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The foreign exchange market has experienced significant growth in recent years. It is projected to expand from $752.66 billion in 2023 to $795.91 billion in 2024, representing a compound annual growth rate (CAGR) of 5.7%. The historical growth can be linked to factors such as globalization and international trade, differences in interest rates, government policies and monetary interventions, as well as speculation and investment flows, balance of payments, and economic indicators.
How Big Is the Global Foreign Exchange Market Expected to Grow, and What Is Its Annual Growth Rate?
The foreign exchange market is projected to experience robust growth in the coming years. It is anticipated to reach $1,023.91 billion by 2028, reflecting a compound annual growth rate (CAGR) of 6.5%. Factors contributing to this growth during the forecast period include political and geopolitical developments, fluctuations in commodity prices and resource exports, recovery from the pandemic and increased risk appetite, inflationary pressures, and the dynamics of emerging markets.
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What Is Driving the Growth of the Foreign Exchange Market?
The increase in international transactions is playing a crucial role in the future growth of the foreign exchange market. International transactions involve exchanges between two or more related businesses, where at least one party is a non-resident. A rise in global trade and international transactions enhances both the size and activity of the foreign exchange market.
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Which Leading Companies Are Driving The Growth Of The Foreign Exchange Market Share?
Key players in the foreign exchange market include JPMorgan Chase and Co., Citibank N. A., HSBC Holdings plc, BNP Paribas Société Anonyme, The Goldman Sachs Group Inc., UBS Group AG, Deutsche Bank AG, The Bank of Nova Scotia, Barclays plc, State Bank Of India, Standard Chartered plc, State Street Corporation, Royal Bank of Scotland plc, Commonwealth Bank of Australia, Interactive Brokers Group LLC, eToro Group Limited, Saxo Bank A/S, Swissquote Group Holding SA, CMC Markets plc, GAIN Capital Holdings Inc., IG Group Holdings plc, AvaTrade Ltd.
What Are The Key Trends Driving The Growth Of The Foreign Exchange Market Size?
Key companies in the foreign exchange market are creating innovative products, including next-generation foreign exchange platforms, to establish a competitive advantage. A foreign exchange platform is a digital software application or online system designed to enable the trading of currencies within the foreign exchange market.
How Is the Global Foreign Exchange Market Segmented?
1) By Counterparty: Reporting Dealers, Other Financial Institutions, Non-Financial Customers
2) By Trade Finance Instruments: Currency Swaps, FX Options
3) By End User: Individuals, Retailers, Corporate Institutes, Government, Other End Users
North America: The Leading Region in the Foreign Exchange Market
North America was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is the Foreign Exchange Market?
Foreign exchange involves the conversion of one currency into another at a set rate, known as the foreign exchange rate. The foreign securities market, valued at trillions of dollars, is predominantly comprised of foreign exchange markets. These markets facilitate currency pairings, where one currency is valued against another.
The Foreign Exchange Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Foreign Exchange Market Report: Trends, Opportunities, Strategies, and More
The Foreign Exchange Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into foreign exchange market size, foreign exchange market drivers and trends, foreign exchange competitors' revenues, and foreign exchange market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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