Royal Bank Of Canada Consolidates Asian Forex Trading In Singapore

BANKS

The Royal Bank of Canada (RBC) has completed reorganisation of its foreign exchange trading in North America and Asia with Singapore now the bank's "de facto base for forex trading in Asia," according to David Gibbins, RBC's vice president of foreign exchange, Americas (FX Week, February 28).

RBC last month reported foreign exchange gains of C$64 million for its fiscal 1994 third quarter, compared with C$69 million a year ago and C$66 million last quarter. For the nine months ended July 31,