{"id":341627,"date":"2019-09-17T16:03:45","date_gmt":"2019-09-17T14:03:45","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=341627"},"modified":"2019-09-17T16:03:45","modified_gmt":"2019-09-17T14:03:45","slug":"these-are-the-most-traded-currencies-in-the-world-including-the-rand","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/341627\/these-are-the-most-traded-currencies-in-the-world-including-the-rand\/","title":{"rendered":"These are the most traded currencies in the world – including the rand"},"content":{"rendered":"

The Bank for International Settlements (BIS) has published its latest Triennial Central Bank Survey<\/a><\/strong>, which tracks global foreign exchange activity in major markets.<\/p>\n

According to the BIS, trading in foreign exchange (FX) markets reached $6.6 trillion per day in April 2019, up from $5.1 trillion three years earlier.<\/p>\n

The US dollar retained its dominant currency status, being on one side of 88% of all trades.<\/p>\n

The share of trades with the euro on one side expanded somewhat, to 32%. By contrast, the share of trades involving the Japanese yen fell some 5 percentage points, although the yen remained the
\nthird most actively traded currency (on one side of 17% of all trades), the BIS said.<\/p>\n

“As in previous surveys, currencies of emerging market economies again gained market share, reaching 25% of overall global turnover. Turnover in the Chinese renminbi, however, grew only slightly faster than the aggregate market, and the renminbi did not climb further in the global rankings.<\/p>\n

“It remained the eighth most traded currency, with a share of 4.3%, ranking just after the Swiss franc,” the group said.<\/p>\n

South Africa’s rand was ranked as the 18th most traded currency in the world, up from 20th position three years ago. The rand accounted for 1.1% of the average daily turnover recorded in April 2019, compared to 1.0% in 2016.<\/p>\n

Over the last 15 years, the rand has been used more in trades, despite having ranked higher in the 2004 and 2007 reports.<\/p>\n

In those years, South Africa’s currency ranked 16th and 15th overall, respectively, but only accounted for 0.7% and 0.9% of the daily average turnover tracked over the same periods.<\/p>\n

The rand’s trade share is on par with other emerging economies like Russia, India, Brazil and Turkey.<\/p>\n

The table below outlines the 20 most traded currencies in the world:<\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Rank<\/th>\nCurrency<\/th>\nName<\/th>\nShare<\/th>\n<\/tr>\n
1<\/td>\nUSD<\/td>\nUS dollar<\/td>\n88.3%<\/td>\n<\/tr>\n
2<\/td>\nEUR<\/td>\nEuro<\/td>\n32.3%<\/td>\n<\/tr>\n
3<\/td>\nJPY<\/td>\nJapanese yen<\/td>\n16.8%<\/td>\n<\/tr>\n
4<\/td>\nGBP<\/td>\nBritish pound<\/td>\n12.8%<\/td>\n<\/tr>\n
5<\/td>\nAUD<\/td>\nAustralian dollar<\/td>\n6.8%<\/td>\n<\/tr>\n
6<\/td>\nCAD<\/td>\nCanadian dollar<\/td>\n5.0%<\/td>\n<\/tr>\n
7<\/td>\nCHF<\/td>\nSwiss franc<\/td>\n5.0%<\/td>\n<\/tr>\n
8<\/td>\nCNY<\/td>\nChinese yuan (renminbi)<\/td>\n4.3%<\/td>\n<\/tr>\n
9<\/td>\nHKD<\/td>\nHong Kong dollar<\/td>\n3.5%<\/td>\n<\/tr>\n
10<\/td>\nNZD<\/td>\nNew Zealand dollar<\/td>\n2.1%<\/td>\n<\/tr>\n
11<\/td>\nSEK<\/td>\nSwedish krona<\/td>\n2.0%<\/td>\n<\/tr>\n
12<\/td>\nKRW<\/td>\nKorean won<\/td>\n2.0%<\/td>\n<\/tr>\n
13<\/td>\nSGD<\/td>\nSingapore dollar<\/td>\n1.8%<\/td>\n<\/tr>\n
14<\/td>\nNOK<\/td>\nNorwegian krone<\/td>\n1.8%<\/td>\n<\/tr>\n
15<\/td>\nMXN<\/td>\nMexican peso<\/td>\n1.7%<\/td>\n<\/tr>\n
16<\/td>\nINR<\/td>\nIndian rupee<\/td>\n1.7%<\/td>\n<\/tr>\n
17<\/td>\nRUB<\/td>\nRussian ruble<\/td>\n1.1%<\/td>\n<\/tr>\n
18<\/td>\nZAR<\/td>\nSouth African rand<\/td>\n1.1%<\/td>\n<\/tr>\n
19<\/td>\nTRY<\/td>\nTurkish lira<\/td>\n1.1%<\/td>\n<\/tr>\n
20<\/td>\nBRL<\/td>\nBrazilian real<\/td>\n1.1%<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nOthers<\/td>\n7.7%<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

Total trade share adds up to 200%, as two currencies are involved in trades.<\/em><\/p>\n

\n

Read: Saudi drone strikes will have an impact on South Africa\u2019s petrol price<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The Bank for International Settlements (BIS) has published its latest Triennial Central Bank Survey, which tracks global foreign exchange activity in major markets.<\/p>\n","protected":false},"author":10,"featured_media":336533,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121],"tags":[26],"class_list":["post-341627","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/341627","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=341627"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/341627\/revisions"}],"predecessor-version":[{"id":341669,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/341627\/revisions\/341669"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/336533"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=341627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=341627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=341627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}