THE foreign exchange market has shown fresh signs of shrinking, with committees hosted by key central banks around the world showing a sharp contraction in average daily flowsSemiannual data from the Bank of England's Foreign Exchange Joint Standing Committee showed that foreign exchange turnover in Britain -- which accounts for around a third of all global flows -- stood at an average of $US1.356 trillion a day in April this year.
That marks a 20 per cent decline from levels seen in the previous survey, which tracked trading volumes in October 2008.
The committee said spot currencies trading -- the most basic end of the foreign exchange market -- accounted for a large part of the market's decline, posting a 28 per cent fall in volumes.
KEY CURRENCY TABLES
That marks a 20 per cent decline from levels seen in the previous survey, which tracked trading volumes in October 2008.
The committee said spot currencies trading -- the most basic end of the foreign exchange market -- accounted for a large part of the market's decline, posting a 28 per cent fall in volumes.
KEY CURRENCY TABLES
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