Sweden NIER Forecast: Exchange Rate: US Dollar data was reported at 7.500 SEK/USD in 2028. This records a decrease from the previous number of 7.600 SEK/USD for 2027. Sweden NIER Forecast: Exchange Rate: US Dollar data is updated yearly, averaging 7.400 SEK/USD from Dec 1971 (Median) to 2028, with 58 observations. The data reached an all-time high of 10.300 SEK/USD in 2001 and a record low of 4.200 SEK/USD in 1980. Sweden NIER Forecast: Exchange Rate: US Dollar data remains active status in CEIC and is reported by National Institute of Economic Research. The data is categorized under Global Database’s Sweden – Table SE.M020: Foreign Exchange Rate: Forecast: National Institute of Economic Research.

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Foreign Exchange Market Size 2025-2029

The foreign exchange market size is forecast to increase by USD 582 billion at a CAGR of 10.6% between 2024 and 2029.

The market continues to evolve, driven by several key trends and challenges. One significant trend is the increasing use of money transfer agencies, venture capital investments, and mutual funds in foreign exchange transactions. The Internet of Things (IoT) and artificial intelligence (AI) revolutionize banking and financial services, enabling real-time personal finance software and content delivery for travelers and businesses. The uncertainty of future exchange rates fuels the demand for 24x7 trading opportunities. As urbanization progresses and digitalization becomes more prevalent, the market is expected to grow, offering numerous opportunities for businesses and investors.

What will be the Size of the Foreign Exchange Market During the Forecast Period?

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The market, also known as the forex or FX market, is a decentralized global market for the trading of currencies. It facilitates the conversion of one currency into another for various reasons, including international trade, tourism, hedging, speculation, and investment. Participants in this market include financial institutions, non-financial customers, individuals, retailers, corporate institutes, and central banks. Currencies are traded 24 hours a day, five days a week, due to the presence of multiple time zones and the interbank network.
Currency swaps, interest rate differentials, monetary interventions, economic indicators, political developments, and investment flows are some of the key drivers influencing the market. International trade, balance of payments, and economic instability in various countries also significantly impact currency values. Speculation and hedging activities, particularly by corporations and financial institutions, contribute to the volatility of currency rates. The market is increasingly leveraging artificial intelligence and Internet of Things technologies to optimize trading strategies, with mutual funds utilizing these advancements to enhance portfolio performance and manage currency risk more efficiently. The forex market plays a crucial role in facilitating international business transactions and managing risks associated with currency fluctuations.

How is this Foreign Exchange Industry segmented and which is the largest segment?

The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.TypeReporting dealersFinancial institutionsNon-financial customersTrade Finance InstrumentsCurrency swapsOutright forward and FX swapsFX optionsCounterpartyReporting DealersOther Financial InstitutionsNon-Financial CustomersGeographyNorth AmericaCanadaUSEuropeGermanyUKAPACChinaIndiaJapanSouth AmericaBrazilMiddle East and Africa

By Type Insights

The reporting dealers segment is estimated to witness significant growth during the forecast period. The market, also known as Forex or FX, is a global financial market where participants buy, sell, and exchange currencies. This market involves various market participants, including financial institutions, non-financial customers, and corporations. Currency swaps, individuals, retailers, corporates, hedge funds, wealth managers, and foreign exchange services are among the key players. The markets facilitate international trade and investment flows, with economic indicators, political developments, inflationary pressures, and interest rate differentials influencing currency values. Monetary interventions, speculation, and risk appetite are also significant factors.
Modern technology and electronic platforms have increased efficiency and accessibility, enabling 24-hour operation. Currency exchange services, monetary policies, and regulations, including those by central banks, impact the market. Economic events, financial crises, and strategic corporate activities can cause volatility. Hedging strategies, accessible platforms, and personal finance considerations are essential for individual investors, small businesses, and multinational corporations dealing with major currency pairs. Online trading platforms and trade balances are crucial for managing currency risks in an increasingly globalized business environment.

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The Reporting dealers segment was valued at USD 278.60 billion in 2019 and showed a gradual increase during the forecast period.

