Singapore FX Market Participants Say Future Depends On Regionals

BANKS

Banks in Singapore appear to be undergoing a similar consolidation to those of their counterparts in London and New York, as volatility in the G7 currencies dwindles, say sources in the city-state. However, market participants add that if banks have already made the Asian regional currencies their focus, they may weather the storm and come out poised for future growth.

Singapore's stature as the regional hub of choice among the majority of international banks is likely to remain the case, the