Forex Market Overview

 

The foreign exchange market is the largest trading market in the world, and it continues to grow. Approximately $3.2 trillion worth of currency is exchanged on a daily basis, $460 billion of it in the United States.

 

There are two principal domestic Forex markets:

 

• International payments for business purposes comprise 80% of the market - about $3.2 trillion daily.

 

• Currency purchases for business or pleasure travel make up 20% of the market - about $4 billion daily.

 

Smaller businesses - often the clients or regional and community banks - comprise a surprisingly large proportion of the payments market:

 

• Small to medium size enterprises (SMEs) account for 96.5% of all U.S. importers/exporters - over 200,000 firms.

 

• SMEs account for over 31% of the total value of U.S. goods - over $300 billion per annum.

 

• The number of U.S. importing/exporting firms has tripled over a ten-year period.

 

• On-line bank usage by SMEs has increased by 100% over the past year.

 

Contact us for more information or to set up a live demo of our foreign exchange software