Ten Most traded Foreign Currencies in the Forex Market

There are ten foreign currencies considered to be most traded and occasionally volatile in the Forex market today. Below is an informative forex handbook that documents these currencies with their estimated volume according to data obtained from the Bank for International Settlements (BIS).

10 Most Traded Foreign Currencies

US Dollar (USD)

  • The US dollar, which is sometimes called the greenback, is first and foremost in the world of forex trading, as it is easily the most traded currency on the planet. The US Dollar produces a daily average volume of US$2.9 trillion in the Forex Market. Given the dollar dominance, it is today seen as the major currency used to pair others.

    • The most interesting pairs to trade are EUR/USD, GBP/USD and USD/JPY.

EURO (EUR)

  • The Euro comes in immediately after dollar. Euro is the official currency of the European Union (EU) and the second most traded globally, accounting for a daily average volume of nearly US$1.1 trillion.

    • The most interesting pairs to trade are EUR/USD, EUR/JPY and EUR/GBP.

    • Often the pairing of the Euro with the dollar (EURUSD) produces the most traded and volatile pair in the Forex Market today.

Japanese Yen (JPY)

  • The US dollar, which is sometimes called the greenback, is first and foremost in the world of forex trading, as it is easily the most traded currency on the planet. The US Dollar produces a daily average volume of US$2.9 trillion in the Forex Market. Given the dollar dominance, it is today seen as the major currency used to pair others.

    • The most interesting pairs to trade are EUR/USD, GBP/USD and USD/JPY.

Great British Pound (GBP)

  • The pound sterling is the official currency of the United Kingdom and its territories, and the fourth most traded globally at a daily average volume of nearly US$422 billion.

    • The most interesting pairs to trade are GBP/USD and GBP/EUR.

Australian Dollar (AUD)

  • The Australian dollar is the official currency of the Commonwealth of Australia and the fifth most traded globally, accounting for a daily average volume of US$223 billion.

    • The most interesting pairs to trade are AUD/USD.

Canadian Dollar (CAD)

  • The Canadian dollar is the official currency of Canada and the sixth most traded globally, accounting for a daily average volume of US$166 billion.

    • The most interesting pair to trade is USD/CAD.

Swiss Franc (CHF)

  • The Swiss franc is the official currency of Switzerland and the seventh most traded globally, accounting for a daily average volume of US$164 billion.

    • The most interesting pairs to trade are EUR/CHF and USD/CHF.

Chinese Renminbi (CNH)

  • The Chinese renminbi – sometimes referred to colloquially as the ‘yuan’ – is the official currency of the People’s Republic of China and the eighth-most traded globally, accounting for a daily average volume of US$142 billion.

    • The most interesting pairs to trade are USD/CNH, CNH/JPY, EUR/CNH and GBP/CNH.

Hong Kong Dollar (HKD)

  • The Hong Kong dollar is the official currency of Hong Kong and the ninth most traded globally, accounting for a daily average volume of US$117 billion.

    • The most interesting pairs to trade are USD/HKD and EUR/HKD.

New Zealand Dollar (NZD)

  • The New Zealand dollar is the official currency of New Zealand and the tenth most traded globally, accounting for a daily average volume of US$68 billion.

    • The most interesting pairs to trade are NZD/USD, EUR/NZD and NZD/JPY.

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