The Bank of England published the Foreign Exchange Joint Standing Committee (FXJSC) semi-annual turnover survey results for October 2025, based on submissions from 25 financial institutions active in the UK foreign exchange market. Average daily reported UK FX turnover was USD 3,850 billion, down 5% from the April 2025 survey but up 20% versus October 2024. Turnover fell across most instruments, led by FX spot declining to USD 1,059 billion from USD 1,293 billion in April 2025, with declines also reported in FX options and outright forwards. FX swaps increased to USD 1,840 billion, up 18% from April 2025. The top three traded currency pairs remained USD/EUR, USD/JPY and USD/GBP, with USD/EUR the largest at USD 901 billion, representing 23% of total turnover; overall average daily UK FX turnover has risen from USD 1,697 billion in October 2008 to USD 3,850 billion in October 2025.
Bank of England 2026-02-04
Bank of England publishes October 2025 FXJSC survey showing UK FX turnover of USD 3,850bn a day
The Bank of England's Foreign Exchange Joint Standing Committee (FXJSC) semi-annual turnover survey for October 2025 shows UK FX turnover at USD 3,850 billion daily, a 5% decrease from April 2025 but a 20% increase from October 2024. FX spot turnover fell to USD 1,059 billion, while FX swaps rose to USD 1,840 billion, with USD/EUR remaining the most traded currency pair at USD 901 billion.