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Tokyo forex market hit record trading volume in April

JIJI

The Tokyo interbank foreign exchange market marked a record-high trading volume in April, on the back of Prime Minister Shinzo Abe’s vigorous economic policy, data showed Monday.

The average daily trading volume came to $348.1 billion, up 15.8 percent from six months before and exceeding the previous record of $302.5 billion posted in April 2008, according to the Tokyo Foreign Exchange Market Committee, which consists of the Bank of Japan and private financial institutions.

The result suggests that Tokyo is the world’s fourth-largest currency market, after London, New York and Singapore.

By currency pair, the average volume was $195 billion in the dollar-yen, up 29.8 percent, $34.3 billion in the euro-yen, up 51.5 percent, and $32 billion in the euro-dollar, down 23.9 percent.