World Biggest Foreign Market is Defleating

1. Foreign exchange, the world's biggest market, is deflating?WHY The foreign exchange, one of the largest markets of the world which is available in most of the big cities like Bangalore ,Delhi, Mumbai and other big Metropolitan cities seem to be is now shrinking. Foreign exchange had been built over rampant globalization, deregulation, and growth in financial services. This huge industry might not blow away in a poof but the golden days of the market areover.

2. Volumes in the global currency market had been shrinking for the past three years. East is probably the new market as the Bank of International Settlements said people are moving away from London and New York to the financial districts ofAsia. The market volume, employment rates at the biggest banks of the west are decreasing. Also, the right regulations about the foreign money exchange and a secular slowdown in the overall development of the World Economy and many other indirect reasons are taking a toll on theForeign exchange market. The latest survey conducted by the Central Banks shows a shocking statistics - In April 2016, the overall trading averaged $5.1 trillion per day in foreign exchange markets. However, three years back in April 2013, the market value amountedto $5.4trillion.Also,thereisadecreaseof30percentinthenumberofthetraders that have been employed in Europe's top 10 foreignexchange banks. However, as this deflation and shrinking happened in the West, a considerable rise was seen in Japanese Yen against the background of monetary policy developments at thattime. And this information caused many of the banks' employees to have sleepless nights. The trading volume has also decreased, thanks to the Oriental inflation as it was evident from the figures given by the Bank of England and New York FederalReserve. There was a time, not many years back when a total of $6 trillion exchanges took place every day, which happened at the end of2014. That is currently an old

3. sweetdream,whichmightnoteverreturn.Andof coursethe bank regulations arenowrigid,andthefadingemergingmarketboom istakingtheirtoll. In 2016, the daily transaction in the foreign exchange market where the underlying asset is traded rather than a derivative came down to $1.7 trillion per day, whereas in 2013, it was $2 trillion. This was the first fall since the beginning of the millennium in 2001, according to the new Triennial Central Bank Survey report. It is also to be noted that the UK’s share of the industry declined to 37.1 percent from close to 41 percent which was three years ago. The employment rates in top 10 FX bank of Europe, employed 332 people, which was down by 30% as compared to the 475 employees in2012. Notonlythefrontlinejobsbutthenumerousback-officejobswhicharedirectly under the market have disappeared, and it’s a bit shocking given the multiple work aspects that people workin. After suffering huge losses, from Swiss Banks and Australian dollars last year, many banks have cracked down on the number of smaller hedge fund-style operations and have halted the growth of highly leveraged speculativetrading. TheRenminbi doubleditsshare,to 4 percent,tobecometheworld'seighthmost actively traded currency, overtaking the Mexican Peso. The rise in Renminbi occurred since there was trading against US dollars starting from2016.

4. So if you need to get money exchanges consider BookMyForex.com, a fully authorizedsitetoexchangemoneyontheforeignratesandcontrolledbyReserve BankofIndia.It is oneofworld'sfirstonlineforeignexchangemarketplaces. They compare foreign currency exchange rates across hundreds of banks and money changers in India and show you the best money exchange rates around you in the real time. So no morewaiting!