Where does Libor live in a bank? Why are banks in Asia not looking at Libor transition seriously? Which bank is racing ahead? It’s been an interesting couple of weeks for Libor transition watchers.
After the State Bank of Vietnam’s (SBV) devaluation of the dong on January 7, CT asks FX strategists what similar FX moves Asia-Pacific treasurers should look for in 2015.
Thai Airways switched from operating in US dollars backed with FX hedging to a natural hedge strategy, but the plunging baht has called the decision into question.
Banks disagree on the foreign exchange implications of the PBOC’s announcement of a wider renminbi trading band, but advise SMEs to switch to invoicing in renminbi.
Singapore’s banks will cease publishing an offshore rupiah reference rate, treasurers with outstanding contracts will have to switch to the onshore rate.