Average daily volume in the over-the-counter U.S. foreign exchange market rose to $754 billion in April, up 11.8 percent from six months earlier, the Federal Reserve Bank of New York said on Monday.

The total was just shy of record turnover of $762 billion seen in the six months to October 2008. The Fed said volume across all instrument types and execution methods and among most currency pairs rose in the latest reporting period.

Average daily volumes in outright forwards and foreign exchange swaps registered new highs in April of $104 billion and $203 billion, respectively.

(Reporting by Steven C. Johnson; Editing by Theodore d'Afflisio)