The Singapore Exchange is expanding its foreign currencies offering with the addition of renminbi-denominated securites to its stable.

Issuers listing RMB securities on the SGX will have the option of offering single or dual currency trading. Currently, the exchange accommodates the US dollar, the Hong Kong dollar and the Australian dollar.

"As the Asian gateway, we are committed to being the exchange of choice for issuers with RMB fund raising needs and for investors keen on participating in the China growth story. The initiative will also extend Singapore's position as an offshore RMB centre," said Magnus Bocker, chief executive of the Singapore Exchange.

The move is in line with the city-state's drive to become an RMB centre in Asia. The other exchange offering RMB-denominated products is the Hong Kong Stock Exchange. There are some 4,000 Chinese firms operating in Singapore, 140 of which are listed on the SGX.