Global news and insight for corporate financial professionals
Argentina
The appointment of Alfonso Prat-Gay as Argentina’s new Finance minister was a clear sign to international investors that president Mauricio Macri, sworn in December 10, was serious about unraveling the populist policies of the previous government.
Capital Markets | Foreign Exchange Controls
In early November, Chinese Communist Party leaders announced plans to make the renminbi a “freely tradable and usable currency” by 2020—when the latest five-year development plan is set to finish—according to a statement by the party’s Xinhua News Agency.
Capital Markets | Renminbi
The renminbi dropped a position in October, going from fourth to fifth, in terms of its use as a currency for international payments, according to the latest SWIFT Renminbi Tracker report.
FX markets move to ramp up self-regulation before politicians step in.
As volatile currencies toy with the bottom lines of global companies, corporate treasurers are paying a lot more attention to foreign exchange.
As volatile currencies toy with the bottom lines of global companies, corporate treasurers are paying a lot more attention to foreign exchange.
Cross Rates: An unprecedented wave of cross-border mergers and acquisitions is driving demand—and rates—for foreign currencies.
Global Finance’s annual list of Who’s who in Foreign Exchange.
In the long run, a fully convertible renminbi will make things easier for global companies doing business in China. Shorter term, treasurers face hard choices.
Innovation is bringing transparency and diversity to the FX market.
Real-time payment remains the holy grail of global transaction processing. And like the grail, it remains elusive.
Capital Outflows | The meltdown in China’s stock market this summer and steep falls in many emerging markets currencies led some investors to wonder if another 1997 Asian crisis was brewing.
What’s irking central bankers is not that they have bought too many stocks or bonds. Rather, it’s that they haven’t bought enough.
FX Reserves | China’s foreign exchange reserves plunged by nearly $94 billion in August, the most ever in a single month, as the People’s Bank of China (PBoC) struggled to support the renminbi after devaluing the currency by 1.9%.
Regulators are starting to ask more questions about cross-border payment flows, which is forcing banks to have more nuanced conversations with their networks of correspondent banks.
Against the backdrop of a lackluster economy, Canadian voters will head to the polls on October 19—and it’s no shoe-in for incumbent prime minister Stephen Harper.
Capital Markets | Foreign Exchange
The executive board of the International Monetary Fund recently held an informal meeting to discuss a staff report that found some deficiencies in the renminbi as a potential reserve currency.
Introduction
The strong US greenback is making life difficult for corporate treasurers.
A wobbly administration and a plunge in commodities prices have triggered one of the nation’s toughest years in recent memory.
Global Finance’s Who’s Who in International Foreign Exchange will span the globe for the most important, influential, creative and powerful people in foreign exchange - those who are leading the way to the future at companies, investors, banks and technology providers.