Interesting Facts About the Forex Market
The Forex market is a massive financial arena with a staggering daily trading volume of $5.3 trillion. To put this in perspective, the trading volume in Forex surpasses four times the Global Gross Domestic Product.
If you were to spend $1 every second, it would take an astonishing 126,118 years to exhaust the value of the daily turnover in the Forex market.
There are approximately 170 different currencies utilized across the globe, yet a whopping 85% of all Forex trades are concentrated in just 7 major currency pairs: EURUSD, USDJPY, GBPUSD, AUDUSD, NZDUSD, USDCAD, and USDCHF.
Moreover, the U.S. Dollar plays a crucial role, as it is involved in 90% of all foreign exchange transactions.
These fascinating statistics highlight the sheer scale and significance of the Forex market in the world of finance.
