FOREIGN EXCHANGE MARKET
Global daily average FX turnover reached US$7.5 trillion in April 2022, up 14% from $6.6 trillion three years earlier. This growth coincided with heightened FX volatility due to changing expectations about the path of future interest rates in major advanced economies, rising commodity prices and geopolitical tensions following the Russian invasion of Ukraine.

INTEREST RATE DERIVATIVES MARKET
Turnover of OTC interest rate derivatives averaged US$5.2 trillion per day in April 2022, less than in April 2019 (US$6.4 trillion). This decline was influenced by reduced turnover of Forward Rate Agreements (FRAs) following the transition from the use of Libor as a reference rate at the end of 2021, mainly affecting contracts tied to the US dollar, as indicated by the BIS.
 

This publication is available on the BIS website:

Triennial Central Bank Survey of foreign exchange and Over-the-counter (OTC) derivatives markets in 2022

OTC foreign exchange turnover in April 2022

OTC interest rate derivatives turnover in April 2022