Singapore and Hong Kong increase FX trades – BIS survey
Singapore strengthens position as third largest hub, amid greater use of yuan and HKD
Singapore and Hong Kong have strengthened their positions as leading global foreign exchange hubs and their currencies have become more widely traded, according to a Bank for International Settlements survey.
The survey, published on September 30, showed that Singapore had strengthened its position as the world’s third-largest FX centre. Hong Kong also increased its share of the FX market and remained the fourth-largest centre. Hong Kong dollar and renminbi trades were higher than those reported
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