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The world's most traded currencies

 The forex market, or as it is known as the foreign exchange market, is the basis and oldest financial markets in the world, and it is considered the most liquid market and currency exchange around the world at the present time; Where the average daily trading volume is estimated at 6.6 trillion dollars, and the following shows the most traded currencies around the world with some details about each currency.


The world's most traded currencies:

U.S. dollar:

Where the US dollar is the official currency of the United States of America, and it is issued by the Federal Reserve Bank, and is referred to by the abbreviation of the international symbol (USD) or by the formal symbol ($), and the US dollar is the most traded currency globally in the foreign currency market according to the statistics of the Bank for International Settlements for the year 2019. Statistics indicate that the average daily trading volume of the US dollar amounted to about $ 2.9 trillion in 2019.


 euro:

Where is the currency of the euro; Which is referred to by an abbreviation by the symbol (EUR) or by the formal symbol (€), the official currency in nineteen of the twenty-eight countries of the European Union, which is called the name of the euro area, noting that the introduction of the euro currency in the financial markets was in 1999 Three years later, the banknotes and coins related to them were introduced by the European Central Bank, and the euro currency is the second most traded currency around the world after the US dollar.

According to the statistics of the Bank for International Settlements, the average daily trading volume of the euro in 2019 was about 1.1 trillion US dollars, and it should be noted that it is the second largest global reserve currency. As the total global reserves are estimated, based on economic statistics in 2018, at about 20%, given the price of the euro against the dollar; One US dollar is equivalent to 0.893 euros; This is according to the exchange rates for the year 2020.



Sterling pound :

Where the pound sterling is the official currency and circulated in the United Kingdom, and in a number of other regions affiliated with it, such as: British overseas regions such as South Georgia, the South Sandwich Islands and British lands in Antarctica, and that the British pound is the oldest currency used in the world To date, it is ranked the fourth most traded currency in the Forex market; It represents about 13% of its daily trading volume, and statistics from the Bank for International Settlements in 2019 indicate that the average daily turnover in the British pound was about $ 422 billion.


Canadian dollar:

Where the Canadian dollar is the official currency and circulated in the State of Canada, it is known by the acronym (CAD), and is referred to by the formal symbol (C $); And that it is distinguished from the American dollar, noting that the date of the establishment of this currency goes back to 1871 AD; When the Canadian Parliament issued a law adopting the Canadian dollar as a unified official currency in Canada, and economic statistics indicate that approximately 2% of the total global currency reserves are kept in Canadian dollars; Accordingly, the Canadian dollar is the fifth largest reserve currency, as for the exchange rate of the Canadian dollar against the US dollar; One US dollar is equivalent to 1,368 Canadian dollars. And that is according to the exchange rates in 2020.


Japanese Yen :

The Japanese yen is considered a basic measure of the strength of Japan's economy in terms of manufacturing, production and export, in addition to it is a general indicator of the strength and stability of the Pacific economy, and the Japanese yen is the official currency in Japan, and it is issued by the Bank of Japan, and it is referred to as an abbreviation of the global symbol ( JPY), and the Japanese yen is the most traded currency in Asia, as well as the third in the ranking of the most traded currencies in the foreign exchange market. The average daily trading volume in the Japanese yen was estimated, according to the statistics of the Bank for International Settlements in 2019, at about $ 554 billion, and economic statistics indicate that it is the third largest reserve currency; Where it represents about 4.9% of global currency reserves.


The strongest currency in the world:

Where the relative economic strength of the United States of America plays an important role in supporting the value of its currency; The global trading volume in US dollars is estimated at $ 1,671 billion, and statistics indicate that half of it was outside the US markets; This is according to global economic statistics in 2018 AD, and the US dollar is characterized by its ability to trade with all other major currencies, and is considered a global currency acceptable to trade around the world and not only in the US states, in addition to being the largest unofficial global reserve currency; Maintained by banks and central banks in most countries of the world.

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