October 11, 2004

Forex market nearly $2T/day

The Now Economy By: ams

It’s official — or as official as it’s going to get in such a decentralized market — the daily turnover in currency trades is nearly double the oft-quoted trillion-dollar-a-day mark…

The Wall Street Journal version of this story on 9/29 noted that “the surge in trading levels indicates that foreign exchange is becoming increasingly well established as an asset class in its own right as an alternative to stocks and bonds.”

Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity 2004

“Average daily global turnover in traditional foreign exchange markets rose to $1.9 trillion in April 2004, up by 57% at current exchange rates and by 36% at constant exchange rates as compared to April 2001”

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