Singapore’s foreign exchange (FX) market has strengthened its position as the third-largest global FX centre, following the UK and the US. According to data from the Monetary Authority of Singapore (MAS), the country’s FX market recorded an average daily trading volume of US$1.485 trillion in April 2025. This marks a significant increase from previous years, underscoring Singapore’s growing prominence in the global FX landscape.
The MAS attributes this growth to several factors, including the country’s robust financial infrastructure, stable regulatory environment, and strategic location as a financial hub in Asia. Additionally, Singapore’s commitment to innovation and technological advancements in the financial sector has attracted a diverse range of market participants.
Industry experts have noted that Singapore’s strengthened position in the global FX market enhances its competitiveness and resilience in the face of global economic uncertainties. The country’s ability to adapt to changing market dynamics and maintain investor confidence has been pivotal in its ascent in the global FX rankings.
Looking ahead, the MAS remains focused on sustaining this growth trajectory by fostering innovation, enhancing market liquidity, and ensuring a conducive regulatory environment. These efforts aim to further solidify Singapore’s status as a leading global FX centre.
