SHERIDAN, WYOMING, UNITED STATES, November 10, 2021 /EINPresswire.com/ — According to IMARC Group’s latest report, titled “Foreign Exchange Market Overview: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026. the global foreign exchange market is expected to grow at a CAGR of 7.5% during 2021-2026.
Base Year: 2020
Forecast Year: 2021-2026
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Foreign exchange (FX), or forex, stands for a system that facilitates the transaction of currencies from different countries. It is primarily performed through credit instruments, including bills of foreign currency, bank drafts, telephonic transfers, etc. The fund transfer functions through an electronic network of banks, brokers, financial institutions, and individual traders. Forex also finds extensive applications for transferring funds to support the exchange of various goods and services between nations.
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The rising penetration of digitalization trends in the BFSI sector, along with the increasing number of international tourism activities, is driving the market for foreign exchange. Additionally, the growing awareness towards numerous benefits of foreign exchange pertaining to minimal trading costs, 24×7 trading opportunities, high transactional transparency, and liquidity, etc., is further augmenting the market growth. Besides this, the wide availability of electronic platforms and the provision of improved security mechanisms for trading are also propelling the global market. In the coming years, several technological advancements in foreign exchange solutions providing advanced outright forward and currency options will continue to drive the market growth in the coming years.
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List of Key Companies Covered in this Market Report:
HSBC Holdings plc
JPMorgan Chase & Co.
The Royal Bank of Scotland
Standard Chartered PLC
State Street Corporation
XTX Markets Limited
The report has segmented the market on the basis of counterparty, instruments and geography.
Breakup by Counterparty:
Other Financial Institutions
Breakup by Instruments:
Outright Forward and FX Swaps
Breakup by Geography:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Also Read Top 10 Players in the Global Foreign Exchange Market Worldwide
Key highlights of the report:
Market Performance (2015-2020)
Market Outlook (2021- 2026)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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Source: EIN Presswire