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Singapore central bank executive to chair global forex body

BY Reuters | ECONOMIC | 04:31 PM EDT

By Fergal Smith

TORONTO, June 5 (Reuters) - The Global Foreign Exchange Committee, which is responsible for maintaining the FX Global Code, said on Friday that Bernard Wee, assistant managing director at the Monetary Authority of Singapore, has been appointed its new chair, taking over from Gerardo Garcia.

* The FX Global Code is a set of good market practices for the global foreign exchange market.

* The GFXC, which held its annual meeting in Toronto on Thursday and Friday, acts as a forum for central banks and private sector participants.

* Its membership includes central bank-sponsored foreign exchange committees globally.

* Wee's role at the MAS includes overseeing the investment of Singapore's official foreign reserves. (Reporting by Fergal Smith; Editing by Cynthia Osterman)

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