Average daily turnover on the UK’s foreign exchange market reached $753 billion in April 2004, up 49% from 2001 according to a new IFSL report ? Foreign Exchange. There was also a further $80 billion traded in currency derivatives.
The UK’s importance as an international centre is highlighted by there being more dollar-based foreign exchange trading in the UK than in the US. Also more euros are traded in the UK than in all the euro-area countries combined.
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