The global foreign exchange market in a higher-volatility environment

Mathias Drehmann and Vladyslav Sushko

BIS Quarterly Review, 2022

Abstract: Turnover in global foreign exchange (FX) averaged more than $7.5 trillion per day in April 2022 amid a volatile market environment. Compared with the previous BIS Triennial survey in 2019, trading volumes were higher because of greater activity in short-maturity FX derivatives and more inter-dealer trading. By contrast, trading with customers stagnated, mirroring a slowdown in international investment in 2022. A greater share of trading was executed via various bilateral methods, rather than via multilateral platforms that make prices available to all participants, implying that the transparency of the FX market may have decreased further.

JEL-codes: C42 C82 F31 G12 G15 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (7)

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