FILE PHOTO: Chinese Yuan and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
The data shows exporters are increasingly turning to the swap market to convert their overseas earnings and remittances into yuan, rather than outright dollar selling, as they seek higher returns on dollars and wait for better exchange rates. Heightened interest in using the FX swaps to temporarily acquire the yuan comes as yield differentials between the world's two largest economies widened in January, as market participants pushed back on the timing of interest rate cuts in the United States to drive the dollar higher.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Consumer Prices Ease in January on Lower Services and Food InflationConsumer prices eased in January on the back of lower services and food inflation, in line with full-year projections that both core and headline inflation will continue their downward trend.
Source: STForeignDesk - 🏆 4. / 71 Read more »
Chinese Travellers Boost Tourism in AsiaChinese travellers flocked to tourist hot-spots across Asia over the Chinese New Year break, with visitor numbers and spending in destinations including Singapore, Thailand and Malaysia exceeding pre-Covid levels. Visa-free access for Chinese tourists to the South-east Asia countries boosted traffic and signalled a robust revival in travel since Beijing.
Source: STForeignDesk - 🏆 4. / 71 Read more »
Chinese tourists flock to South-east Asia as overseas travel bounces backBookings to Singapore, Thailand, Malaysia jumped more than 30% from Feb 10-17 compared with 2019.
Source: The Straits Times - 🏆 8. / 63 Read more »
Philippines Accuses Chinese Coast Guard of Dangerous Manoeuvres in South China SeaThe Philippines accuses Chinese coast guard ships of dangerous manoeuvres after they repeatedly blocked a Philippine vessel delivering supplies to fishermen at a reef off the South-east Asian nation's coast.
Source: STForeignDesk - 🏆 4. / 71 Read more »
Chinese Coast Guard Boards Taiwanese Tourist Boat Near Taiwan-Controlled IslandsChinese coast guard personnel briefly boarded a Taiwanese tourist boat near Taiwan-controlled islands next to China’s coast on Feb 19, the government in Taipei said, in an escalation of tensions after China said it would carry out regular patrols.around the Kinmen islands following the death of two Chinese nationals fleeing Taiwan’s coast guard having entered into prohibited waters too close to Kinmen, which lies opposite the Chinese cities of Xiamen and Quanzhou.
Source: STForeignDesk - 🏆 4. / 71 Read more »
Homeowner Charged $3,590 by Electrician on Chinese New YearA homeowner was charged $3,590 by an electrician to fix the circuit breaker on the first day of Chinese New Year at midnight.
Source: stompsingapore - 🏆 11. / 53 Read more »