Foreign Exchange

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.

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.

Singapore, Japan renew bilateral swap arrangement

Singapore can swap up to $3b whilst Japan can swap up to US$1b.

China, Thailand ink MOU to enhance local currency use

They will also promote cross-border payment and settlement.