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Rapid growth in forwards led by NDFS Graph 5

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Rapid growth in forwards led by NDFS Graph 5

Special Feature of the BIS Quarterly Review, December 2019 - "Offshore markets drive trading of emerging market currencies" by Nikhil Patel and Dora Xia. FX markets for the currencies of emerging market economies grew more rapidly than those for major currencies between 2016 and 2019, rising from 19% to almost 25% of global turnover. At the same time, these currencies attracted a wider range of participants and saw a rapid increase in offshore...

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