search query: @indexterm Foreign exchange / total: 493
reference: 172 / 493
| Author: | |
| Title: | Where foreign means foreign |
| Journal: | Euromoney
1994 : SEP, p. 23-27 |
| Index terms: | FOREIGN EXCHANGE FINANCE SINGAPORE |
| Language: | eng |
| Abstract: | The foreign exchange market, the bright star in Singapore's financial galaxy, trades 100 billion US Dollars on an average day. This is equivalent to twice the size of the island's GDP for 1993, and more than 10 times its capital account balance. Singapore's foreign exchange reserves, about 49.5 billion US Dollars, are based externally and may have little to do with the volume of trade. One central bank official thinks the training of a pool of dealers in the 1970s and 1980s had cultivated the commitment to produce a market of this size. |
SCIMA