FX Utilisation Dips Sharply Due to Decline in Invisible Transactions in Q3 2024

FX utilisation dipped in the third quarter of 2024, primarily due to a decline in invisible transactions, according to the latest Quarterly Statistical Bulletin. This decrease contributed to a drop in foreign exchange demand.

Foreign Exchange (FX) utilisation declined significantly in the third quarter of 2024, primarily driven by a substantial drop in invisible transactions, according to the latest Quarterly Statistical Bulletin. This downturn is largely attributed to lower invisible transaction activity, which saw a notable decline. The reduced demand for foreign exchange has been reflected in the latest statistics. As a result, FX utilisation has seen a notable decrease in this quarter.