Monetary Authority of Singapore Annual Report 2012/2013

A ROBUST FINANCIAL CENTRE

Asian Dollar Market

The Asian Dollar Market posted robust growth in 2012. Total foreign currency lending in Singapore increased by 7.4% y-o-y. In particular, non-bank loans to East Asia grew strongly at 8.3%, underpinned by economic performance in China and Hong Kong. Non-bank lending to ASEAN also grew at a healthy 5%. Going forward, we expect growth in the Asian Dollar Market to be sustained on the back of steady growth of the Asian region. With the launch of the offshore RMB market in Singapore in May 2013, the Asian Dollar Market is also well positioned to capture growing RMB flows in the region.