The first part of the Bank for International Settlements’ (BIS) triennial survey of central banks shows a significant increase in the traditional foreign exchange market over the three-year period, with average daily turnover increasing by 57% to $1.9 trillion in the period, or 36% at constant exchange rates. The survey involved 52 central banks compared with the BIS’s semi-annual reports, which collect data from major dealers in the Group of Ten countries at the end of September and the second
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