*Safe lifts time restrictions on converting renminbi
*Malaysia and Australia combine for fintech
*Malaysia introduces new method for USD/MYR spot fixing
*FASB announces accounting rule update
Sri Lanka’s prime minister has announced plans to revise the law that restricts foreign exchange flows into and out of the country, but exporters are not holding their breath.
The IMF has endorsed the renminbi as a freely usable currency, recognising China’s increased importance in the global financial market. The renminbi’s journey to attaining this status was never straightforward.
To turn corporate bad loans into performing assets, the Reserve Bank of India has nudged its debt restructuring rules to grant lenders an easier way out of defaulting companies.
India’s central bank wants to stop long-term export advances being issued for struggling Indian firms to repay rupee loans. However, the guidelines appear riddled with holes.
With volatile currency swings and unpredictable stabilisation measures, treasurers in Asia-Pacific are increasingly turning to intercompany loans and hedging.