currency exchange

Retail Asia28/11/2019

Vietnam has significantly lowered penalties for illegal currency exchanges following outrage over a man being fined VND90 million ($3,900) for exchanging $100 last year. The fine was revoked after a public outcry erupted over disproportionate punishment. An individual or a shop illegally exchanging up to $1,000 will receive a warning instead of a fine of […]

Retail Asia29/01/2019

The dollar eased versus most of its peers on Monday as investors turned their attention to this week’s Federal Reserve policy meeting, with traders wagering policymakers will signal a pause in their tightening cycle. The Federal Open Market Committee meets between Jan 29-30, and Chairman Jerome Powell is widely expected to acknowledge growing risks to […]

Retail Asia07/01/2019

The ringgit is expected to face a challenging upcoming week as the market uncertainty over trade tensions and a slowdown in the global economy encourage investors to remain risk-off. FXTM Research Global Head of Currency Strategy Jameel Ahmad said that the local unit may face the risk of falling below RM4.15 against the greenback next […]

Retail Asia26/12/2018

The U.S. recent interest hike might result in a high demand for U.S. dollars in Vietnam, weakening the local currency further, experts say. The U.S. Federal Reserve Wednesday raised its interest rates for the fourth time this year to 2.25-2.5 percent. The Fed has projected two more hikes next year. Every time the Fed raises […]

Retail Asia12/12/2018

The official exchange rate between Vietnamese dong and U.S. dollar reached its highest this year Wednesday, and experts said the dong could depreciate further. The State Bank of Vietnam set a central exchange rate of VND22,757 on Wednesday, the sixth time the rate has gone up in the last two weeks. The dong has fallen […]

Retail Asia30/10/2018

Vietnam’s shrimp export value plunged almost 15 percent year-on-year in September, hit by the rising dollar and other factors. The Vietnam Association of Seafood Exporters and Producers (VASEP) said shrimp export value dropped by 14.8 percent year-on-year in September. Total shrimp export value for the first nine months of the year went down four percent […]

Retail Asia22/10/2018

If US-China trade tensions drag on, Vietnam will still see good growth but face strong exchange rate pressures exerted by two major currencies. After GDP growth reached 6.98 percent in the first 9 months of 2018, the highest in the past 8 years, it is relatively clear that the Government will reach its 6.7 percent […]

Retail Asia07/08/2018

Asian markets were mixed today with early gains pared by continuing concerns about the brewing China-US trade war, while the yuan struggled to maintain momentum after the Chinese central bank moved to support the unit. Traders started the day on an upbeat note, tracking their New York and European counterparts following recent painful losses. The […]

Retail Asia23/05/2018

Indonesia’s central bank on Thursday (17/05) hiked its benchmark interest rate for the first time since November 2014, as expected, in a bid to bolster the fragile rupiah. Bank of Indonesia (BI) raised the 7-day reverse repurchase rate by 25 basis points to 4.50 percent. In 2016 and 2017 combined, BI cut the key by […]

Retail Asia08/03/2018

Non-bank institutions will be allowed to directly engage in currency exchange business starting next month as part of a broader deregulation drive to promote the local financial technology sector, the finance ministry said Tuesday. Under revised regulations on currency exchange, a qualified fintech firm will be able to offer a currency exchange service of up […]

Tag: currency exchange

Vietnam reduces penalties for illegal currency exchange

Dollar eases as focus shifts to Fed meeting

Ringgit likely to trade in cautious mode this week

Higher Fed interest rate could weaken Vietnamese currency

Vietnamese currency falls to new low, could go lower

Rising dollar, market glut cut Vietnam’s shrimp export value

US-China trade spat will exert exchange rate pressure on Vietnam

Asian stocks ‘unstable’, yuan struggles

Bank of Indonesia Hikes Key Interest Rate to Boost Fragile Rupiah

Fintech firms can soon offer currency-exchange services