Forex (FX) Market – A Snapshot
The foreign exchange market represents global trade and economic activity and is the world’s biggest financial market, and had been growing steadily for decades. Moreover, it is the most liquid market in the world.
Turnover in over-the-counter (OTC) FX markets averaged $7.5 trillion per day in April 2022
(1 trillion = 1,000,000,000,000)
As per the Triennial Central Bank Survey published by the Monetary and Economic Department of the Bank for International Settlements (BIS) in October 2022, the world’s largest foreign exchange market is based in London, the capital of the United Kingdom. 38.1% of all foreign exchange market turnover is made in London followed by the United States (19.4 %), Singapore (9.4%), Hongkong SAR (7.1%) and Japan (4.4%).
Foreign Exchange turnover in the largest trading centres:
Geographical Share of Foreign Exchange Turnover:
Courtesy – BIS, Bank of England.
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