Search results for FX hedging
Fintech
Shinhan Bank secures first FX deal with Green Climate Fund worth $200 million
Shinhan Bank secured the Green Climate Fund\'s first foreign exchange derivatives transaction since the fund was established. The bank said it signed an FX derivatives deal worth about $200 million with the GCF on Aug. 6. The deal expands cooperation between the two from investment to foreign exchange. The GCF began an FX hedging programme using derivatives to reduce volatility in the value of contributions received in multiple currencies.
Finance
Korea FX market goes 24 hours, putting brokerage risk management to test
South Korea’s onshore won-dollar foreign exchange market shifts to 24-hour trading from July 6, allowing exchange rates to adjust overnight to global events and U.S. data. Authorities and the Bank of Korea expect better access for foreign investors as won funding and FX become available in New York and London hours. Brokerages face demands for overnight currency conversion, tighter foreign-currency position management and stronger dealing, systems and staffing.
Finance
FX stabilisation bills pass parliament; tax exemption up to 100 percent for return to Korean stock market by May
South Korea\'s parliament on Monday passed a package of tax bills dubbed the \"three bills for exchange rate stability\" under a bipartisan agreement. Under the revisions, individual investors can receive up to a 100 percent deduction on capital gains tax if they invest proceeds from selling overseas shares through a return-to-domestic-market account, or RIA, in the local stock market for one year. The deduction rate declines for later sales, and a new tax break applies to FX hedging derivatives.
