More rankings: Singapore world’s 4th largest FX center
Since it’s rankings fever round here lately, here’s the latest: Singapore is the world’s fourth largest foreign currency exchange center by turnover volume, and the second largest in Asia behind Tokyo.
The Bank for International Settlements did the survey in April 2010 and compared the figures to one in April 2007. It showed Singapore’s average daily FX turnover volume was US$266 billion, up from $242 billion in 2007. It also came 6th in the world for daily turnover in over-the-counter (OTC) interest rate derivatives at US$78 billion; 37% higher than when it took 7th place in the last survey.
source & article: Straits Times
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