CFO News Room

FEBRUARY 4, 2022

The country’s foreign exchange reserves declined by USD 4.531 billion to stand at USD 629.755 billion in the week ended January 28, RBI data showed on Friday. In the previous week ended January 21, the reserves had decreased by USD 678 million to USD 634.287 billion.

Foreign Exchange 130

Foreign Exchange Currencies Accounting Banking 130

CFO News

DECEMBER 2, 2022

Expressed in dollar terms, FCA consists of the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. However, gold reserves fell $73 million to $39.94

Foreign Exchange 52

Foreign Exchange Currencies 52

CFO News

NOVEMBER 25, 2024

The Reserve Bank of India has substantially increased its gold reserves, offsetting foreign investment outflows. The RBI's gold purchases have contributed to a rise in overall foreign exchange reserves and are expected to continue.

Foreign Exchange 45

Foreign Exchange Banking Investments 45

Global Finance

OCTOBER 29, 2024

In particular, foreign-exchange and interest-rate risks may be significant when entering a lower-rated jurisdiction with a more volatile macroeconomic backdrop.” In May, Fitch Ratings cautioned banks in the six-member Gulf Cooperation Council (GCC) about unchecked growth plans.

Profit and Loss 64

Profit and Loss Foreign Exchange Forecasting Banking 64

PYMNTS

SEPTEMBER 20, 2020

Isabel Group CEO Jean de Crane said the new partnership "will add value to our mutual business customers in the processing of their payments and foreign exchange strategies. We are looking forward to working together with this international player in our ecosystem.".

Foreign Exchange 120

Foreign Exchange B2B Currencies Banking 120

PYMNTS

FEBRUARY 4, 2020

Visa has announced that it will sell cross-border payments company Earthport’s foreign exchange (FX) business to Pollen Street Capital’s Currency Holdings, according to a report. Visa, which acquired Earthport in May 2019, said the sale will help to speed up Earthport’s growth of its larger core payments business.

Foreign Exchange 100

Foreign Exchange Treasury Currencies B2B 100

PYMNTS

NOVEMBER 3, 2020

Statrys is a payment offering is targeted to small and medium-sized businesses (SMBs), entrepreneurs and upstarts that need flexible banking and developed foreign exchange offerings that can let them expand around the world.

Foreign Exchange 105

Foreign Exchange Currencies Finance Accounting 105

PYMNTS

SEPTEMBER 17, 2020

Flywire will work with Mastercard to provide discounted foreign exchange rates on cross-border tuition payments for students, according to a press release emailed to PYMNTS.

Foreign Exchange 126

Foreign Exchange Education Reconciliations Currencies 126

PYMNTS

JANUARY 18, 2021

Companies that have long been involved in importing or exporting goods — especially those with international operations — identify foreign exchange (FX) management to be a major source of risk, given the large fluctuations in exchange rates.

Foreign Exchange 127

Foreign Exchange Treasury Risk Management Corporate Finance 127

CFO News

MAY 21, 2023

In March 2023, ED initiated a probe against BBC India for FDI cap breach under the Foreign Exchange Management Act (FEMA). This article by Makarand Joshi, Founding Partner, MMJC and Associates LLP delves into the the question can ministry clarifications via circulars override regulations?

Foreign Exchange 95

Foreign Exchange 95

PYMNTS

JUNE 15, 2020

Companies will also have to worry less about risk because of the better visibility and control over foreign exchange payments and currency exposures for procurement and treasury stakeholders.

Foreign Exchange 99

Foreign Exchange Treasury Currencies B2B 99

PYMNTS

JANUARY 21, 2020

Cross-border peer-to-peer (P2P) payments firm MoneyGram has teamed up with foreign exchange and global money transfer company LuLu Money , MoneyGram announced on Tuesday (Jan.

Foreign Exchange 100

Foreign Exchange Investments Accounting Marketing 100

PYMNTS

SEPTEMBER 20, 2020

FLEETCOR , which works in global business payments, announced that it had reached an agreement to acquire cross-border payment firm Associated Foreign Exchange (AFEX) to help boost its own payments network, a press release says.

Foreign Exchange 121

Foreign Exchange Currencies Accounting Investments 121

PYMNTS

JANUARY 15, 2019

HSBC is increasingly relying on blockchain technology to facilitate its foreign exchange trading services, reports in Financial Times said Monday (Jan. 14), with more than three million FX transactions having already been processed by the bank in the past year via blockchain.

