Increased global turnover in kroner, but a smaller Danish foreign exchange market
In terms of turnover, the foreign exchange market is one of the world’s largest financial markets. An efficient foreign exchange market supports cross-border trade in goods, services and financial assets, which makes it essential for the economy, especially for an open economy such as the Danish. Therefore it is important to know how the foreign exchange market functions. Danmarks Nationalbank collects data for foreign exchange turnover from banks located in Denmark. Every third year, Danmarks Nationalbank provides data about trade in foreign exchange in Denmark for international statistics of turnover in the global foreign exchange market. These statistics are coordinated by the Bank for International Settlements.