Singapore Posts Trading Growth as Asia’s Top FX Center
Further growth in daily trading volume led Singapore to bolster its position as Asia’s leading foreign exchange center.
Singapore’s foreign exchange (FX) average daily trading volume reached nearly $1.49 trillion in April 2025, according to a statement by the local regulator citing the 2025 Triennial Central Bank Survey of the global FX and over-the-counter derivatives market conducted by the Bank for International Settlements. This marks a 60 percent increase compared to April 2022.
Trading was led by major currencies, including the US dollar, Japanese yen, and Euro, which saw volumes grow between 36 percent and 65 percent during the same period. The Chinese renminbi and Australian dollar also saw increases.
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Singapore was the FX leader in Asia by trading volume and third worldwide, behind the US and UK. The city-state's share of global FX volumes rose to 11.8 percent in April 2025, from 9.5 percent in April 2022.
«Singapore’s FX volumes saw strong growth, driven by deeper liquidity in the Asian time-zone to support economic and hedging needs in the region,» said Lim Cheng Khai, executive director of the Monetary Authority of Singapore’s financial markets development department.
«Broad-based growth across major and regional currencies, as well as FX instruments, reflects Singapore’s continued role as a trusted and efficient price discovery hub. This reinforces Singapore’s position as a gateway for global investors into Asia’s fast-evolving economies and financial markets.»
