Singapore beats Japan as Asia's top foreign-exchange hub

Its average daily FX volume jumped 44%.

According to a report by Bloomberg, Singapore overtook Japan as Asia’s biggest foreign-exchange center for the first time as trading surged in the past three years, the city’s central bank said, citing a survey by the Bank for International Settlements.

The city’s average daily foreign-exchange volume increased 44 percent to $383 billion as of April from $266 billion in the same month in 2010, the Monetary Authority of Singapore said in a statement yesterday. The average interest-rate derivatives volume climbed 6 percent to $37 billion over the same period, the highest in the region after Japan, it said.

Read full report here.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!