Global FX turnover dives

BASEL -- Global daily turnover in the FX market slipped to $1.1 trillion in 2000, the Bank for International Settlements (BIS) announces today (June 11) in its annual report. The drop -- from the record high of $1.5 trillion recorded at the BIS’ last tri-annual survey in 1998 -- is the first time the FX market has shrunk since full records began, said the Basel-based bank.

Although a reduction was expected by market participants, it is the first time the BIS -- or any other regulatory body -- has