Currency pairs are the foundation of forex trading, with spot trading being one of the most common methods of buying and selling currencies. Forward contracts and swap deals offer traders the ability to lock in exchange rates for future transactions, managing ris

Russia MED Forecast: Foreign Exchange Rate: Year Average: US Dollar: Baseline Scenario data was reported at 75.156 RUB/USD in 2036. This records an increase from the previous number of 74.739 RUB/USD for 2035. Russia MED Forecast: Foreign Exchange Rate: Year Average: US Dollar: Baseline Scenario data is updated yearly, averaging 69.636 RUB/USD from Dec 2016 (Median) to 2036, with 21 observations. The data reached an all-time high of 75.156 RUB/USD in 2036 and a record low of 58.335 RUB/USD in 2017. Russia MED Forecast: Foreign Exchange Rate: Year Average: US Dollar: Baseline Scenario data remains active status in CEIC and is reported by Ministry of Economic Development of the Russian Federation. The data is categorized under Global Database’s Russian Federation – Table RU.ME002: Foreign Exchange Rate: Year Average: US Dollar: Forecast: Ministry of Economic Development.

The global foreign exchange market size was valued at USD 861 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 1,535 Billion by 2033, exhibiting a CAGR of 6.64% from 2025-2033. North America currently dominates the market, holding a significant share of 25.8% in 2024. The dominance is attributed to the rising integration of modern technology in trading platforms, the globalization of businesses resulting in the consequent need for currency exchange services, and the growing influence of various economic factors such as inflation, interest rates, and GDP growth.

IMARC Group provides an analysis of the key trends in each segment of the global foreign exchange market, along with forecast at the global, regional, and country levels from 2025-2033. The market has been categorized based on counterparty and type.

The foreign exchange (Forex) market is a global decentralized market for the trading of currencies. It is the largest financial market in the world, with an average daily trading volume of over $5 trillion. The market size is expected to reach $84 million by 2033, growing at a CAGR of 5.83% during the forecast period 2025-2033. Key drivers of the Forex market growth include increasing international trade, rising foreign direct investment, and growing demand for hedging and speculation. The market is also being driven by the increasing use of online trading platforms and the growing popularity of cryptocurrencies. The major players in the Forex market include Deutsche Bank, UBS, JP Morgan, State Street, XTX Markets, Jump Trading, Citi, Bank of New York Mellon, Bank America, and Goldman Sachs. The market is segmented by type (spot Forex, currency swap, outright forward, Forex swaps, Forex options, other types), counterparty (reporting dealers, other financial institutions, non-financial customers), and region (North America, South America, Europe, Middle East & Africa, Asia Pacific). Recent developments include: In November 2023, JP Morgan revealed the introduction of novel FX Warrants denominated in Hong Kong dollars in the Hong Kong market, marking its status as the inaugural issuer in Asia to present FX Warrants featuring CNH/HKD (Chinese Renminbi traded outside Mainland China/Hong Kong dollar) and JPY/HKD (Japanese Yen/Hong Kong dollar) as underlying currency pairs. These fresh FX Warrants are set to commence trading on the Hong Kong Stock Exchange., In October 2023, Deutsche Bank AG finalized its purchase of Numis Corporation Plc. The integration of both brands under the name 'Deutsche Numis' underscores their collective influence and standing in the UK and global markets. 'Deutsche Numis' emerges as a prominent entity in UK investment banking and the preferred advisor for UK-listed companies. This acquisition aligns with Deutsche Bank's Global Hausbank strategy, aiming to become the primary partner for clients in financial services and fostering stronger relationships with corporations throughout the United Kingdom., In June 2023, UBS successfully finalized the acquisition of Credit Suisse, marking a significant achievement. Credit Suisse Group AG has merged into UBS Group AG, forming a unified banking entity.. Key drivers for this market are: International Transactions Driven by Growing Tourism Driving Market Demand, Market Liquidity Impacting the Foreign Exchange Market. Potential restraints include: International Transactions Driven by Growing Tourism Driving Market Demand, Market Liquidity Impacting the Foreign Exchange Market. Notable trends are: FX Swaps is leading the market.

