Singapore has overtaken Japan as Asia's biggest Fx centre for the first time, and risen to the third place
globally(behind London and New York) in the latest survey by the Bank for International Settlements.
Average daily FX turnover volume in Singapore grew 44% to US$383 billion in April 2013, compared
with US$266 billion in April 2010.
Global turnover growth in the same period was 35%.
Average daily interest rate derivatives turnover volume in Singapore also grew 6% to US$ 37 billion
in April 2013,the second largest in Asia,behind Japan.
Jaquelin Loh deputy managing director at the Monetary Authority of Singapore,said the ranking positions Singapore's financial centre to better serve the investment and risk management needs of financial institutions and corporates throughout Asia.
Source ABCHINA Edition
globally(behind London and New York) in the latest survey by the Bank for International Settlements.
Average daily FX turnover volume in Singapore grew 44% to US$383 billion in April 2013, compared
with US$266 billion in April 2010.
Global turnover growth in the same period was 35%.
Average daily interest rate derivatives turnover volume in Singapore also grew 6% to US$ 37 billion
in April 2013,the second largest in Asia,behind Japan.
Jaquelin Loh deputy managing director at the Monetary Authority of Singapore,said the ranking positions Singapore's financial centre to better serve the investment and risk management needs of financial institutions and corporates throughout Asia.
Source ABCHINA Edition
