Singapore Benefits from Yuan Market

The use of China’s currency, the yuan, has grown exponentially in recent years. It is now the seventh most-used currency for global payments.

Processing those payments is big business, which is why the world’s major financial centres are racing to grab a slice of China’s fast-growing foreign exchange market.

According to new data, Singapore has overtaken London as the world’s second-largest clearing centre for the yuan, behind Hong Kong.


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.