various

China FX reserves rise slightly in March, stay above $3tr

Beijing - Arab Today

China’s foreign exchange reserves rose slightly in March, though by a bit less than the market expected, as capital control measures and a pause in the dollar’s rally helped contain outflows. Reserves increased $3.96 billion during March to total $3.009 trillion. In January, reserves slipped below $3 trillion, but a month later, they moved back above that level, increasing $6.92Read more

China’s FX reserves rebound above $3tr

Beijing - Arab Today

China’s foreign exchange reserves unexpectedly rose for the first time in 8 months in February, rebounding above $3 trillion as a regulatory crackdown and weakness in the dollar helped staunch capital outflows. Reserves rose $6.92 billion during February to total $3.005 trillion, their first increase since June 2016, compared with a drop of $12.3 billion in January, when reserves fellRead more

China’s foreign exchange reserves fall below $3tr

Beijing - Arab Today

China’s foreign exchange reserves unexpectedly fell below the closely watched $3 trillion level in January for the first time in nearly six years. China has taken a raft of steps in recent months to make it harder to move money out of the country and reassert a firmer grip on its faltering currency, even as US President Donald Trump stepsRead more

China’s central bank sells net $46.1bn in FX in Dec

Beijing - Arab Today

China’s central bank sold a net $46.1 billion worth of foreign exchange in December, as the authorities continued to support the sliding yuan in the face of a rising dollar and slowing economic growth. Net foreign exchange sales by the People’s Bank of China (PBOC) amounted to 317.8 billion yuan ($46.1 billion), according to Reuters calculations based on central bankRead more

Indonesia's Foreign Exchange Reserves Reach $116.4bn

Jakarta - QNA

Bank Indonesia (BI) reported a total of US$116.4 billion worth of foreign exchange reserves in December, up by US$4.9 billion compared to November 2016, which stood at US$111.5 billion. The increase was boosted by the issuance of global bonds debt securities as well as oil and gas tax, which exceeded the amount required to settle the governments foreign debtRead more

China’s new rules on yuan transfers are not capital controls

Beijing - Arab Today

China’s new rules on overseas currency transfers are not capital controls, the official Xinhua news agency reported, even as some banks told customers that purchases of foreign currency for property, securities and life insurance were not allowed. Capital outflows have been a growing concern for the government in the past year as it attempted to put the economy back onRead more

Saudi Arabia sets record with mammoth $17.5bn bond sale

Dubai/London - Arab Today

Saudi Arabia conducted the largest-ever emerging market bond sale on Wednesday, selling $17.5 billion of debt in the government’s first international offer while attracting investor orders totaling almost four times that amount. The huge demand, larger than many market participants had expected, was partly due to ultra-low global interest rates and funds’ frustration with a lack of high-yielding assets aroundRead more

Pakistan launches $500m in Islamic bonds

Karachi - Arab Today

Pakistan is set to launch $500 million in Islamic bonds to raise money for its foreign exchange reserves, a senior official said Wednesday, as a three-year IMF bailout package nears a close. The government has started looking at key markets for the “Sukuk” bonds — a Shariah compliant instrument that offers profits instead of interest to its subscribers, a topRead more

Turkish Stocks Drop after Moody's Downgrade

Ankara - QNA

The Turkish lira has fallen by as much as 1% this morning and stocks have slid by nearly 4% after Moody’s downgraded the country’s debt to junk, following a similar downgrade from S&P Global Ratings. The agency cited the economy’s exposure to foreign outflows, dwindling foreign exchange reserves and muted growth prospects in junking its debt. The liraRead more

South Korea's Foreign Exchange Reserves Rise in August

Seoul - QNA

South Korea's foreign exchange reserves rose slightly from a month earlier in August due to increased gains from investment in foreign assets and an increase in the dollar-converted value of non-dollar currencies, South Korean central bank data showed Monday. As of the end of August, the country's foreign exchange reserves came to US$375.46 billion, up $4.08 billion from the previousRead more