Foreign Exchange 76

Foreign Exchange Currencies Treasury Banking 76

PYMNTS

OCTOBER 23, 2018

Bank of America Merrill Lynch (BofA Merrill) is introducing a new solution for other financial institutions (FIs) in the interbank payment system to automate foreign exchange (FX) conversion.

Foreign Exchange 76

Foreign Exchange Banking Currencies Compliance 76

Global Finance

JANUARY 9, 2025

Key features include secure global remittance networks, same-day express transfers to BEA Hong Kong accounts, foreign currency time deposits, and real-time foreign exchange services in 11 currencies.

Foreign Exchange 52

Foreign Exchange Currencies Banking Investments 52

PYMNTS

OCTOBER 8, 2019

Citi has recruited foreign exchange management firm Kantox to enhance its FX services for corporate clients, the companies said in a press release on Monday (Oct. enabling those firms to access a custom platform that integrates with Citi’s existing foreign currency payments solution.

Foreign Exchange 74

Foreign Exchange Treasury Currencies Banking 74

PYMNTS

SEPTEMBER 21, 2020

billion, and FLEETCOR has come to an arrangement to purchase cross-border payment company Associated Foreign Exchange (AFEX). Global business payments firm FLEETCOR has struck a deal to buy Associated Foreign Exchange (AFEX) to assist in bolstering its own payments network.

Foreign Exchange 89

Foreign Exchange Banking Nonprofit Valuation 89

PYMNTS

NOVEMBER 21, 2018

businesses are over-exposed to risks related to interest rate and foreign exchange volatility, according to new Citizens Bank research. corporates have raised concerns over the negative impact that foreign exchange volatility might have on profits, particularly as ongoing global trade disputes impact the FX markets.

Foreign Exchange 67

Foreign Exchange Banking Valuation Currencies 67

PYMNTS

AUGUST 6, 2020

The companies recently announced that Airwallex will wield Deutsche Bank’s foreign exchange (FX) services and integrate them via API into its own offering.

Banking 110

Banking Foreign Exchange Accounts Payable Technology 110

Global Finance

JULY 22, 2024

JP Morgan recognitions throughout 2024 World’s Best Investment Banks 2024—Global Winners GW Platt Foreign Exchange Bank Awards 2024—Global, Regional And Country Winners World’s Best Private Banks 2024—North America The post JP Morgan – World’s Best Bank 2024 appeared first on Global Finance Magazine.

Banking 98

Banking Foreign Exchange Finance Investments 98

CFO News

JANUARY 19, 2024

The 3-day variable rate repo (VRR) auction conducted by the RBI on Friday, which is scheduled to reverse on January 22, will now be reversed on January 23. Meanwhile, a 3-day VRR auction that the RBI had earlier said would be conducted on January 22 stands cancelled and instead a 2-day VRR auction will be carried out on January 23.

Foreign Exchange 52

Foreign Exchange Marketing 52

PYMNTS

JULY 10, 2019

Businesses can pay invoices immediately or dictate a payment date while retaining a fixed foreign exchange rate when they upload an invoice to the platform. Custom remittance information can be sent directly back to the foreign vendor, while the service also supports custom reporting for a buyer’s own back-office processes. “A

Foreign Exchange 64

Foreign Exchange Accounts Payable Invoicing Reconciliations 64

PYMNTS

JUNE 19, 2020

In an effort to provide complete management of foreign exchange risk, financial solutions provider Profile Software rolled out its Acumen net eFX offering. In separate news, BNP Paribas , the French financial institution, unveiled a FinTech partnership to bolster its foreign exchange service offerings per news in September.

Risk Management 64

Risk Management Foreign Exchange Treasury Banking 64

PYMNTS

MARCH 26, 2020

Western Union will use Integral’s technology for its electronic foreign exchange (eFX) risk management technology across the Western Union Business Solutions program. Western Union recently partnered with Integral for a new risk management mechanism called Integral BankFX.

