According to IMARC Group’s latest report, titled “Foreign Exchange Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, Offers a comprehensive analysis of the industry, which comprises insights on foreign exchange market.
The global foreign exchange market size reached US$ 753.2 Billion in 2022. 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. 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.
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List of Key Companies Covered in this Market Report:
The report has segmented the market on the basis of counterparty, instruments and geography.
Breakup by Counterparty:
Breakup by Instruments:
Breakup by Geography:
Key highlights of the report:
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