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.
SNB has a portfolio of about SFr50bn in assets denominated in four Asian currencies: the Japanese yen, Korean won and the Singapore and Australian dollars. That is about double its share of Asian currencies as a proportion of total reserves compared with 2007.
您已閱讀35%（662字），剩余65%（1224字）包含更多重要信息，訂閱以繼續探索完整內容，并享受更多專屬服務。