Global Currency Trading Surges to $6.6 Trillion-A-Day Market
- BIS publishes triennial report on foreign-exchange industry
- Daily volume rises 29%, led by swaps and derivatives growth
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Trading in the global foreign-exchange market has jumped to the highest-ever level at $6.6 trillion, according to the Bank for International Settlements.
The average daily trading in April was up 29% from $5.1 trillion in the same month in 2016, the BIS reported Monday in a triennial survey on the industry. The growth of FX derivatives trading, primarily swaps, outpaced the spot market and now accounts for almost half of global FX turnover.