According to the statistics, these three currency pairs amount for half of global trade volume:. Altogether, the top ten currency pairs are responsible for three-quarters of all FX trades. A similar picture emerges when one considers not the currency pairs, but the single currencies. As you can see in the following pie-chart, the U.

Dollar, the Euro, the Yen or the British Pound are involved in more than three quarters of all currency transactions worldwide. As you can see from this table, significantly less important compared to USD, EUR, JPY, GBP, AUD, CHF and CAD are currencies such as the Swedish Krona or the New Zealand dollar:.

That does not mean that the minor currencies cannot be traded because that market is less liquid. Just as an example: every day, Yen and Australian dollar with equivalent of around 25 billion USD are traded. Also with this currency pair, buyers and sellers are matched within a very short time frame during an FX trade.

Please note that not all Forex brokers offer an equally large number of FX pairs. Depending on the broker, these figures can vary between about 20 and more than If you are looking for a broker where you can trade more exotic currencies online, then you should check that figure before signing up. In our table on BrokerReviews. Data are subject to revision. The final data, as well as several special features that analyse the data, will be released with the BIS Quarterly Review in December The US dollar remained the world's dominant vehicle currency.

The relative ranking of the next seven most liquid currencies did not change from Despite this decline, the yen remained the third most traded currency globally. In addition, trading in yen against several high-yielding EME currencies that are attractive for Japanese retail margin traders, albeit small relative to total JPY turnover, grew faster than the global average. Renminbi trading increased in line with aggregate market growth, so the Chinese currency did not climb in the global rankings, unlike in past surveys.

In contrast, several other Asia-Pacific currencies gained market share. Turnover in the Hong Kong dollar more than doubled relative to , and the currency climbed to ninth place in the global ranking up from 13th in The Korean won, Indian rupee and Indonesian rupiah also moved higher in the global rankings. Turning to the currencies of other EME regions, the Mexican peso and the Turkish lira were among the currencies which dropped several places in global rankings.

Graph 1: Foreign exchange market turnover by currency and currency pairs 1 Net-net basis, daily averages in April, in per cent. Source: BIS Triennial Central Bank Survey.

For additional data by currency and currency pairs, see Table 2 and Table 3 on pages 10 and 11, respectively. See our Statistics Explorer for access to the full set of published data. Turnover in FX spot markets rose in the survey, but declined as a share in global FX activity. By contrast, trading in FX swaps and outright forwards gained in market share. The bulk of turnover in FX swaps was in short-maturity instruments overnight up to seven days in April , although trading in longer tenors expanded over the past three years Table 4.

Within the various instrument categories within outright forwards, NDFs accounted for a significant share of the increase in trading between and , reflecting in particular the strong activity in Korean won, Indian rupee and Brazilian real NDF markets.

The typically long maturity of currency swaps means their average daily turnover is naturally lower than that for other instruments. Graph 2: Foreign exchange market turnover by instrument 1 Net-net basis, daily averages in April.

For additional data by instrument, see Table 1 on page 9. Inter-dealer spot turnover actually declined slightly in absolute terms relative to , whereas inter-dealer turnover in FX swaps, outright forwards and currency swaps expanded noticeably Table 4. Changes in the composition of counterparties went alongside shifts in the mix of traded FX instruments. The rise in trading with hedge funds and PTFs was mainly attributable to greater activity in outright forwards, but their trading in other instruments also increased.

Graph 3: Foreign exchange market turnover by counterparty 1. For additional data by counterparty, see Table 4 and Table 5 on pages 12 and 13, respectively. FX trading continues to be concentrated in the largest financial centres. While the ranking of these trading hubs remained unchanged from , there were changes in their relative shares in global turnover. This was mainly driven by relatively slower growth of activity in Singapore and Tokyo. Turnover in Hong Kong SAR grew at a higher rate than the global aggregate, raising its share in global turnover by one percentage point.

Several other FX trading centres also gained in prominence. Mainland China thus climbed several places in the global ranking to become the eighth largest FX trading centre up from 13th place three years previously. These semiannual surveys by FXCs in Australia, Canada, Hong Kong SAR, London, New York, Singapore and Tokyo focus on the structure of local FX markets, and there are some methodological differences compared with the Triennial Survey.

In particular, the Triennial Survey collects data based on the location of the sales desk, whereas some regional surveys are based on the location of the trading desk. This website requires javascript for proper use. About BIS The BIS's mission is to support central banks' pursuit of monetary and financial stability through international cooperation, and to act as a bank for central banks.

As a Forex trader, you certainly know that the USD is by far the most traded currency in the world. But what about the other currencies? And how important are the U. dollar and the Euro in international comparison?

We have evaluated the statistical data from the Bank for International Settlements BIS which has been published in this document. All data are daily averages for April The daily global Forex trading volume amounts to a total of 4 trillion dollars. According to the statistics, these three currency pairs amount for half of global trade volume:. Altogether, the top ten currency pairs are responsible for three-quarters of all FX trades.

A similar picture emerges when one considers not the currency pairs, but the single currencies. As you can see in the following pie-chart, the U. Dollar, the Euro, the Yen or the British Pound are involved in more than three quarters of all currency transactions worldwide. As you can see from this table, significantly less important compared to USD, EUR, JPY, GBP, AUD, CHF and CAD are currencies such as the Swedish Krona or the New Zealand dollar:. That does not mean that the minor currencies cannot be traded because that market is less liquid.

Just as an example: every day, Yen and Australian dollar with equivalent of around 25 billion USD are traded. Also with this currency pair, buyers and sellers are matched within a very short time frame during an FX trade.

Please note that not all Forex brokers offer an equally large number of FX pairs. Depending on the broker, these figures can vary between about 20 and more than If you are looking for a broker where you can trade more exotic currencies online, then you should check that figure before signing up. In our table on BrokerReviews. org we provide an overview of the number of currency pairs for each Forex broker we have reviewed. Over a hundred currency pairs can be traded for example with easyMarkets , a broker which we recommend you to check out now.

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Inter-dealer spot turnover actually declined slightly in absolute terms relative to , whereas inter-dealer turnover in FX swaps, outright forwards and currency swaps expanded noticeably Table 4. The largest US forex broker is XM, regulated by various financial authorities including CySEC in Cyprus. For the longest time, Forex trading was an arena that was solely available to large institutions with a huge amount of capital, such as governments and banks. i User agreement All information on the site is for informational purposes only! Australia 1. This was mainly driven by relatively slower growth of activity in Singapore and Tokyo. Forex Market Trading Turnover The Interbank international Forex trading platform provides an opportunity to purchase and sell currency at freely quoted prices.

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