GCC Foreign Exchange Market Growth, Size, Trends, Share, Revenue, Demand and Future Outlook

GCC Foreign Exchange Market Size– By Counterparty, By Type- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

GCC Foreign Exchange Market Size– By Counterparty, By Type- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

Published: Jan 2024 Report ID: BFSI2404 Pages: 1 - 155 Formats*:     
Category : BFSI
GCC Foreign Exchange Market Introduction and Overview 

According to SPER Market Research, the GCC Foreign Exchange Market is estimated to reach USD XX billion by 2033 with CAGR of 8.64%.  

The report includes an in-depth analysis of the GCC Foreign Exchange Market, including market size and trends, product mix, applications, and supplier analysis. The market where national currencies are exchanged against one another is referred to as foreign exchange, or forex or FX. It is the world's biggest and most liquid financial market. Participants in the foreign exchange market, such as banks, businesses, and private citizens, purchase, sell, and speculate on currency pairs. These exchanges may take place for a number of purposes, including supporting global trade, protecting against currency risk, or making money off of swings in exchange rates.

  • 2008: Following the global crisis, financial regulators within the region started to implement stricter regulations and began to crack down on unregulated entities.
GCC Foreign Exchange Market
Market Opportunities and Challenges

New industries are emerging and drawing foreign investments as the GCC countries work to diversify their economies away from their reliance on oil, which boosts forex activity. This is one of the main things driving the market expansion, together with the bettering trade ties with other nations. Furthermore, changes in oil prices have the ability to affect the GCC's currencies because they normally increase these nations' revenue. In addition, the GCC region's tourist industry is expanding quickly, especially in nations like Saudi Arabia and the United Arab Emirates, which generates a significant quantity of foreign exchange and hence supports market expansion. Furthermore, the GCC governments' choices about fiscal policy, such as adjustments to tax rates, public spending, and borrowing, have a big influence on the value of their own currencies.

The economies of the GCC rely heavily on oil exports. The stability of respective currencies can be impacted by changes in oil prices, which can also have an effect on trade balances and foreign exchange reserves. A lot of GCC nations are attempting to diversify their economies away from the oil industry. Economic diversification can be difficult since it requires moving away from revenue streams that are heavily dependent on oil, which affects currency dynamics. Geopolitical issues are common in the area, and uncertainty can lower investor confidence and cause currency values to fluctuate. The mood of the foreign currency market can also be impacted by geopolitical developments. The GCC foreign exchange market may be impacted by shifts in the state of the world economy, including changes in interest rates and the economic policies of major nations. The area is not cut off from the larger picture of the world economy.

GCC Foreign Exchange Market


Market Competitive Landscape
A thorough examination of the competitive environment in the GCC foreign exchange market has also been included in the paper. The research includes information on competition analysis, including market structure, key player positioning, and top winning tactics, competitive dashboard, and firm evaluation quadrant. All significant companies have also been given thorough profiles. Some of major players are Barclays, BNP Paribas, Citibank, Deutsche Bank, Goldman Sachs, HSBC Holdings plc. , JPMorgan Chase & Co., The Royal Bank of Scotland, UBS AG, Standard Chartered PLC, State Street Corporation, and XTX Markets Limited and various others.

Scope of the Report:
 Report Metric Details
 Market size available for years 2019-2033
 Base year considered 2022
 Forecast period 2023-2033
 Segments coveredBy Counterparty, By Type
 Regions covered
Oman, Qatar, Saudi Arabia, UAE, Others
 Companies CoveredBarclays, BNP Paribas, Citibank, Deutsche Bank, Goldman Sachs, HSBC Holdings plc., JPMorgan Chase & Co., The Royal Bank of Scotland, UBS AG, Standard Chartered PLC, State Street Corporation, and XTX Markets Limited and various others.
COVID-19 Impact on GCC Foreign Exchange Market
The COVID-19 epidemic significantly reduced the world's demand for oil, which is important because the GCC countries mostly depend on oil exports. The GCC region's economy faced difficulties as a result of this and a price war between the main oil-producing countries, which can have an effect on the region's currencies' value in the foreign currency market. Global financial markets, particularly foreign currency markets, saw heightened volatility as a result of the pandemic's uncertainties and economic disruptions. Changes in market sentiment and economic conditions may cause swings in currency prices. It's possible that governments in the GCC area carried out a number of interventions and economic stimulus programs to lessen the pandemic's effects. In the foreign exchange market, these actions have the potential to affect trading patterns and currency values.

