Singapore, HK Battle for FX Dominance

Singapore remains Asia's largest forex hub, with $633 billion in daily turnover. The city-state is investing in electronic trading to maintain its lead over Hong Kong. Major banks like UBS and JP Morgan are enhancing their trading engines in Singapore. The Monetary Authority aims to attract more players to the market. Singapore is also capitalizing on Asia's $22 trillion wealth market, focusing on family offices. The most traded currencies include the US dollar, Aussie dollar, and Singapore dollar, with emerging market currencies like the South African Rand gaining traction.

What is Singapore's strategy to maintain its position as Asia's largest foreign exchange hub?

• Increasing tourism

• Reducing foreign investments

• Focusing on electronic trading

• Investing in agriculture

Which sector is Singapore targeting as part of its growth strategy in the wealth market?

• Retail businesses

• Technology startups

• Family offices

• Manufacturing industries

What is a key factor driving Singapore's strategy in the wealth market?

• Rising unemployment rates

• Declining foreign investments

• Increasing need to move money

• Decreasing global wealth

Which of the following is NOT one of the most traded currencies in Singapore?

• Australian Dollar

• US Dollar

• Euro

• Indian Rupee

Which emerging market currencies are gaining popularity in Singapore?

• Russian Ruble and Chinese Yuan

• Turkish Lira and Indonesian Rupiah

• South African Rand and Mexican Peso

• Brazilian Real and Indian Rupee