atans1

London trashes S’pore

In China, Currencies on 12/04/2019 at 4:45 am

Not reported by constructive, nation-building media. Not unusual. But anti-PAP alt media is silent too. Why? Sad.

According to Swift , the payments company, more than 36% of renminbi transactions were carried out in the UK in December last year, compared with about 6% each in France and Singapore.

Tot PAP govt said we had plans to be a leading off-shore renminbi trading centre.

What went wrong? After all we are already a leading global FX trading centre.

 

  1. Did mention this in FB. Goes to show proximity is no advantage in global markets, neither can beggar thy neighbor get you far. But a pertinent question here is how much have the FX markets in SG been “polluted” by FTs from the sub-continent.

    • Whatever happened to rule “No Indians in dealing room”?. Not racism but because Indians in dealing room meant losses. Knew a gal analyst in JP Morgan. She brought an Indian into dealing room. JP Morgan S’pore lost a lot of money that day.

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