FXstreet.com (Barcelona) - Daily currency trading volumes have reduced from $3.71 trillion record high in April 2008 to $2.86 trillion in April this year, a decline of about 23% year on year, according to figures released by International Financial Services London.

Trading volumes including on non-traditional derivatives and products traded on exchanges have dropped by 24%; from $4.08 trillion in April last year, to $3.1 trillion last April.

The decline has been widespread among currency pairs, instrument types and geographic regions, according to the report.

However trading volume nearly doubled from April 2005 to April 2008, according to International Financial Services London, due to growing activity by hedge funds, retail investors and the increase of new electronic trading platforms.

Regarding to currency pairs, the Dollar continues the most traded currency,86% of the trades contain the dollar in the pair, followed by Euro , Japanese Yen and British Pound. The most traded pair is the EUR/USD.