Key Target Audience:
  • Financial institutions
  • Multinational Corporations
  • Central Banks
  • Hedge Funds
  • Institutional Investors
  • Individual Traders
Our in-depth analysis of the GCC Foreign Exchange Market includes the following segments:
By Counterparty:
  • Non-financial Customers
  • Other Financial Institutions
  • Reporting Dealers
  • By Type:
  • Currency Swap
  • FX Options
  • FX Swaps
  • Outright Forward
  • By Region:
  • Kuwait
  • Oman
  • Qatar
  • Saudi Arabia
  • UAE
  • Key Topics Covered in the Report:
    • GCC Foreign Exchange Market Size (FY’2023-FY’2033)
    • Overview of GCC Foreign Exchange Market
    • Segmentation of GCC Foreign Exchange Market By Counterparty (Reporting Dealers, Other Financial Institutions, Non-financial Customers)
    • Segmentation of GCC Foreign Exchange Market By Type (Currency Swap, Outright Forward and FX Swaps, FX Options)
    • Statistical Snap of GCC Foreign Exchange Market 
    • Expansion Analysis of GCC Foreign Exchange Market 
    • Problems and Obstacles in GCC Foreign Exchange Market 
    • Competitive Landscape in the GCC Foreign Exchange Market 
    • Impact of COVID-19 and Demonetization on GCC Foreign Exchange Market 
    • Details on Current Investment in GCC Foreign Exchange Market 
    • Competitive Analysis of GCC Foreign Exchange Market 
    • Prominent Players in the GCC Foreign Exchange Market 
    • SWOT Analysis of GCC Foreign Exchange Market
    1. Introduction
    1.1. Scope of the report
    1.2. Market segment analysis

    2. Research Methodology
    2.1. Research data source
    2.1.1. Secondary Data
    2.1.2. Primary Data
    2.1.3. SPER’s internal database
    2.1.4. Premium insight from KOL’s
    2.2. Market size estimation
    2.2.1. Top-down and Bottom-up approach
    2.3. Data triangulation

    3. Executive Summary

    4. Market Dynamics
    4.1. Driver, Restraint, Opportunity and Challenges analysis
    4.1.1. Drivers
    4.1.2. Restraints
    4.1.3. Opportunities
    4.1.4. Challenges
    4.2. COVID-19 Impacts of the   GCC Foreign Exchange  Market 

    5. Market variable and outlook
    5.1. SWOT Analysis
    5.1.1. Strengths
    5.1.2. Weaknesses
    5.1.3. Opportunities
    5.1.4. Threats
    5.2. PESTEL Analysis
    5.2.1. Political Landscape
    5.2.2. Economic Landscape
    5.2.3. Social Landscape
    5.2.4. Technological Landscape
    5.2.5. Environmental Landscape
    5.2.6. Legal Landscape
    5.3. PORTER’s Five Forces 
    5.3.1. Bargaining power of suppliers
    5.3.2. Bargaining power of buyers
    5.3.3. Threat of Substitute
    5.3.4. Threat of new entrant
    5.3.5. Competitive rivalry
    5.4. Heat Map Analysis

    6. Competitive Landscape
    6.1.   GCC Foreign Exchange  Market Manufacturing Base Distribution, Sales Area, Product Type 
    6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in   GCC Foreign Exchange  Market 

    7.   GCC Foreign Exchange Market, By Counterparty (USD Million)
    7.1.   GCC Foreign Exchange Market Value Share and Forecast, By Counterparty, 2023-2033
    7.2. Non-financial Customers
    7.3. Other Financial Institutions
    7.4. Reporting Dealers

    8. GCC Foreign Exchange  Market, By Type (USD Million)
    8.1.   GCC Foreign Exchange Market Value Share and Forecast, By Type, 2023-2033
    8.2. Currency Swap
    8.3. FX Options
    8.4. FX Swaps
    8.5. Outright Forward

    9.   GCC Foreign Exchange  Market  Forecast, 2019-2033 (USD Million)
    9.1.   GCC Foreign Exchange Market  Size and Market Share

    10.   GCC Foreign Exchange Market, By Counterparty, 2019-2033 (USD Million)
    10.1.   GCC Foreign Exchange Market Size and Market Share By Counterparty (2019-2026)
    10.2.   GCC Foreign Exchange Market Size and Market Share By Counterparty (2027-2033)

    11.   GCC Foreign Exchange Market, By Type, 2019-2033 (USD Million)
    11.1.  GCC Foreign Exchange Market Size and Market Share By Type (2019-2026)
    11.2.  GCC Foreign Exchange Market Size and Market Share By Type (2027-2033)

