SINGAPORE: A recent survey ranks Singapore as the fourth largest foreign exchange centre in the world and the second largest foreign exchange centre in Asia, reports China's Xinhua news agency quoted the Monetary Authority of Singapore as saying on Wednesday, Sept 1.
According to the latest survey by the Bank for International Settlements (BIS), average daily foreign exchange turnover in Singapore was US$266 billion (RM837.9 billion) in April 2010 compared to US$242 billion in same month of 2007.
Average daily turnover in over-the-counter (OTC) interest rate derivatives was US$78 billion in April 2010, 37% higher than the US$57 billion recorded in April 2007.
The survey ranks Singapore as sixth largest centre globally, up from seventh position in 2007 and underscores Singapore's development as a key derivatives trading centre in Asia. ' Bernama
According to the latest survey by the Bank for International Settlements (BIS), average daily foreign exchange turnover in Singapore was US$266 billion (RM837.9 billion) in April 2010 compared to US$242 billion in same month of 2007.
Average daily turnover in over-the-counter (OTC) interest rate derivatives was US$78 billion in April 2010, 37% higher than the US$57 billion recorded in April 2007.
The survey ranks Singapore as sixth largest centre globally, up from seventh position in 2007 and underscores Singapore's development as a key derivatives trading centre in Asia. ' Bernama
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