Foreign Exchange Trade

Click here for the background in April 2016 to this report, published by BIS, the Bank for International Settlements (of central banks).

Click here for the latest financial statements at the BIS. Valued in SDRs, where 1 SDR is currently equal to $US1.38.

Click here for more information on SDRs as defined by the International Monetary Fund, and click here for its current formula.

Click here for a list of currency abbreviations for their 161 official currencies.

Foreign Exchange trading increased from a daily average of $US 1 trillion in 2001 to $US 5 trillion by 2013. In 2016 most occurred via sales desks in five jurisdictions: the United Kingdom - London (37%), the United States - New York (19%), Singapore (7%), Japan - Tokyo (7%) and Hong Kong SAR Special Admin Region (7%).

In Australia's Reserve Bank, $50 billion is currently held in seven currencies:- USD 55%, EUR 20%, then JPY, GBP, CAD, CNY and KRW 5% each.

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Most traded currencies by value
Currency distribution of global foreign exchange market turnover
Rank ▲▼ Currency Abbrev. % daily share
1 United States dollar USD ($) 88%
2 Euro EUR (€) 31%
3 Japanese yen JPY (¥) 22%
4 Pound sterling GBP (£) 13%
5 Australian dollar AUD ($) 7%
6 Canadian dollar CAD ($) 5%
7 Swiss franc CHF (Fr) 5%
8 Chinese yuan CNY (¥) 4%
9 Swedish krona SEK (kr) 2%
10 New Zealand dollar NZD ($) 2%
11 Mexican peso MXN ($) 2%
12 Singapore dollar SGD ($) 2%
13 Hong Kong dollar HKD ($) 2%
14 Norwegian krone NOK 2%
15 Korean won KRW 2%
16 Turkish lira TRY (Turkish lira) 1%
17 Russian ruble RUB (₽) 1%
18 Indian rupee INR 1%
19 Brazilian real BRL 1%
20 South African rand ZAR 1%
21 Danish krone DKK 1%
22 Polish zloty PLN 1%
23 New Taiwan dollar TWD 1%
24 Thai baht THB 0.4%
25 Malaysian ringgit
 
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MYR 0.4%
26 Hungarian forint HUF 0.3%
27 Saudi riyal SAR 0.3%
28 Czech koruna CZK 0.3%
29 Israeli new shekel ILS 0.3%
30 Chilean peso CLP 0.2%
31 Indonesian rupiah IDR 0.2%
32 Colombian peso COP 0.2%
33 Philippine peso PHP 0.1%
34 Romanian leu RON 0.1%
35 Peruvian sol PEN 0.1%
36 Other OTH 2%
37 xxx Total xxx 200%

 

The following table comes from http://www.bloomberg.com /news/2014-05-08/deutsche-bank-currency-crown-lost-to-citigroup-on-volatility-1-.html

 
Top 10 currency traders % of overall volume, May 2014
Rank Name Market share
1

United StatesCiti

16.04%

2

GermanyDeutsche Bank

15.67%

3

United KingdomBarclays Investment Bank

10.91%

4

SwitzerlandUBS AG

10.88%

5

United KingdomHSBC

7.12%

6

United StatesJPMorgan

5.55%

7

United StatesBank of America Merrill Lynch

4.38%

8

United KingdomRoyal Bank of Scotland

3.25%

9

FranceBNP Paribas

3.10%

10

United StatesGoldman Sachs

2.53%

 

The following list of Top 10 Banks came from Wikipedia's list of Top 75 Banks worldwide with additional notes from Investopedia

Top 6 Banks outside China December 2018
Rank Name Total Assets ($ trillion)
1 Mitsubishi UFJ Financial Group
This is a Japanese bank that offers consumer banking, as well as business and private banking. This is also an investment bank. It offers asset management and real estate banking.
$2.785 trillion
2 JPMorgan Chase & Co. (JPM)
It is based in New York, but it is a multinational bank.
It is involved in investment services, asset management, wealth management, and securities.
$2.615 trillion
3 HSBC Holdings (HSBC)
This is a bank based in England. The bank has offices in 80 countries and has 1,800 locations in the U.K. It provides private banking and consumer finance, along with corporate banking and investment services.
$2.558 trillion
4 BNP Paribas
This French bank has offices in 75 countries, including the United States. This bank was ranked second among banks in the euro zone in 2016.
$2.357 trillion
5 Bank of America (BAC)
Bank of America is a U.S. bank that offers services for personal banking, small businesses, mid-sized businesses, and large corporations. It offers investment services in addition to its deposit and checking accounts. The bank has nearly 5,000 retail outlets.
$2.338 trillion
6 Credit Agricole Group
This is the second French bank on the list. This bank has a history of working with farmers. It is part of a network of 39 French banks.
$2.117 trillion

Top 4 Banks in China

1. Industrial & Commercial Bank of China
This is the largest bank in the world when measured by assets. It has $4.009 trillion in total assets. The bank’s revenues came in at $105.4 billion in 2018.
Though this is a commercial bank, it is state-owned. The bank provides loans, financing for businesses, credit cards, as well as money management for high-net-worth individuals and companies. The bank also offers money market vehicles, investing opportunities and exchange and transfer services.

2. China Construction Bank Corp.
This is the second Chinese bank. It offers corporate banking, which deals with credit, company e-banking, credit lines, and commercial loans. The personal banking segment offers personal loans, credit cards, deposits and wealth management for individual investors.
The bank also operates a Treasury sector that deals with money markets, debt securities, and currencies. The China Construction Bank has assets of $3.4 trillion.

3. Agricultural Bank of China
This Beijing bank has branches across China, plus London, Tokyo, New York and Sydney, Australia. Not only is it the third-largest bank on our list, but it is also one of the 10 largest companies in the world. Agricultural Bank of China is state-owned.
The bank deals with small farmers and large agricultural wholesale companies. It also works with non-agricultural companies. Its largest growth segment is mid-sized companies. The bank has assets of $3.235 trillion.

4. Bank of China
The Bank of China offers investment banking, insurance and investing services. It also provides personal loans, credit card services, debit cards, mortgages, asset and liability management, and insurance. Assets total $2.992 trillion.

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