According to IMARC Group’s latest report, titled “Foreign Exchange Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, the global foreign exchange market size reached US$ 753.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,143.2 Billion by 2028, exhibiting a growth rate (CAGR) of 7% during 2023-2028.

Foreign exchange (FX) involves an exchange of the currency of one country with another at specific exchange rates. It enables investors to invest in the market through banks, commercial companies, investors, and investment management firms. It offers international liquidity and provides traders flexibility as FX operates all the time. It also provides low transaction costs and a wide variety of trading options compared to other markets. It is suitable for beginners who want to invest in the FX market as it provides transparency in transactions. As a result, it is utilized by individuals, retailers, corporate institutes, and government agencies around the world.          

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Market Trends

Presently, the increasing demand for FX for convenient use of foreign currency, along with the rising international transactions, represents one of the key factors contributing to the growth of the market. Apart from this, rapid digitalization and high-speed internet facilities across the globe are propelling the growth of the market. Moreover, the increasing number of travelers visiting abroad for different purposes and the growing international business expansion around the world is offering lucrative growth opportunities to industry investors. Furthermore, a wide availability of online platforms with enhanced security mechanisms for trading across the globe is strengthening the growth of the market.

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List of Key Companies Covered in this Market Report:

  • 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

The report has segmented the market on the basis of counterparty, instruments and geography.

Breakup by Counterparty:

  • Reporting Dealers
  • Other Financial Institutions
  • Non-financial Customers

Breakup by Instruments:

  • Currency Swap
  • Outright Forward and FX Swaps
  • FX Options

Breakup by Geography:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Key highlights of the report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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