A recent survey ranks Singapore as the fourth largest foreign exchange center in the world and the second largest foreign exchange center in Asia, after Tokyo, the Monetary Authority of Singapore said on Wednesday.
According to the latest survey by the Bank for International Settlements (BIS), average daily foreign exchange turnover in Singapore was 266 billion U.S. dollars during April 2010 compared to 242 billion U.S. dollars in April 2007.
Average daily turnover in over-the-counter (OTC) interest rate derivatives was 78 billion U.S. dollars in April 2010, 37 percent higher than the 57 billion U.S. dollars recorded in April 2007. The survey ranks Singapore as sixth largest center globally, up from seventh position in 2007 and underscores Singapore's development as a key derivatives trading center in Asia.
According to the latest survey by the Bank for International Settlements (BIS), average daily foreign exchange turnover in Singapore was 266 billion U.S. dollars during April 2010 compared to 242 billion U.S. dollars in April 2007.
Average daily turnover in over-the-counter (OTC) interest rate derivatives was 78 billion U.S. dollars in April 2010, 37 percent higher than the 57 billion U.S. dollars recorded in April 2007. The survey ranks Singapore as sixth largest center globally, up from seventh position in 2007 and underscores Singapore's development as a key derivatives trading center in Asia.
