The Dollar Remains the Dominant Currency with 88 per cent of all Forex Transactions in 2019

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As the world’s dominant currency, the US dollar maintained its leading role in forex trading last year. The US dollar was on the side of 88 per cent of all trades last year, according to data gathered by LearnBonds.com.
The turnover in the euro, the second most traded currency in the world, slightly increased to 32 per cent, revealed the 2019 Triennial Survey of Forex Exchange.
During 2019, currencies of emerging market economies boosted their share and hitting 25 per cent of total forex trading volume. The figure represents a four per cent increase over the three-year period, continuing a trend seen in previous surveys.
The Japanese yen dropped five percentage points to a 17 per cent share of global turnover, compared to 2016, but remained as the third most traded currency in the world. This fall was primarily caused by a slide in the importance of Japanese yen/US dollar trading amid lower volatility. However, dealing in other leading yen cross trading such as the Australian dollar/yen and the euro/yen increased over the last three years.
Other heavily traded currencies remained unchanged on their 2016 shares. The British pound was the fifth most traded currency in 2019 with a 13 per cent share in global forex turnover, followed by the Australian dollar, Canadian dollar and Swiss franc.
The most traded emerging market economy currency, the Chinese renminbi, didn’t lift its rank in the overall currency list and remained as the ninth most traded currency in the world. However, the total turnover in the Hong Kong dollar nearly doubled in three years. The Indian rupee, Korean won and Indonesian rupiah also positioned higher in the global ranking.