Foreign Exchange
Philippine regulators amend FX regulations, set penalties
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.
Deutsche Bank appointed by Euroclear as cash settlement and forex bank in Korea
It involves bond activities for Korea Treasury Bonds and Monetary Stabilization Bonds.
PH central bank revokes license of local money changer
Money changer NIKKO reportedly committed “serious violations” of money laundering laws.
Philippine central bank simplifies FX policy for foreign investment registration
Foreign investments can now be registered upon registering at any authorized agent bank.
Philippine central bank denies issuing directive re “stamped” US dollar notes
It reminded the public to remain vigilant against bogus information.
MAS investigating Samlit for allegedly failing to remit money to China
The money changer is suspected of failing to comply with obligations as a licensed payment service provider.
Philippine remittances up 2.9% to $3b in November: central bank
Cumulative personal remittances grew to $33.6b in the first 11 months of 2023.
HSBC HK unveils debit, supplementary card waiving foreign currency fees
The cards also offer a 0.5% instant cash rebate on all spendings.
Philippine court convicts owner of unregistered money exchange business
The owner and operator of Globexmc can no longer own and operate an MSB.
China allegedly asks banks to delay dollar buying to slow yuan depreciation: report
The yuan hit an eight-month low in July.
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