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Singapore became the largest center of currency trading in Asia

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2014-04-26 08:45:42 - Average daily trading volume in Singapore currency increased during the last three years by almost 50% and in the I quarter of this year amounted to 383 billion dollars Such data published by the Bank for International Settlements.

This figure is the first in the Asian region, Japan was in the lead up to this.

In the world ranking ahead of Singapore now only Britain and the United States, and the total volume of currency trading market is 6.67 trillion dollars worth noting also that the ten most traded currencies entered the Chinese yuan, which certainly is the fruit of China government, which has been actively developing its financial market and open it up to foreign investors.

More financial and banking news in Singapore available at SG Banks:

Growth in currency trading is largely due to an increase in operations with the Japanese yen. Prime Minister Shinzo Abe in April this year announced the beginning of an unprecedented scale

for their incentive program that contributed to the financial markets major adjustments.

Japanese funds are among the largest in the world and often use their currency as a funding currency. This is also the reason for the increase in trading volumes.

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