The local currency lags behind it with a share of 10.6%.
This chart from the Monetary Authority of Singapore shows that US dollars remained as the primary currency of issuance, as it accounted to 76.5% of total issuance volumes in 2017.
Following the US dollar, the Singaporean dollar placed second in the largest currency issuance, with a share of 10.6%.
MAS noted that many issuers also issued multiple currencies, as in the case of Nomura International Funding which issued over $4.9b in 12 different foreign currencies, including euros, Korean won, and Australian dollars.
In total, non-SGD debt issuance accounted for 89.4% or $232b of total debt issuances in 2017.
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