Wednesday, July 8

Tag: Forex

China’s foreign exchange reserves expand in June – SHINE
Forex News

China’s foreign exchange reserves expand in June – SHINE

China's foreign exchange reserves expanded to US$3.1123 trillion at the end of June, official data showed on Tuesday. The amount increased by US$10.6 billion, or 0.3 percent, from the end of May, according to the State Administration of Foreign Exchange. China's forex market in June reported generally balanced supply and demand, said SAFE spokesperson Wang Chunying. Wang said the uptick in the scale of forex reserves is affected by multiple factors, including exchange rates and changes in asset prices. Factors including the global spread of COVID-19 as well as monetary and fiscal stimulus of major economies led to the drop in the US dollar index and the rise in asset prices of major countries, according to Wang. Wen Bin, chief analyst at China Minsheng Bank, said cross-border capital...
Recent amendments to Foreign Exchange and Foreign Trade Act – Lexology
Forex News

Recent amendments to Foreign Exchange and Foreign Trade Act – Lexology

Introduction In light of the global trend to further regulate foreign direct investments from a national security viewpoint, the Foreign Exchange and Foreign Trade Act of Japan (FEFTA) and regulations thereunder were subject to amendments which took effect in August 2019 and October 2019 (the 2019 amendments) and in May 2020 (the 2020 amendments). The 2020 amendments drew particular attention from Japanese stock market participants concerned about the potential negative impact thereof, as the threshold requirement for foreign investors to file prior notifications with the relevant authority before the acquisition of shares in listed companies in Japan was reduced substantially from 10% of all outstanding shares to 1%. However, as the 2020 amendments were promulgated in April 2020, it be...
Loomis Restructures the Physical Foreign Exchange (FX) Business in Norway – PRNewswire
Forex News

Loomis Restructures the Physical Foreign Exchange (FX) Business in Norway – PRNewswire

SOLNA, Sweden, July 6, 2020 /PRNewswire/ -- In May 2019, a Danish journalist put forward allegations that a Loomis subsidiary had delivered currency to foreign exchange offices in Denmark, of which a few were suspected to be involved in money laundering. The foreign exchange business in Denmark was conducted by Loomis Foreign Exchange AS in Norway (Loomis FX). Loomis ambition is to always secure compliance with rules and regulations and Loomis has high standards for ethical guidelines. This applies to corporate governance as well as risk management within operations and other areas. Therefore, Loomis immediately initiated an internal and two external investigations to review Loomis FX's anti money laundering (AML) framework and the compliance with relevant regulations. The conclusions of ...
Strategy:10 – Low-risk, high-return forex trading
Ebook, Forex

Strategy:10 – Low-risk, high-return forex trading

The information contained in this document, although highly entertaining and quite instructive, might lead you to believe that tomorrow you’re going to be a millionaire. You are not going to be a millionaire tomorrow. Well…that’s technically not correct. Because you could be a millionaire already, in which case tomorrow you’re guaranteed to be one. Credit: Rob Booker Strategy:10 - Low-risk, high-return forex tradingDownload
Market exchange rates in China — July 6 – Xinhua | English.news.cn – Xinhua
Forex News

Market exchange rates in China — July 6 – Xinhua | English.news.cn – Xinhua

BEIJING, July 6 (Xinhua) -- The following are the central parity rates of the Chinese currency renminbi, or the yuan, against 24 major currencies announced on Monday by the China Foreign Exchange Trade System: Currency Unit Central parity rate in yuan U.S. dollar 100 706.63 Euro 100 794.94 Japanese yen 100 6.5694 Hong Kong dollar 100 91.176 British pound 100 881.49 Australian dollar 100 490.75 New Zealand dollar 100 461.83 Singapore dollar 100 506.88 Swiss franc 100 747.91 Canadian dollar 100 521.40 Malaysian ringgit 60.603 100 Ruble 1,010.01 100 Rand 241.64 100 Korean won 16,957 100 UAE dirham 51.98 100 Saudi riyal 53.083 100 Hungarian forint 4,452.27 100 Polish zloty 56.11 100 Danish krone 93.71 100 Swedish krona 131.90 100 Norwegian krone 134.06 100 Turkish lira 9...
Azerbaijani banks’ demand at CBA’s foreign exchange auction rises – MENAFN.COM
Forex News

