Five Most Popular Countries for Forex Trading
As of April 2013, trading in the international forex exchange markets averaged about $5.3 trillion every day. This is based on the latest data from the Bank for International Settlements which conducts a survey every three years. In fact, the amount of activity in the foreign exchange markets is continuing to grow strongly, up from $4.0 trillion a day in April, 2010. However, there have been major shifts in which currencies pairs are traded most, and in where trading occurs.
The United States
The US dollar continues to be the world’s dominant currency, and is involved in 87% of all forex deals. Keeping in mind that forex involves two currencies; that means the US dollar accounts for 43.5% of all global forex trade. That’s actually up slightly from 2010, when the US dollar was involved in slightly less than 85% of all currency trades. However, that doesn’t mean that the US is the most popular country where forex trades occur – in fact, only 18.9% of forex trades occur in the US market, which puts the country in second place.
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