FX market bounces back on swaps, forwards growth

While spot volumes remain below 2013 levels, the latest BIS triennial central bank survey notes that FX markets have recovered from the decline recorded in 2016 on the back of strong growth in swap and forward transactions.

The 2019 Bank for International Settlements (BIS) triennial central bank survey certainly makes for better reading for the FX industry than its 2016 edition. Spot trade volumes are up 20% over the last three years, FX swap activity increased by more than a third and trading in outright forwards was up 43%.

These figures are in line with the findings of Euromoney’s 41st annual foreign exchange survey published in June, which reported that overall FX volumes were at their highest level since 2015.

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