Singapore Remains Largest FX Centre in Asia Pacific and Third Largest Globally
Singapore remains the largest foreign exchange centre in Asia Pacific region and third largest globally after London and New York according to the 2016 Triennial Central Bank Survey of global FX and over the counter derivatives markets by Bank for International Settlements.
“Singapore remains the largest foreign exchange centre in Asia Pacific region and third largest globally after London and New York.”
~Monetary Authority of Singapore
The average daily training volume of Singapore FX market was US$517 billion in April 2016, up 35% from US$383 billion in April 2013. Singapore share of global FX volume has also grown to 7.9% in 2016 up from 5.7% three years ago.
Related Reports: Monetary Authority of Singapore
About Bank for International Settlements
Established on 17 May 1930, the Bank for International Settlements (BIS) is the world’s oldest international financial organisation. The BIS has 60 member central banks, representing countries from around the world that together make up about 95% of world GDP. The head office is in Basel, Switzerland and there are two representative offices: in the Hong Kong Special Administrative Region of the People’s Republic of China and in Mexico City.
The mission of the BIS is to serve central banks in their pursuit of monetary and financial stability, to foster international cooperation in those areas and to act as a bank for central banks.
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