(1 October 2025 – Australia) Activity in Australia’s FX market reached its highest level on record in April 2025 according to the Bank for International Settlements (BIS) triennial reporting of turnover in FX and over-the-counter (OTC) interest rate derivatives markets.
The Reserve Bank of Australia (RBA) released a summary of findings that highlighted globally, the Australian Dollar (AUD) is the seventh most traded currency, down from sixth in 2022, and its share of turnover remained stable around six percent. The AUD/USD remains the sixth most traded currency pair globally, accounting for around five percent of all transactions.
The BIS reporting was conducted during a period of heightened FX volatility and a surge of trading activity following several trade policy announcements by major economies. Average daily turnover in Australia’s FX market increased by 34 percent to US$201 billion per day in April 2025, from US$150 billion in April 2022. Turnover in the Australian FX market surpassed its previous peak in April 2010 to reach its highest level on record and Australia’s FX market remains the eleventh largest in the world.
Singapore strengthened its position as the third largest FX centre in the world after the UK and the US, with its share of global FX volumes rising to 11.8 percent in April 2025.
In the Australian FX market the majority of turnover remained in FX swaps, accounting for around 53 percent of total turnover. Spot transactions accounted for 25 percent of Australian turnover, up from 23 percent in 2022, and outright forwards accounted for 18 percent of Australian turnover, little changed from the previous 2022 report.
“Trading in FX markets globally reached US$9.6 trillion per day in April 2025, up 28 percent from 2022. Trading of OTC interest rate derivatives rose 59 percent to US$7.9 trillion per day” the BIS stated.
“The US dollar held its place as the most-traded currency. It was on one side of 89 percent of all FX trades in April 2025. The euro was the second most actively traded currency, with a share of 28.9 percent, followed by the Japanese yen at 16.8 percent. The share of sterling decreased to 10.2 percent. Trading in the Chinese renminbi and the Swiss franc increased, with the franc advancing to become the sixth most traded currency.”
The final data and related analysis will be released by the BIS in December 2025.