q2 2019
5 Sep 18
It is expected to improve the FX market’s transparency and efficiency.
Philippine banks tie up with Bank of China to launch peso-renminbi spot market
24 Jul 18
Individuals can soon change renminbi into peso and vice versa.
RCBC rolls out online FX trading facility
5 Jul 18
It’s said to be the first such platform in the Philippines.
Standard Chartered tapped for Alipay's blockchain cross-border remittance service
26 Jun 18
It will act as the settlement bank for AlipayHK and GCash.
RCBC to roll out blockchain remittance service in Japan
21 Jun 18
The move aims to cater to the overseas Filipino workers in the country.
Can Indonesian banks survive the severe local currency depreciation?
23 May 18
The Indonesian rupiah has plunged to a three-year low which might level strain on the banking system.
UOB reportedly halting foreign currency banknote supply in Taiwan
18 May 18
The move comes amidst tighter anti-money laundering rules in the region.
Indian banks team up in blockchain-powered trade finance network
17 May 18
The collaboration will leverage on Infosys Finacle’s technology.

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