MW: Global currency trading soars to $4 trillion a day
By Polya Lesova
FRANKFURT (MarketWatch) -- Currency trading volume has soared to $4 trillion a day, according to data released by the Bank for International Settlements. Global foreign-exchange market turnover was 20% higher in April 2010 than in April 2007, with average daily turnover of $4.0 trillion compared to $3.3 trillion, the data showed. The increase was fuelled by the 48% growth in turnover of spot transactions, which represent 37% of foreign-exchange market turnover, the bank said. Spot turnover surged to $1.5 trillion in 2010 from $1.0 trillion in 2007. The increase in turnover of other foreign exchange instruments stood at 7%, with average daily turnover of $2.5 trillion in April 2010.