    12.   GCC Foreign Exchange  Market, By Region, 2019-2033 (USD Million)
    12.1.  GCC Foreign Exchange  Market Size and Market Share By Region (2019-2026)
    12.2.  GCC Foreign Exchange  Market Size and Market Share By Region (2027-2033) 
    12.2.1. Bahrain
    12.2.2. Kuwait
    12.2.3. Oman
    12.2.4. Qatar
    12.2.5. Saudi Arabia
    12.2.6. UAE
    12.2.7. Others

    13. Company Profile
    13.1.  BNP Paribas
    13.1.1. Company details
    13.1.2. Financial outlook
    13.1.3. Product summary 
    13.1.4. Recent developments
    13.2. Barclays
    13.2.1. Company details
    13.2.2. Financial outlook
    13.2.3. Product summary 
    13.2.4. Recent developments
    13.3. Citibank
    13.3.1. Company details
    13.3.2. Financial outlook
    13.3.3. Product summary 
    13.3.4. Recent developments
    13.4. Deutsche Bank
    13.4.1. Company details
    13.4.2. Financial outlook
    13.4.3. Product summary 
    13.4.4. Recent developments
    13.5. Goldman Sachs 
    13.5.1. Company details
    13.5.2. Financial outlook
    13.5.3. Product summary 
    13.5.4. Recent developments
    13.6. HSBC Holdings plc.
    13.6.1. Company details
    13.6.2. Financial outlook
    13.6.3. Product summary 
    13.6.4. Recent developments
    13.7. JPMorgan Chase & Co.
    13.7.1. Company details
    13.7.2. Financial outlook
    13.7.3. Product summary 
    13.7.4. Recent developments
    13.8. Standard Chartered PLC
    13.8.1. Company details
    13.8.2. Financial outlook
    13.8.3. Product summary 
    13.8.4. Recent developments
    15.20   Others

    16 List of Abbreviations

    17 Reference Links

    18 Conclusion

    19 Research Scope

    SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.

    The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings.  The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.

    SPER-Methodology-1

    SPER-Methodology-2

    SPER-Methodology-3


    Frequently Asked Questions About This Report
    GCC Foreign Exchange Market is projected to reach USD XX billion by 2033, growing at a CAGR of 8.64% during the forecast period.
    GCC Foreign Exchange Market size from 2022. The Market is expected to reach USD XX billion by 2033, at a CAGR of 8.64% during the forecast period.
    GCC Foreign Exchange Market CAGR of 8.64% during the forecast period.
    You can get the sample pages by clicking the link - Click Here
    GCC Foreign Exchange Market size is USD XX billion from 2023 to 2033.
    GCC Foreign Exchange Market Segment is covered By Counterparty, By Type.
    The Middle East and Africa is anticipated to have the highest market share in the GCC Foreign Exchange Market.
    "The key players in the market include Companies Covered Barclays, BNP Paribas, Citibank, Deutsche Bank, Goldman Sachs, HSBC Holdings plc., JPMorgan Chase & Co., The Royal Bank of Scotland, UBS AG, Standard Chartered PLC, State Street Corporation, and XTX Markets Limited and various others."
    New industries are emerging and drawing foreign investments as the GCC countries work to diversify their economies away from their reliance on oil, which boosts forex activity.
    Not able to find what you are looking for? Need customization in the existing report?
    Click Here

    Join Our SPER Panel

    Our Global Clients

    Our data-driven insights have influenced the strategy of 200+ reputed companies across the globe.
    SPER-Astellas Pharma
    SPER-Citi Bank
    SPER-Microsoft
    SPER-EY
    SPER-Sanofi
    SPER-p&g
    SPER-Johnson & Johnson
    SPER-SIEMENS
    SPER-LOREAL
    SPER-Pfizer
    SPER-IPSOS
    SPER-Heineken
    SPER-IQVIA
    SPER-Kankar IMRB
    SPER-PWC
    SPER-Astellas Pharma
    SPER-Citi Bank
    SPER-Microsoft
    SPER-EY
    SPER-Sanofi
    SPER-p&g
    SPER-Johnson & Johnson
    SPER-SIEMENS
    SPER-LOREAL
    SPER-Pfizer
    SPER-IPSOS
    SPER-Heineken
    SPER-IQVIA
    SPER-Kankar IMRB
    SPER-PWC

    SPER

    Market Research

    We are the leading, full-service global market research and consulting company.

    Certificates
    iso-1 iso-1 iso-1 ESOMAR
    Secure Payments
    SPER Payment Options
    Contact HR

     [email protected]

     +91-742-898-5650