According to the latest report by IMARC Group, titled “Foreign Exchange Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global foreign exchange market experienced healthy growth during 2014-2019. Foreign exchange (forex) is the systematic process of converting one currency into another. The system is used to facilitate the flow of money that is derived from international trade. With no centralized location, the forex market consists of an electronic network of banks, brokers, institutions, and individual traders who trade through banks or brokers. The system utilizes credit instruments, such as bills of foreign currency, bank drafts and telephonic transfers, to not only convert the currency of one nation into another but also to support the exchange of various goods and services between multiple countries.
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The report has also analysed the competitive landscape of the market with some of the key players being Barclays, BNP Paribas, Citibank, Deutsche Bank, Goldman Sachs, HSBC Holdings plc, JPMorgan Chase & Co., The Royal Bank of Scotland, UBS AG, Standard Chartered PLC, State Street Corporation, XTX Markets Limited, etc.
Global Foreign Exchange Market Trends:
The global market is primarily driven by the confluence of various factors, including rapid urbanization, inflating disposable income levels and changing lifestyle patterns. This has led to a significant increase in the influx of tourists on a global level, which has influenced the demand for foreign exchange positively. This is further supported by the numerous benefits associated with forex, which include 24×7 trading opportunities, minimal trading costs, enormous trading volume, high liquidity and high transactional transparency. The forex market also attracts international traders by offering numerous lucrative opportunities and early profits, which is creating a positive outlook for the market. Moreover, the advent of multiple internet-based platforms has also contributed to the market growth. These platforms offer convenience during currency exchanges and ensure the delivery of goods and services in a secure and centralized setting. Furthermore, various companies are investing in the development of the overall infrastructure to provide improved security mechanisms for trading, thereby providing traction to the market growth. Other factors, such as increasing digitization and several technological advancements, are expected to contribute to the market growth further. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of around 6% during the forecast period (2020-2025).
Breakup by Counterparty:
Other Financial Institutions
Breakup by Instruments:
Outright Forward and FX Swaps
Explore full report with table of contents: https://www.imarcgroup.com/foreign-exchange-market
Breakup by Region:
Middle East and Africa
Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic.
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This release was published on openPR.