Stats › Intraday and market microstructure › FX turnover
FX turns over $9.6 trillion a day and only 31% is spot
| Instrument | April 2022 | April 2025 | Change | Share 2025 |
|---|---|---|---|---|
| FX swaps | 3,798 | 3,986 | +5% | 42% |
| Spot | 2,085 | 2,957 | +42% | 31% |
| Outright forwards | 1,157 | 1,847 | +60% | 19% |
| Options and other products | 303 | 634 | more than doubled | 7% |
| Currency swaps | 124 | 172 | +39% | 2% |
| All instruments | 7,468 | 9,595 | +28% | 100% |
Source: BIS Triennial Central Bank Survey, OTC foreign exchange turnover in April 2025. The +42%, +60%, +5% and +28% changes and the share column are as published by the BIS. The +39% for currency swaps is worked out from the two printed amounts, the BIS only describes that line as stable at around 2%. Shares sum to 101% on the BIS's own rounding.
Foreign exchange turnover is measured once every three years, by the BIS, for the month of April. The April 2025 survey found $9.6 trillion a day, up 28% on 2022, of which spot was 31%. Most of the market is funding, not speculation.
Members only
The rest of this page is for members
Below this point there are 7 sections, 1 chart, 1 table and 7 named sources, roughly 1150 words of it. Every figure carries the source it came from and the date the data is from.
You can keep browsing every statistic in the library for free. The intro and the summary are always open.