Currency Volumes Surpass Pre-Lehman Peak, BIS Estimates
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Currency trading may have risen to a record $5 trillion a day in September, surpassing the peak reached before Lehman Brothers Holdings Inc.’s collapse in 2008, according to the Bank for International Settlements.
Trading then declined to about $4.7 trillion a day in October and is likely to have fallen considerably in early 2012, the Basel, Switzerland-based bank said in a report. The BIS said it derived its estimates from supplementing the data in its foreign-exchange survey, which is undertaken every three years, with information collected from central banks and electronic-trading platforms.