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NEWS UPDATES Asean Affairs   9 September 2013  
Singapore is Largest FX Centre in Asia and Third Largest Globally

According to the latest survey by the Bank for International Settlements (BIS)1, average daily foreign exchange (FX) turnover volume in Singapore grew 44% to US$383 billion in April 2013 compared with US$266 billion in April 2010. Global turnover growth in the same period was 35%. The survey ranks Singapore as the third largest FX centre globally after London and New York and the largest FX centre in Asia.

2 Average daily interest rate derivatives turnover volume in Singapore also grew 6% to register US$37 billion in April 2013, the second largest volume in Asia, behind Japan.

3 The Singapore Foreign Exchange Market Committee (SFEMC) also carries out a semi-annual FX survey of the top 30 trading banks in Singapore. This survey is conducted based on the location of the trading desks. The most recent FX survey done for the month of April 2013 recorded an average daily turnover at around US$381 billion, a 6% increase compared to the last survey in October 2012.

4 Ms Jacqueline Loh, Deputy Managing Director, MAS said, "The results of the BIS and the SFEMC surveys demonstrate Singapore's consistent standing as a key foreign exchange centre in the world and in Asia. Our growing strength in foreign exchange complements the development of capital market and asset management activities in Singapore. It will also better position our financial centre to serve the investment and risk management needs of financial institutions and corporates throughout Asia."

5 The BIS is publishing preliminary global results today ( with a detailed analysis to follow.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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