Asian Exotics Find Favor With Singapore And Tokyo FX Dealers
BANKS
Trading in Southeast Asian exotics--Singapore dollars, Thai baht, Malaysian ringgit and Indonesian rupiah--has reached a daily volume of more than $1 billion per day in the Singapore foreign exchange market, dealers say. Although that figure is small by comparison to the overall $100 billion per day achieved in February, the players involved are growing (FX Week, April 19).
In Tokyo, estimates of volume are harder to come by, but sources confirm a similar trend. "The share of Asian currency
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