Swiss National Bank has opened a branch in Singapore, becoming the first non-Asian central bank with operations in the city-state as it seeks to better manage its portfolio of assets denominated in the region’s currencies.
The move by the Swiss national bank on Thursday is a sign of the growing importance of Singapore – often dubbed “the Switzerland of Asia” – as a base for asset and wealth managers.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.