The U.S.dollar is the most frequently traded currency in foreign currency markets,accounting for over 40% of total trading.

Question

Quizplus · Accepted Answer

According to the Bank for International Settlements (BIS) Triennial Central Bank Survey of Foreign Exchange and OTC Derivatives Markets in 2019, the U.S. dollar was involved in 88% of all foreign exchange transactions, making it the most traded currency. It was also involved in 98% of all swaps transactions. The euro was the second most traded currency, accounting for 32% of total trading.

The USDollar Is the Most Frequently Traded Currency in Foreign Currency