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Currency trade volume surges.

DUBAI: The growth rate of foreign exchange trading is surging ahead in the Middle East, says Deutsche Bank.

The growth of foreign exchange trading volumes in the retail foreign exchange market in the Middle East has increased significantly since Deutsche Bank launched the Arabic version of its online foreign exchange trading service, dbFX.

"The increase in foreign exchange trading volumes on dbFX is already exceeding our expectations," dbFX head of sales EMEA Catherine Hardiman said.

"We launched the Arabic version of dbFX, dbfxarabic.com, in October last year and by last month the level of interest from investors in the region visiting the website has doubled."

Deutsche Bank's Currency Return Index, which tracks the performance of a diverse foreign exchange investment portfolio, indicates that foreign exchange generated higher annualised returns between 1980 and 2006 than either the S&P 500 or the MSCI.

In addition, foreign exchange delivered annualised total returns of 11 per cent between 1980 and 2006.

The consistent returns of foreign exchange compares favourably to total returns for bonds of 9pc and 12pc for equities over the same period.

"Middle Eastern investors are rapidly discovering the benefits of online foreign exchange trading and we expect to see significant growth this year in the region," says Hardiman.

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Publication:Gulf Daily News (Manama, Bahrain)
Date:May 1, 2008
Words:223
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