Singapore as India’s financial hub? | Business Line

Singapore as India’s financial hub? | Business Line



Excerpts:

"The city-state could play a key role should India decide to internationalize its currency. Allowing companies to sell offshore rupee debt can be seen as a first small step toward convertibility. A well-established international currency market, Singapore’s experience as a key offshore yuan market will be valuable in replicating the success for greater offshore use of rupee. As of June 2015, Singapore’s accumulation of 322 billion yuan deposits made it one of the three biggest yuan offshore centres. It is also among the top three cross-border yuan settlement hubs."

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M G Warrier

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