The EURUSD decreased 0.0005 or 0.04% to 1.0787 on Wednesday March 26 from 1.0791 in the previous trading session. Euro US Dollar Exchange Rate - EUR/USD - values, historical data, forecasts and news - updated on March of 2025.

The DXY decreased 0.1629 or 0.16% to 104.3841 on Thursday March 27 from 104.5470 in the previous trading session. United States Dollar - values, historical data, forecasts and news - updated on March of 2025.

The USDMXN increased 0.2404 or 1.20% to 20.3451 on Thursday March 27 from 20.1047 in the previous trading session. Mexican Peso - values, historical data, forecasts and news - updated on March of 2025.

The size and share of the market is categorized based on Application (Currency Exchange Platforms, Forex Trading Software, Currency Risk Management Tools, Automated Trading Systems) and Product (Financial Trading, Investment Management, Currency Hedging, International Trade) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

Mexico BDM Forecast: Exchange Rate against US$: Average data was reported at 19.940 MXN/USD in Mar 2020. This records an increase from the previous number of 19.890 MXN/USD for Feb 2020. Mexico BDM Forecast: Exchange Rate against US$: Average data is updated monthly, averaging 12.310 MXN/USD from Feb 1999 (Median) to Mar 2020, with 254 observations. The data reached an all-time high of 21.420 MXN/USD in Jan 2017 and a record low of 9.130 MXN/USD in Apr 2002. Mexico BDM Forecast: Exchange Rate against US$: Average data remains active status in CEIC and is reported by Bank of Mexico. The data is categorized under Global Database’s Mexico – Table MX.M006: Foreign Exchange Rates: Forecast.

The size and share of the market is categorized based on Type (Professionally Managed Accounts Service, Currency Exchange & Remittance Service, Trading Programs & Advisory Service, Others) and Application (Individuals, Retailers, Corporate Institutes, Government, Others) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

The USDBRL increased 0.0293 or 0.51% to 5.7285 on Wednesday March 26 from 5.6992 in the previous trading session. Brazilian Real - values, historical data, forecasts and news - updated on March of 2025.

Luxembourg STATEC: Forecast: Foreign Exchange Rate: EUR/USD data was reported at 1.110 EUR/USD in 2021. This records an increase from the previous number of 1.090 EUR/USD for 2020. Luxembourg STATEC: Forecast: Foreign Exchange Rate: EUR/USD data is updated yearly, averaging 1.115 EUR/USD from Dec 2018 (Median) to 2021, with 4 observations. The data reached an all-time high of 1.230 EUR/USD in 2018 and a record low of 1.090 EUR/USD in 2020. Luxembourg STATEC: Forecast: Foreign Exchange Rate: EUR/USD data remains active status in CEIC and is reported by The Portal of Statistics of Luxembourg. The data is categorized under Global Database’s Luxembourg – Table LU.M009: Foreign Exchange Rate: Forecast: The Portal of Statistics of Luxembourg.

The global foreign exchange services market is projected to reach a value of USD XX million by 2033, exhibiting a CAGR of XX% during the forecast period (2025-2033). This growth is primarily driven by the increasing volume of international trade and investment, as well as the growing demand for currency exchange and remittance services. The rising adoption of digital technologies is further fueling market expansion, enabling seamless cross-border transactions and real-time currency conversion. The market is segmented into various categories based on application and type. Individuals, retailers, corporate institutes, and government agencies are the primary users of foreign exchange services. In terms of type, professionally managed accounts service, currency exchange and remittance service, trading programs and advisory service, and others are the major segments. Geographically, North America, South America, Europe, Middle East & Africa, and Asia Pacific are the key regions analyzed in the report. The study provides insights into the competitive landscape, market drivers and trends, restraints, and regional dynamics. Key players covered include American Express Company, Western Union Holdings, Inc., Capital One Financial Corporation, Bank of America Corporation, Citibank, Wells Fargo, JPMorgan Chase & Co., State Bank of India, Scotiabank, and GAIN Capital. Foreign exchange (forex) services are financial services that enable individuals and businesses to exchange one currency for another. The forex market is the largest financial market in the world, with a daily trading volume of over $5 trillion.

