B of E says For Ex turnover down in last 3 years

UK - Average daily spot and forward foreign exchange transactions in London are worth $504 billion a day, down 21% from $637 billion a day in 1998, the Bank of England said Tuesday 9 October.

The U.K. central bank added that at constant 2001 exchange rates, the fall was a more modest 15%, but it follows many years of rapid expansion for this market.

The Bank's data was used to compile a wider three-year survey on the world foreign exchange market carried out by the Bank for International Settle