What was the daily turnover of the FOREX market in 2014?

The daily turnover of the foreign exchange (FOREX) market in 2014 is widely recognized to have been approximately $5.5 trillion. This substantial figure reflects the immense liquidity and volume of trading that takes place in the global currency markets, which are the largest financial markets in the world.

This figure encompasses a variety of transactions, including spot trades, forward contracts, and swaps among others, illustrating the diverse nature of trading in the FOREX market. The growth in trading volume can also be attributed to increased participation from central banks, institutional investors, and retail traders seeking to capitalize on currency fluctuations.

Understanding this figure is crucial as it underscores the importance of the FOREX market in the global economy, providing insights into how currencies are traded and how exchange rates are determined. The sheer size of daily transactions indicates the level of investment and economic activity tied to foreign exchange operations.