Shanghai has expanded its foreign currency exchange services to all 16 districts, including airports, hotels, and commercial areas. The city is aiming to provide convenient and diverse exchange options for international visitors, with a network of franchised institutions, agencies, ATMs, and self-service machines. Shanghai also offers digital RMB services and accepts a wide range of currencies, including those from countries along the Belt and Road initiative.
The Japanese Yen (JPY) has experienced a surge in value, reaching a daily high of 154.94. This notable increase has not gone unnoticed by Japanese authorities, who are monitoring the situation closely. Market analysts believe that the JPY’s rally could potentially overshadow other market developments, making it the primary focus of trading activity today.
In this interview, Joey Chew, HSBC’s head of Asia FX Research, shares insights into the outlook for the currency and monetary policy in Asia. Chew discusses the impact of the COVID-19 pandemic, the global economic recovery, and the geopolitical tensions in the region. He also provides his views on the potential for a stronger US dollar and the implications for Asian currencies. This article is essential reading for anyone interested in the latest developments in the Asian currency markets.
