September 2010, news round-up

Non-banks lead 20% rise in FX turnover

Preliminary statistics from the Bank for International Settlements' triennial foreign exchange survey released on September 1 revealed average daily turnover grew by 20% to $4 trillion in April this year versus April 2007. The growth rate is down sharply on the 71% rise in average daily turnover in the preceding three-year period.

Analyst said the fall-off is rooted in a drop in cross-border trade, as markets navigate out of the global financial crisis

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