BIS: US tariff shock drives global foreign exchange trading volume to a new record
2025-12-08 20:10:55
Global foreign exchange trading volumes have surged to all-time highs this year amid market turmoil caused by US President Donald Trump's tariff policies, with average daily trading volumes reaching $9.50 trillion in April, according to data from the Bank for International Settlements (BIS). The bank released its quarterly assessment on Monday, citing data from a triennial survey, saying the impact of the tariffs was "material" and led to an unexpected depreciation of the dollar, while accounting for a daily average of more than $1.50 trillion in April over the counter. Overall foreign exchange trading volumes rose by more than a quarter from the last survey in 2022 and surpassed the estimated peak in March 2020 when the epidemic triggered market turmoil, the report showed. The data was updated based on preliminary survey results released in September.
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