Australian Foreign Exchange Turnover Boosted By Global Volatility

BANKS

Daily turnover in the Australian foreign exchange market jumped 20 percent to $46 billion in the financial year to June 1993 from $37.1 billion the previous year, according to a report for the Australian Financial Markets Association.

The report using Reserve Bank of Australia data and surveys of its 113 members, says the market was boosted by global volatility and uncertainty. Turnover in currencies other than the Australian dollar showed a healthy rise to a daily average of $28.17 billion

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