Singapore is largest FX trading center in Asia

Reading Time: 1 minute

forex tradingSingapore has been ranked the largest foreign exchange center in Asia, overtaking Japan, and the 3rd largest in the world in 2013, after London and New York, according to the latest survey by the Bank of International Settlements (BIS).

Singapore’s average daily FX turnover volume grew 44 per cent to $383 billion in April 2013, compared with $266 billion in April 2010. Global turnover growth in the same period was 35 per cent.

The city’s currencies trading expanded as the government offered incentives to boost its financial markets, which also led to a surge in the nation’s fund management industry, where more than 500 asset managers oversee about $1.1 trillion.

Foreign exchange trading worldwide surged to an average $5.3 trillion a day in April 2013, boosted by greater yen volumes, the BIS said. Trading increased 33 per cent since the same period in 2010. The yen had the biggest jump in trading activity among major currencies, while the euro’s role as the 2nd-most traded currency was reduced. The yuan was the 9th-most traded currency, up from 17th three years earlier, according to the BIS.

Most traded currencies by value (September 2013)

1. United States dollar USD ($)
2. Euro EUR (€)
3. Japanese yen JPY (¥)
4.  Pound sterling GBP (£)
5. Australian dollar AUD ($)
6. Swiss franc CHF (Fr)
7. Canadian dollar – CAD ($)
8. Hong Kong dollar HKD ($)
9. Chinese Yuan Renminbi – CNY (¥)
10. Swedish krona SEK (Kr)
11. New Zealand dollar NZD ($)
12. South Korean won KRW (₩)
13. Singapore dollar SGD ($)
14.  Norwegian krone NOK (kr)
15. Mexican peso MXN ($)

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

Reading Time: 1 minute

Singapore has been ranked the largest foreign exchange center in Asia, overtaking Japan, and the 3rd largest in the world in 2013, after London and New York, according to the latest survey by the Bank of International Settlements (BIS).

Reading Time: 1 minute

forex tradingSingapore has been ranked the largest foreign exchange center in Asia, overtaking Japan, and the 3rd largest in the world in 2013, after London and New York, according to the latest survey by the Bank of International Settlements (BIS).

Singapore’s average daily FX turnover volume grew 44 per cent to $383 billion in April 2013, compared with $266 billion in April 2010. Global turnover growth in the same period was 35 per cent.

The city’s currencies trading expanded as the government offered incentives to boost its financial markets, which also led to a surge in the nation’s fund management industry, where more than 500 asset managers oversee about $1.1 trillion.

Foreign exchange trading worldwide surged to an average $5.3 trillion a day in April 2013, boosted by greater yen volumes, the BIS said. Trading increased 33 per cent since the same period in 2010. The yen had the biggest jump in trading activity among major currencies, while the euro’s role as the 2nd-most traded currency was reduced. The yuan was the 9th-most traded currency, up from 17th three years earlier, according to the BIS.

Most traded currencies by value (September 2013)

1. United States dollar USD ($)
2. Euro EUR (€)
3. Japanese yen JPY (¥)
4.  Pound sterling GBP (£)
5. Australian dollar AUD ($)
6. Swiss franc CHF (Fr)
7. Canadian dollar – CAD ($)
8. Hong Kong dollar HKD ($)
9. Chinese Yuan Renminbi – CNY (¥)
10. Swedish krona SEK (Kr)
11. New Zealand dollar NZD ($)
12. South Korean won KRW (₩)
13. Singapore dollar SGD ($)
14.  Norwegian krone NOK (kr)
15. Mexican peso MXN ($)

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid