Cryptocurrency Q&A
How much money goes through forex everyday?
How much money goes through forex everyday?
Eleonora
Thu Oct 03 2024
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7 answers
1626
Can you elaborate on the sheer volume of financial transactions that occur daily within the foreign exchange market? I'm particularly interested in understanding the magnitude of money that flows through this global market on a daily basis. How does this compare to other financial markets, and what factors contribute to the high volume of transactions in forex?
7 answers
CherryBlossomDancing
Sat Oct 05 2024
However, it is estimated that the total daily turnover of the Forex market is in the trillions of dollars.
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DondaejiDelight
Sat Oct 05 2024
This amount is significantly higher than the daily trading volume for other major currencies such as the euro (EUR).
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Lorenzo
Sat Oct 05 2024
In fact, the daily trading volume for the USD is three times higher than that of the EUR.
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Federico
Sat Oct 05 2024
The foreign exchange market, also known as the Forex market, is a global decentralized market for trading currencies.
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Lorenzo
Sat Oct 05 2024
The turnover of the Forex market per day is a figure that is not frequently measured due to its decentralized nature.
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