Foreign Exchange Market Global Report 2023, Industry Trends, Size, Share, Growth and Forecast 2028

by Zayn Mathew Market Research Reports

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 to register moderate growth during the next five years. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists, and all those who are planning to foray into the market in any form.

Foreign exchange (FX), or forex, stands for a system that facilitates the transaction of currencies from different countries. It is primarily performed through credit instruments, including bills of foreign currency, bank drafts, telephonic transfers, etc. The fund transfer functions through an electronic network of banks, brokers, financial institutions, and individual traders. Forex also finds extensive applications for transferring funds to support the exchange of various goods and services between nations.

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Market Trends

The rising penetration of digitalization trends in the BFSI sector, along with the increasing number of international tourism activities, is driving the market for foreign exchange. Additionally, the growing awareness towards numerous benefits of foreign exchange pertaining to minimal trading costs, 24x7 trading opportunities, high transactional transparency, and liquidity, etc., is further augmenting the market growth. Besides this, the wide availability of electronic platforms and the provision of improved security mechanisms for trading are also propelling the global market. In the coming years, several technological advancements in foreign exchange solutions providing advanced outright forward and currency options will continue to drive the market growth in the coming years.

Foreign Exchange Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

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 region.

Breakup by Counterparty:

Reporting Dealers
Other Financial Institutions
Non-financial Customers

Breakup by Instruments:

Currency Swap
Outright Forward and FX Swaps
FX Options

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Breakup by Region:

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

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