The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s foreign exchange market report forecasts the foreign exchange market size to grow to $972.12 billion in 2027 by 2027, with a CAGR (compound annual growth rate) of more than 6%.

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https://www.thebusinessresearchcompany.com/report/foreign-exchange-global-market-report

Foreign Exchange Market Size Forecast

The global foreign exchange market size is expected to grow from $715.09 billion in 2022 to $763.17 billion in 2023 at a compound annual growth rate (CAGR) of 6.41%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global foreign exchange market size is expected to reach $972.12 billion in 2027 at a CAGR of 6.54%.

North America held the largest foreign exchange market share in 2022.

Key Foreign Exchange Market Driver ­– Surge In International Transactions

For instance, according to a 2022 report published by the United Nations Conference on Trade and Development (UNCTAD), a Switzerland-based intergovernmental organization that promotes the interests of developing countries in world trade, the value of global trade and international transactions reached $28.5 trillion in 2021, a 25% increase from 2020. Therefore, a surge in international transactions will drive the foreign exchange market.

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Key Foreign Exchange Market Trend – Product Innovation

Product innovation is the key trend gaining popularity in the foreign exchange market. Major companies operating in the foreign exchange market are focusing on launching new innovative foreign exchange platforms.

Foreign Exchange Market Segment

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

Foreign Exchange Market Major Players and Strategies

Major players in the foreign exchange market are Barclays PLC., Deutsche Bank AG, HSBC Holdings PLC., JPMorgan Chase and Co., Royal Bank of Scotland PLC., Standard Chartered PLC., State Street Corporation, The Goldman Sachs Group Inc., UBS Group AG, Citibank, State Bank Of India, GAIN Capital, Scotiabank, BNP Paribas SA, Citigroup Inc. and Commonwealth Bank of Australia.

In January 2023, Rostro Group, a US-based capital holdings company focusing on digital assets and capital markets, acquired Scope Markets Group for an undisclosed amount. This acquisition has added foreign exchange trading to Rostro’s portfolio of investments. Scope Markets Group, a Belize-based financial trade and forex services company.

The Foreign Exchange Global Market Report 2023 covers regional data on foreign exchange market size, foreign exchange market trends and drivers, opportunities, strategies, and foreign exchange market competitor analysis. The countries covered in the foreign exchange market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Foreign exchange refers to the exchange of one currency for another at a predetermined rate, or foreign exchange rate.

View More Reports Related To The Foreign Exchange Market –

Payments Global Market Report 2023

Payment Security Global Market Report 2023

Cards & Payments Global Market Report 2023

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