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Matthias Knab, Opalesque:

The Monetary Authority of Singapore (MAS) announced today that Singapore's foreign exchange (FX) average daily trading volumes (ADTV) rose to US$1.485 trillion in April 2025, increasing by 60% from April 2022.

Singapore strengthened its position as the third largest FX centre in the world, after the UK and the US, with its share of global FX volumes rising to 11.8% in April 2025, from 9.5% in April 2022. These figures were released yesterday in the 2025 Triennial Central Bank Survey of the global FX and over-the-counter (OTC) derivatives market conducted by the Bank for International Settlements (BIS).

Singapore's FX ADTV growth was broad-based across the major currencies, led by the US dollar, Japanese yen, and Euro which registered trading volume increases of between 36% and 65% from 2022 to 2025. There were also increases in trading volumes of the Chinese renminbi and Australian dollar.

Volumes in FX spot, forwards and swaps - which together accounted for 90% of Singapore's turnover - rose by between 42% and 61% from 2022 to 2025.

Singapore's OTC interest rate derivatives volumes averaged US$208 billion per day in April 2025, representing an increase of 33% from April 2022. US dollar, Japanese yen, and Australian dollar interest rate derivatives were the most actively traded in the Singapore market.

Mr Lim Cheng Khai, Executive Director of MAS' Financial Markets Development Department, said, "Singap......................

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