BIS Survey 2016: Singapore 3rd largest forex trading centre
Results of Triennial Central Bank Survey
Singapore increased her market share as 3rd largest foreign exchange trading centre in the world and largest in Asia Pacific. Singapore was in 4th spot in the 2010 survey, displaced Japan in 2013. UK and US retains 1st and 2nd spots respectively, Japan and Hong Kong remains in 4th and 5th.
Some notable findings:
- Top currency pairs traded are USDEUR, USDJPY, USDGBP, USDAUD, USDCAD and USDCNY.
- USDSGD and USDNZD takes 9th and 10th spot.
- USDGBP, USDCAD, USDCNY and USDSGD increased their market shares while USDEUR, USDJPY and USDAUD lost. USDNZD market share remains unchanged.
- SGD market share moved up to 12th spot. It was 15th placed in 2013.
- CNY market share moved up to 8th spot. It was 9th placed in 2013.
- Turnover in global FX markets averaged 5.1 trillion in 2016.
- EUR has done poorly in the last 2 surveys. It’s market share was 39% in 2010, 33% in 2013 and 31% in 2016.
- This year’s BIS survey results can be reached here.
- Media release by Monetary Authority of Singapore can be reached here.
- Some findings of 2013 survey can be reached here.