What is Forex and How Big It Is?💱
Updated: Jul 26, 2022
Forex - foreign exchange market, is a location where international currencies are bought and sold by economic participants at various exchange rates.
Forex market is the biggest market in the world, reaching on average 6 trillion dollars trading volumes daily.
Forex market is a vital element for a global economy because it provides capital exchanges between the countries.
The main market participants of forex market are central banks, commercial banks, commercial companies, hedge funds and investors.
🕰In order to grasp how big is that market, take a look what is happening on that just in 60 seconds:
📎Total transactions value reaches 3.52 billion US dollars.
📎 1.15 billion dollars of spot transactions.
📎 1.65 billion dollar of exchange swaps.
📎 Total transactions value involving USD reaches 3 billion US dollars.
📎 Total transactions value involving EURO reaches 1.1 billion US dollars.
📎 Just one single EUR/USD pair accumulates 812 million US dollars transactions value.
It is hard to imagine how such big amounts are rolling with such a frequency and how insignificant are the orders of individual traders.