Made Easy Forex

Bank Negara’s sharia advisers forbid forward forex fee
KUALA LUMPUR, Aug 26 —The central bank’s sharia advisers have outlawed the payment of a fee to support a pledge made in Islamic forward foreign currency transactions, saying such charges contravene the religion. Islamic banks tend to levy a payment when a promise or “waad” is made to enter into a forward foreign currency hedging contract to …
Read more on The Malaysian Insider

General : HSBC China Becomes First Foreign Bank Market Maker To Trade RMB And Ringgit
KUALA LUMPUR, August 20 (Bernama) — HSBC Bank (China) Company Ltd (HSBC China) has become the first foreign bank to be appointed a market maker to provide Malaysian ringgit liquidity as China yesterday opened its domestic foreign exchange market to trades of the ringgit against the renminbi (RMB).
Read more on Bernama

HSBC Bank China maker to provide ringgit liquidity
KUALA LUMPUR: HSBC Bank (China) Co. Ltd has been appointed a market maker to provide ringgit liquidity as mainland China opened its domestic foreign exchange market to trades of the ringgit against the renminbi. The bank said it was only one of three banks and the only foreign bank market marker for China’s sixth currency pair launched on Friday, Aug 20. HSBC China started trading the new …
Read more on The Edge

HSBC China Becomes First Foreign Bank Market Maker To Trade RMB And Ringgit
KUALA LUMPUR, August 20 (Bernama) — HSBC Bank (China) Company Ltd (HSBC China) has become the first foreign bank to be appointed a market maker to provide Malaysian ringgit liquidity as China yesterday opened its domestic foreign exchange market to trades of the ringgit against the renminbi (RMB).
Read more on Bernama

Everbright Bank Shares Climb on First Trading Day in Shanghai
China Everbright Bank Co., the lender that raised 18.9 billion yuan ($2.8 billion) in the nation’s second-largest initial public offering this year, rose as much as 13 percent on its Shanghai trading debut.
Read more on BusinessWeek

Central bank buys another $90 million to prop up dollar
The Bank of Israel bought $90 million in the foreign exchange market yesterday, a purchase that helped weaken the shekel. The dollar meanwhile rose 0.24% against the local currency to a representative rate of NIS 3.800, after starting the day with a drop of 2.4%.
Read more on Haaretz Daily

FOREX-Euro rallies in aftermath of bank stress tests
* Euro rallies in aftermath of bank stress tests * Euro investors become more bullish as day progresses * U.S. new home sales data for June a positive NEW YORK, July 26 – The euro rallied to $1.30 on Monday as relief over European bank stress tests and stronger economic data on both sides of the Atlantic gave investors less reason to be risk averse. Worries the tests weren’t strict enough still …
Read more on Reuters via Yahoo! Malaysia News

FOREX-Euro rises broadly on easing fears of bank funding
* Banks borrow 131.9 bln euros from ECB, less than expected
Read more on Reuters via Yahoo! Asia News