China 

China may use foreign exchange reserves to fight US financial war risk, analysts say

As the United States widens the conflict with China into the realm of finance, raising the possibility that Washington will use the US dollar payment system as a weapon, analysts are wondering whether China will shift how it uses its US$3.1 trillion in foreign exchange reserves in anticipation of extreme financial volatility. China, analysts said, may consider preparing itself against a possible US financial attack by shifting towards a more defensive stance, such as using its foreign exchange… Source link

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Hong Kong’s July foreign exchange reserves rise to a record US$448.5 billion, offering a shield against financial turmoil

Hong Kong’s hoard of foreign currencies increased 0.6 per cent to a record, bolstering the city’s defences against currency attacks and financial turmoils, as growth in the local economy slows amid unprecedented public unrest and effects of the deteriorating US-China trade war.Foreign exchange holdings, excluding gold, rose to US$448.5 billion at the end of July from US$431.9 billion a year ago, and compared with US$445.6 billion in June, according to data released by the Hong Kong Monetary… Source link

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China has ‘price to pay’ for cutting US dollar share of forex reserves, analysts say

China’s sharp reduction in US dollar asset holdings has increased the risk of its investment portfolio, analysts have said in response to a disclosure of historical data by the agency charged with managing its foreign exchange reserves.The State Administration of Foreign Exchange (Safe) on Sunday disclosed that it had cut the portion of US dollar-denominated assets in its reserves portfolio to 58 per cent in 2014, below the international average of 65 per cent and down sharply from the 79 per… Source link

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China 

How much of China’s forex reserves is in US dollars? Beijing gives up two of its best-kept secrets

Beijing has for the first time disclosed its return on investment of its foreign exchange reserves and the share of US dollar-denominated assets in the stockpile.China’s forex reserves generated an annual average return of 3.68 per cent from 2005 to 2014, according to the 2018 annual report released by the State Administration of Foreign Exchange (Safe) on Sunday. The agency did not provide more recent figures.By the end of 2014, US dollar assets accounted for 58 per cent of China’s total forex… Source link

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Vietnam 

Việt Nam’s foreign reserves hit record high $68 billion – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The sufficient foreign reserves have been a key source to support the central bank to stabilise the USD/VNĐ exchange rate. — Photo saga.vn HÀ NỘI — Việt Nam’s foreign reserves hit a record high of US$68 billion at the end of June, revealed a report from the HCM City Banking University. According to the report, foreign investment capital inflows have helped the country build up its foreign reserves to double the figure of three years ago. The sufficient foreign reserves have been a key source to help the central bank stabilise…

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China is wise to boost its gold reserves as a weaker US dollar looms and currency wars beckon

China added more gold to its foreign reserves in June, for the seventh month in succession. China’s activity may be shrewd as circumstances favour gold – international tensions, interest rates at derisory or negative levels, and the real possibility that currency wars may break out. Nor is China the only sovereign buyer of gold. “In 2018 alone, central banks bought 651 tonnes of gold, up 74 per cent compared to 2017 and the highest level since 1971,” wrote Isabelle Strauss-Kahn, a member of… Source link

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Vietnam 

PVN facing difficulties in ensuring national energy reserves – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  An oil rig at PetroVietnam’s White Lion (Bạch Hổ) oilfield. The Vietnam Oil and Gas Group contributes 20 per cent to the country’s GDP. — VNA/VNS Photo Huy Hùng HÀ NỘI — The Vietnam Oil and Gas Group (PVN) needs to set up a national energy reserve centre to deal with emergencies when there are interruptions in the supply source, said Deputy General Director of Vietnam Petroleum Institute Nguyễn Hồng Minh. Speaking at the seminar entitled ‘Ensuring National Energy – The Role of the Petroleum Industry’ held in Hà Nội…

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China 

China’s foreign exchange reserves rise faster than expected in June

China’s foreign exchange reserves rose US$18.23 billion to US$3.119 trillion in June, surpassing market expectations and the previous month’s pace of growth, according to data released on Monday.The country’s gold reserves also climbed for a seventh straight month to 61.94 million ounces, up from May’s 61.61 million ounces. Since China started buying in December, its gold reserves have risen by around 4 per cent. The value of China’s gold reserves rose to US$87.27 billion in June from US$79.83… Source link

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China 

China’s foreign reserves rebound in May, gold holdings also rise

China’s foreign exchange reserves unexpectedly rose US$6.1 billion in May to US$3.101 trillion, reversing the previous month’s decline.The rise also came as China increased its gold reserves by 1.88 per cent to US$79.8 billion last month, according to central bank data released on Monday. The country’s gold reserves had risen in January and February before enduring two months of decline.Economists polled by Reuters had forecast China’s foreign reserves would fall by US$5 billion to US$3.09… Source link

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Vietnam 

Central bank buys $8.35 billion to build foreign reserves – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

It is estimated Việt Nam’s foreign reserve hit some $67.35 billion. – VNA/VNS Photo HÀ NỘI — The State Bank of Việt Nam (SBV) bought US$8.35 billion from credit institutions between the beginning of this year and April 17 to build up the nation’s foreign reserve. According to report recently sent by the SBV to the National Assembly’s Economic Committee, SBV said the USD/VNĐ exchange rate and the foreign exchange market was relatively stable while the liquidity of the market was also good in the first four months of the year.…

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