The euro-to-dollar exchange rate fluctuated significantly in 2022, reaching its lowest recorded value since 2008 during that time. Figures were different later in the year, however, with a rate of 1.08 USD recorded at the end of March 25, 2025. The average (standardized) measure is based on the calculation of many observations throughout the period in question. It is therefore different than an annual measure at point in time, which reflects concrete values as of end of the year. EstablishmentThe euro, which was established in 1992, introduced in non-physical form in 1999 and finally rolled out in 2002, is used by 19 of the 27 member states of the European Union. This group of 19 countries is otherwise known as the eurozone or euro area. By 2018, the total value of euro currency in circulation was almost 1.2 trillion euros, or over 3.4 thousand euros per capita.Euro to USDBetween 2001 and 2008, the average annual exchange rate of the euro to the U.S. dollar noted a steep increase. In 2008, the euro to U.S. dollar annual average exchange rate was equal to 1.47, which meant that one euro could buy 1.47 U.S. dollars. By 2019, this value had decreased overall, to a value of 1.12 which meant that one euro could buy 1.12 U.S. dollars. Similar dynamics in the euro to U.S. dollar exchange rate were also reflected in the monthly exchange rate in recent years.

New Zealand ANZ Forecast: Foreign Exchange Rate: Annual: United States Dollar data was reported at 0.640 NZD/USD in 2025. This records an increase from the previous number of 0.630 NZD/USD for 2024. New Zealand ANZ Forecast: Foreign Exchange Rate: Annual: United States Dollar data is updated yearly, averaging 0.645 NZD/USD from Dec 2018 (Median) to 2025, with 8 observations. The data reached an all-time high of 0.680 NZD/USD in 2021 and a record low of 0.590 NZD/USD in 2023. New Zealand ANZ Forecast: Foreign Exchange Rate: Annual: United States Dollar data remains active status in CEIC and is reported by ANZ Bank New Zealand. The data is categorized under Global Database’s New Zealand – Table NZ.M017: Foreign Exchange Rate: Forecast: ANZ Bank Ltd.

Dataset

This dataset was created by Debdatta Chatterjee

Contents

Currency exchange rate is an important metric to inform economic policy but traditional sources are often produced with delay during crises and only at an aggregate level. This may poorly reflect the actual rate trends in rural or poverty-stricken areas, where large populations reside in fragile situations.
This data set includes currency exchange rate estimates and is intended to help gain insight in price developments beyond what can be formally measured by traditional methods. The estimates are generated using a machine-learning approach that imputes ongoing subnational price surveys, often with accuracy similar to direct measurement of prices. The data set provides new opportunities to investigate local price dynamics in areas where populations are sensitive to localized price shocks and where traditional data are not available.

The foreign exchange market is the global marketplace where currencies are traded. It is the largest and most liquid financial market in the world, with an average daily trading volume of over $6.6 trillion. The market size is expected to grow to $9.3 trillion by 2033, with a CAGR of 5.5%. The value unit is million. Key drivers of the market include the increasing global trade and investment, the growth of emerging markets, and the development of new financial technologies. Trends in the market include the rise of electronic trading, the increased use of derivatives, and the growing demand for foreign exchange hedging. Restraints on the market include the volatility of currencies, the risk of currency devaluation, and the regulatory challenges associated with cross-border transactions. The segments of the market include application (reporting dealers, other financial institutions, non-financial customers), type (currency swaps, outright forward and FX swaps, FX options), and company (JPMorgan Chase, Citibank, Deutsche Bank, Barclays, Bank of America Merrill Lynch, BNP Paribas, Goldman Sachs, HSBC, Royal Bank of Scotland, UBS). Regionally, the market is divided into North America, South America, Europe, Middle East & Africa, and Asia Pacific.

The USDTWD increased 0.0290 or 0.09% to 33.0610 on Tuesday March 25 from 33.0320 in the previous trading session. Taiwanese Dollar - values, historical data, forecasts and news - updated on March of 2025.