These 7 Emerging Currencies Are Challenging The Forex Hierarchy!

The USD still accounts for 87.0% of the average daily forex turnover according to a survey taken in April 2013. The next currency that comes in second is the Euro (EUR) that has 33.4% share, after than Japanese Yen (JPY) that has got 23% and British Pound (GBP) is fourth with 11.86% share. The next 3 currencies are AUD, CHF and CAD. However these 7 emerging currencies are challenging the status quo. Four of the seven leading second-tier currencies are easy to identify, belonging as they do to the biggest emerging economies or BRIC – the Brazilian real, Russian ruble, Indian rupee and Chinese renminbi (or yuan). The other three currencies are less obvious – the Mexican peso, Turkish lira and South African rand.

 

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