While foreign currency liquidity levels at local banks have remained high, the FSS wants to be able to detect signs of a future liquidity shortage early.
September 9, 2022The proposed legislation removes uncertainty regarding whether Bitcoin may be treated as a ‘foreign currency’ for income tax purposes.
September 9, 2022Banks can clear USD, GBP, EUR, CAD and JPY through the RTGS system starting from 4 September. CNY clearing will be allowed "soon".
September 2, 2022The central bank warned that serious action will be taken against online businesses that are found to be illegally buying and selling foreign currencies.
August 30, 2022The PBOC and SAFE have expanded a pilot programme that allows multinational companies to pool domestic and foreign currency funds.
July 26, 2022An exemption from requirements to convert FX into the kyat has also been reversed for companies with foreign minority ownership.
July 21, 2022India's attitudes against isolating Russia arise from its strategic interests with Moscow and a long history as a recipient of sanctions, says Mathew Chemplayil.
July 13, 2022The mechanism allows international trades to be invoiced and settled using the rupee, enabling India to buy Russian oil without US sanctions exposure.
July 13, 2022VM rules were proposed in 2020 and will now take effect from 1 December 2022. IM rules are open for comment until 29 July 2022.
June 20, 2022Myanmar is granting granted an exemption to select companies involved in FDI approved by the Myanmar Investment Commission.
June 17, 2022