Singapore is generally regarded as a safe haven for investors in Asia, and is therefore an attractive hub for foreign currencies. Photo: Reuters

In Singapore, foreign currency worth record US$19.2 billion deposited in April, due to Covid-19, HK protests and trade war

  • Since 2015, the value of foreign currency deposits hovered between US$5 billion and US$6.5 billion before rising sharply last July and then consistently increasing
  • Currency fluctuations in emerging markets, such as Indonesia and China, may also have triggered some capital flight to Singapore
Topic |   Singapore
Singapore is generally regarded as a safe haven for investors in Asia, and is therefore an attractive hub for foreign currencies. Photo: Reuters
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