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The volume of transactions in these markets amounting to about USD 2 billion  per day does not compete favorably with any well developed foreign exchange market of international repute but with the entry of online Foreign Exchange Companies the market is steadily growing.
The Australian foreign exchange market has grown considerably to be the highly liquid, globally integrated market that it is today.
These companies' selling point is usually that they will offer better exchange rates or cheaper payments than the customer's bank.
Most of the GCC states have announced major plans for converting their countries into world-class business hubs. This will further enhance exchange business in the region. New development around the UAE is also set to give a boost to the tourism sector, which would, in turn, increase demand for currency exchange services .
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