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Currency Market Stays Above $5 Trillion

Daily trading volume has contracted only slightly, according to the BIS triennial survey.

By Anchalee Worrachate and Lananh Nguyen, Bloomberg | Updated on September 01, 2016

The foreign-exchange market proved its resilience to challenges ranging from tumbling profits to a rate-fixing scandal in figures published once every three years by the Bank for International Settlements.

Average daily trading dropped to $5.1 trillion in April, from a revised $5.4 trillion in the same month in 2013, the BIS said Thursday in its latest triennial survey of the currency market. If it hadn’t been for the dollar’s appreciation, that volume would actually have risen about 4%, according to the report. The use of swaps increased, widening its lead over spot trading, or dealing in the currencies themselves rather than derivatives.

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