Azerbaijani banks’ demand at CBA’s foreign exchange auction rises – MENAFN.COM

(MENAFN - AzerNews) By Trend The Central Bank of Azerbaijan (CBA) held a foreign exchange auction with the participation of the State Oil Fund of Azerbaijan (SOFAZ), during which Azerbaijani banks acquired $53.1 million,  Trend  reports on July 2 citing CBA. According to CBA, demand from the banks at the auction increased by 4.5 percent or by $2.8 million compared to the previous auction. Considering the number of days remaining before the next scheduled auction, as well as with the aim of ensuring uninterrupted currency trading by the banks, the demand of banks at the auction will be fully provided during weekends. The first foreign exchange auction in a long time was held with the participation of SOFAZ on March 10, 2020, during which Azerbaijani banks acquired $323.2 mill...
Market exchange rates in China — July 3 – Xinhua | English.news.cn – Xinhua
Forex News

Market exchange rates in China — July 3 – Xinhua | English.news.cn – Xinhua

BEIJING, July 3 (Xinhua) -- The following are the central parity rates of the Chinese currency renminbi, or the yuan, against 24 major currencies announced on Friday by the China Foreign Exchange Trade System: Currency Unit Central parity rate in yuan U.S. dollar 100 706.38 Euro 100 793.79 Japanese yen 100 6.5702 Hong Kong dollar 100 91.142 British pound 100 880.73 Australian dollar 100 488.98 New Zealand dollar 100 459.93 Singapore dollar 100 506.37 Swiss franc 100 747.20 Canadian dollar 100 520.74 Malaysian ringgit 60.649 100 Ruble 996.82 100 Rand 240.46 100 Korean won 16,985 100 UAE dirham 51.997 100 Saudi riyal 53.10 100 Hungarian forint 4,425.65 100 Polish zloty 56.205 100 Danish krone 93.87 100 Swedish krona 131.89 100 Norwegian krone 134.84 100 Turkish lira 96...
Market exchange rates in China — July 2 – Xinhua | English.news.cn – Xinhua
Forex News

Market exchange rates in China — July 2 – Xinhua | English.news.cn – Xinhua

BEIJING, July 2 (Xinhua) -- The following are the central parity rates of the Chinese currency renminbi, or the yuan, against 24 major currencies announced on Thursday by the China Foreign Exchange Trade System: Currency Unit Central parity rate in yuan U.S. dollar 100 705.66 Euro 100 794.05 Japanese yen 100 6.5701 Hong Kong dollar 100 91.046 British pound 100 880.08 Australian dollar 100 488.08 New Zealand dollar 100 457.44 Singapore dollar 100 506.39 Swiss franc 100 746.16 Canadian dollar 100 519.38 Malaysian ringgit 60.709 100 Ruble 999.66 100 Rand 241.62 100 Korean won 17,030 100 UAE dirham 52.045 100 Saudi riyal 53.15 100 Hungarian forint 4,442.84 100 Polish zloty 56.352 100 Danish krone 93.85 100 Swedish krona 131.85 100 Norwegian krone 134.81 100 Turkish lira ...
Market exchange rates in China — June 30 – Big News Network
Forex News

Market exchange rates in China — June 30 – Big News Network

BEIJING, June 30 (Xinhua) -- The following are the central parity rates of the Chinese currency renminbi, or the yuan, against 24 major currencies announced on Tuesday by the China Foreign Exchange Trade System: Currency Unit Central parity rate in yuan U.S. dollar 100 707.95 Euro 100 796.10 Japanese yen 100 6.5808 Hong Kong dollar 100 91.344 British pound 100 871.44 Australian dollar 100 486.57 New Zealand dollar 100 454.95 Singapore dollar 100 508.13 Swiss franc 100 744.34 Canadian dollar 100 518.43 Malaysian ringgit 60.494 100 Ruble 990.77 100 Rand 243.82 100 Korean won 16,931 100 UAE dirham 51.882 100 Saudi riyal 52.984 100 Hungarian forint 4,476.75 100 Polish zloty 55.937 100 Danish krone 93.59 100 Swedish krona 131.77 100 Norwegian krone 136.57 100 Turkish lir...
Foreign Exchange Authorities Net-sold US$5.9 Billion in Q1 – BusinessKorea
Forex News

Foreign Exchange Authorities Net-sold US$5.9 Billion in Q1 – BusinessKorea

The Bank of Korea announced on June 30 that the foreign exchange authorities net-sold approximately US$5.85 billion in the first quarter of this year in order to deal with the COVID-19 pandemic. In that quarter, the pandemic led to a rapid rise in won-dollar exchange rate and forex market fluctuations. Under the circumstances, the forex authorities sold the U.S. dollar to defend the exchange rate. The Bank of Korea has disclosed its forex market intervention history since its past agreement with the Ministry of Economy and Finance. However, details such as total sale and total purchase are not subject to the disclosure. Data on the second quarter of this year is scheduled to be made public at the end of September. Credit: Source