The most traded currencies in forex in 2022

The most traded currencies in forex in 2022

The latest report from the Bank for International Settlements (BIS), published on October 28, contains some startling notes on the current state of forex.

L’triennial survey (which takes place every three years) to this leads with the participation of monetary authorities, such as central banks, from 52 territories around the world as well as more than 1200 commercial banks.

Trading volume increases

Foreign exchange trading volume increased to US$7.5 billion per day, representing a 14% increase to account for the regular trading volume of US$6.6 billion recorded by the latest survey in 2019. The sales office in the UK, US, Singapore, Hong Kong and Japan continued to master most transaction processing, accounting for 78% or more of transaction volume. Interestingly, the volume transited through the UK accounts for 38% of global trade in Seoul, or US$2.6 billion, up from 43% in 2019.

Changing courses

The biggest surprise revealed by the survey was the change in the hierarchy of the most traded foreign currencies in forex.

On the one hand, the New Zealand dollar fell out of the ranking of the ten most traded currencies in the world. The New Zealand dollar has been overtaken by the Singaporean dollar, Swedish krona, Korean won and Norwegian krone, and is now the 14th most traded currency in the world. In addition, the popularity of the New Zealand dollar in the foreign exchange market is disproportionately disproportionate to the size of the New Zealand economy, with the NZD affiliating 125 million US dollars of transactions per day, which represents 1.7 % of all transactions.

While the rankings just outside the top say they are seeing a rest, the US dollar remains the most traded currency in forex, accounting for 88% of all currency trading on one side. The main changes in 2022 in the world are as follows:

  1. U.S. dollars
  2. euro
  3. japanese yen
  4. free pounds
  5. chinese renminbi
  6. Australian dollar
  7. Canadian dollar
  8. Swiss franc
  9. hong kong dollar
  10. Singapore dollar
  11. Swedish crown
  12. won korean
  13. Norwegian Krone
  14. New Zealand dollar
  15. Indian rupee
  16. mexican peso
  17. Taiwan dollars
  18. South African Rand
  19. brazilian real
  20. Danish Crown

Article by Mark O’Donnell » BlackBull Markets » Official Site

BlackBull Markets is a true ECN broker, Without Dealing Desk, offering institutional quality products and services available. Proprietary trading order aggregation system reducing spreads while increasing execution speeds and available markets. Personalized account support with a personal account manager with 24/6 live support.

Disclaimer: The information and opinions contained in the report are provided for general information only and do not constitute an offer or a solicitation concerning the acquisition or sale of foreign exchange contracts or CFDs. Although the information contained in this document comes from sources believed to be reliable, the author does not guarantee its accuracy and is not exhaustive, and assumes no responsibility for any direct, indirect or consequential damages that may result that he trusts such information.

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