Question

what are the major trade currencies and what is their relative proportion in global trade?

Answer 1

Ans.​​​​​​

Major trade currencies - Relative proportion in global trade

1. US dollar (USD)

   It is the number one most traded currency globally, accounting for a daily average volume of $2.2 trillion and estimated to make up nearly 63% of currency reserves by volume.   

2. ^​​Euro (EUR)

   The second most traded globally, accounting for a daily average volume of nearly $800 million; estimatedto make up roughly 20% of global reserves by volume.

3. Japanese yen (JPY)

   The third most traded globally, accounting for a daily average volume of close to $550 million.It is also the third biggest reserve currency – estimated to make up around 4.9% of global currency reserves.

4. The pound sterling (GBP)

   The fourth most traded globally at a daily average volume of nearly US$325 million.It is also the fourth biggest reserve currency – estimated to account for 4.5% of global reserves by value.

5. Australian dollar (AUD)

   The fifth most traded globally, accounting for a daily average volume of US$174 million.The currency is the sixth most commonly held reserve currency – estimated to account for 1.8% of global reserves by value.

6. Canadian dollar (CAD)

   The sixth most traded globally, accounting for a daily average volume of US$130 million.The currency is the fifth most commonly held reserve currency, at 2.02% of global reserves by value.

7. Swiss franc (CHF)

   The seventh most traded globally, accounting for a daily average volume of US$122 million.It is also the eight most commonly held reserve currency, at 0.18% of global reserves by value.

8. Chinese renminbi (CNH)

   The eighth most traded globally, accounting for a daily average volume of US$101 million; the seventh most held reserve currency – estimated to account for 1.23% of global reserves. All above data is based on the most recent research by the Bank for International Settlements(BIS), which measures turnover in the forex markets every three years.