Foreign Exchange 114

Foreign Exchange Currencies Risk Management Technology 114

Global Finance

OCTOBER 10, 2024

GF: Mongolia’s foreign exchange reserves increased last year and external debt was reduced. Lkhagvasuren: As of July 2024, Mongolia’s foreign exchange reserves reached $4.7 Despite repaying 6 billion Chinese yuan [$843 million] of the swap usage, foreign exchange reserves remained robust.

Restructuring 75

Restructuring Foreign Exchange Banking Transportation 75

PYMNTS

DECEMBER 28, 2018

The Central Bank of the Russian Federation (CBR) announced that it has revoked the licenses of five Russian foreign exchange (FX) trading companies. The five companies — Forex Club, Alpari Forex, Trust Forex, InstaForex and TeleTrade — will see their licenses expire on Jan.

Foreign Exchange 87

Foreign Exchange Banking Compliance Securities 87

PYMNTS

AUGUST 7, 2020

One of the largest points of friction that shoppers grapple with today is the ever-fluctuating exchange rate of foreign currencies they use when purchasing from sellers across borders.

Foreign Exchange 120

Foreign Exchange eCommerce Retail Currencies 120

Global Finance

DECEMBER 6, 2024

High inflation, currency volatility, and foreign exchange scarcity have eroded wealth and significantly contributed to a decline in net worth for many people. Wealth preservation and growth in Africa are highly challenging. The affluent know this too well, especially given the recent macroeconomic environment.

Banking 52

Banking Foreign Exchange Currencies Investments 52

PYMNTS

JULY 6, 2020

London-based global payments and foreign exchange company moneycorp has announced its expansion into Canada. The expansion into Canada comes a little less than a year since moneycorp acquired Rochford Group , an Australian treasury advisory company, which, in addition to offices Down Under, also had an office in Hong Kong as well.

Currencies 79

Currencies Foreign Exchange Risk Management Treasury 79

PYMNTS

APRIL 9, 2020

Travelex, the foreign exchange company that was crippled by hackers on New Year’s Eve, reportedly paid a $2.3 million ransom to get their systems back online, The Wall Street Journal reported. Sodinokibi, the alleged perpetrators of the cyberattack, claimed responsibility for the breach.

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Foreign Exchange Numbers Securities Sales 111

Global Finance

SEPTEMBER 3, 2024

It will now have to convert the local currency raised from domestic lenders to foreign exchange in order to buy these inputs. This means that there will be an initial outflow of forex to purchase inputs and an eventual inflow of forex when the cocoa is sold,” Esterhuysen says. “My

Foreign Exchange 75

Foreign Exchange Currencies Education Manufacturing 75

Simply Treasury

JUNE 3, 2021

Fortunately, there are solutions that allow for a more dynamic and efficient management of foreign exchange risks and their hedging, in a world of economic upheaval that can pose problems of timing and therefore hedging efficiency. It is an art, and it requires to be well organized to avoid any problem and impact the results.

IFRS 130

IFRS Foreign Exchange Currencies Profit and Loss 130

PYMNTS

DECEMBER 10, 2020

The financial institution or corporate client gets transparency into fees and foreign exchange rates as well as visibility of payment settlement. 10) press release. Customers can make payments via Bank of America’s SWIFT gpi solution.

Foreign Exchange 104

Foreign Exchange Banking Treasury Compliance 104

PYMNTS

MARCH 16, 2020

Risk will be less of an issue because of the increase in transparency and tighter control on foreign exchange payments, along with the currency exposures for those with stake in procurement and treasury.

SAP 99

SAP Foreign Exchange Reconciliations Currencies 99

Global Finance

OCTOBER 11, 2024

Previously announced honors include Best Global Transaction Bank, Best Bank for Sustainable Finance, Best Islamic Financial Institution, Best Investment Bank, Best Cash Management Bank, Best Trade-Finance providers, Best Supply Chain Finance providers, Best Foreign Exchange Provider, Best Private Bank, and Best SME Bank.

Banking 111

Banking Foreign Exchange Profit and Loss Finance 111

PYMNTS

AUGUST 11, 2020

Founded in 2015, Revolut began by offering prepaid debit cards that allowed users to avoid foreign exchange fees while traveling abroad. Other investors included Menlo Park, California-based TCV and Index Ventures , the global venture capital firm with dual headquarters in San Francisco and London, along with half a dozen others.

Profit and Loss 95

Profit and Loss Foreign Exchange Startups Banking 95